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RedCompass Labs

RedCompass Labs

Solution(s): Payments Expert Agent
Website(s): redcompasslabs.com (Off-site)
Contact: Kellie Johnson, kellie.johnson@redcompass.com

Inclusion of a provider in the exchange does not reflect any recommendation or endorsement by the Federal Reserve, or any relationship between the provider and the Federal Reserve. Learn more.

Services and products to support the FedNow® Service

RedCompass Labs helps financial institutions plan, implement and innovate on the FedNow Service by combining deep payments modernization expertise with purpose-built, payments-specific AI. We support the full FedNow Service lifecycle, from readiness and strategy through implementation, testing and post go-live optimization, enabling institutions to adopt real-time payments faster, at lower risk and with greater confidence.

Our approach is built on two complementary pillars: the Payments Expert Agent and FedNow Technology Accelerators. The Payments Expert Agent is the world’s first vertical AI solution purpose-built for payments modernization. Trained on a curated library of global payments rulebooks and standards, including the FedNow Service Operating Procedures and ISO® 20022, it accelerates FedNow analysis, design, testing and scheme compliance while prioritizing accuracy, traceability and auditability. In trials with a tier one bank, the agent reduced business requirement creation from 25 days to under 3 hours while maintaining full human oversight. Across real-time payment programs, this approach reduces documentation effort and overall delivery costs. Complementing this capability, RedCompass Labs provides modular FedNow Service technology accelerators that operate as a microservices layer between existing cores or payments platforms and the FedNow network. These accelerators handle FedNow Service message transformation, validation, enrichment, routing and rules enforcement, enabling send/receive capabilities without invasive core changes. This non-disruptive, core-agnostic model reduces integration complexity, shortens timelines, and supports phased adoption while creating a scalable foundation for future real-time payment innovation.

Segment type(s)

  • Consulting Firm/System Integrator
  • Financial Institution Service Provider

Solution type(s)

  • Other
  • Payment Service Providers
  • Payment Testing Platform Providers (including Sandbox Opportunities, proof-of-concept services)
  • Payments Hubs/Platforms/Payment Gateways

Use cases/markets served

  • Digital Wallet Funding/Defunding
  • Government (e.g., municipality, state, federal)
  • Health Care
  • Insurance
  • Loans (direct or indirect)
  • Other
  • P2P Payments
  • Payroll

FedNow functionality supported

  • Liquidity Management Transfers
  • Receiving FedNow Transactions
  • RFP Transactions – Businesses Receiving
  • RFP Transactions – Businesses Sending
  • RFP Transactions – Consumers Receiving
  • RFP Transactions – Consumers Sending
  • 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.