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FPSGOLD

FPS GOLD

Solution(s): EFTGOLD Now
Website(s): fpsgold.com (Off-site)
Contact: Jeff Bosgraaf, jbosgraaf@fpsgold.com

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Services and products to support the FedNow® Service

The FPS GOLD® platform supports the FedNow Service today for person-to-person (P2P) payments to and from deposit (DDA, savings) accounts. Our FedNow Service process was implemented as a modular, service-oriented API, enabling integration with other system components and third-party applications to support additional use cases over time (e.g., account-to-account transfers, bill pay, loan funding and disbursements).

Customer-facing push payments are available through our digital banking applications, including both desktop and mobile. This functionality is available for retail and commercial users if desired. The platform was also designed to extend these capabilities to additional digital channels as needed. For financial institution staff, we provide browser-based administrative tools in a SaaS environment that include real-time monitoring, reconciliation, exception handling and transaction research. The system processes transactions in real time and provides an immediate view of the status of payments through both the UI and API endpoints. The architecture supports RESTful APIs and event-driven messaging, allowing institutions to embed FedNow functionality into their own digital banking ecosystem while maintaining flexibility for future innovation and expanded payment use cases.

Segment type(s)

  • Financial Institution Service Provider

Solution type(s)

  • Account Tokenization
  • Core Banking Platforms
  • Digital User Experience (mobile/online interfaces)

Use cases/markets served

  • P2P Payments

FedNow functionality supported

  • Connectivity to the FedNow Service via FedLine® Solutions
  • FedNow Profile Management
  • Receiving FedNow Transactions
  • Sending FedNow Transactions – Business Accounts
  • Sending FedNow Transactions – Consumer Accounts

Ability to integrate with outside core processing solutions

  • Yes, any (core agnostic)

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Note on exchange information

Federal Reserve Financial Services (FRFS) is solely a host for the information presented in this Innovator Exchange and the inclusion or exclusion of a provider should in no way imply any relationship with, or recommendation or endorsement by, the Federal Reserve. Exchange presenters are not utilized by the Federal Reserve for the production or delivery of the FedNow Service. FRFS takes no responsibility for the content or accuracy of the information presented. Users of the exchange should perform their own due diligence on providers. See the Terms of Use and Privacy Policy for additional information.