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SnapRefund

SnapRefund

Solution(s): ClaimsSnap & AgentSnap
Website(s): snaprefund.io (Off-site)
Contact: Anis Taylor, anis.taylor@snaprefund.io

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Services and products to support the FedNow® Service

SnapRefund can act as a payment hub and application layer on top of the FedNow Service, helping insurers and financial institutions adopt real-time payments without building complex infrastructure themselves. Through API integrations, bank connectivity and no-code tools, it enables organizations to connect their core systems (like claims and billing platforms) directly to the FedNow Service. This reduces implementation complexity while ensuring compliance, security and interoperability with participating banks.

On the product side, SnapRefund’s solutions, such as ClaimsSnap and AgentSnap, translate the FedNow Service’s instant payment capabilities into practical business use cases. Insurers can issue real-time claim disbursements to policyholders within seconds, replacing slow checks or ACH transfers while also enabling instant premium collection and billing workflows. These tools support multi-party approvals, automated reconciliation and embedded customer experiences (e.g., payments via email or SMS), turning faster payments into fully automated, end-to-end financial processes. Overall, SnapRefund supports both implementation and innovation: It provides the infrastructure and compliance layer needed to access the FedNow Service while also delivering industry-specific workflows that unlock new value, such as immediate claims payouts, real-time policy activation and streamlined payment operations. This positions SnapRefund as a bridge between the FedNow Service’s core rail and real-world, customer-facing financial services.

Segment type(s)

  • End-User Service Provider

Solution type(s)

  • Payment Service Providers

Use cases/markets served

  • Insurance

FedNow functionality supported

  • N/A

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.