A Call for Collaboration - Building a FedNowSM Innovation Sandbox
The Federal Reserve is evaluating the potential to enable a widely available innovation sandbox that provides both financial institutions and the broader payments ecosystem with an environment to experiment, identify opportunities, build concepts, and test partner value chains and new business models with FedNow Service capabilities.
We are planning to issue a Request for Information (RFI) for organizations that are interested in working with the Federal Reserve to deliver this environment. Opportunities to contribute could include sandbox hosting, middleware, tooling and/or an area for open API access to allow for collaboration across participants in a marketplace.
We are looking for an organization(s) that:
- Has experience designing and operating a secure platform with effective access management controls and processes,
- Has an existing product/service offering that can be leveraged for quick time-to-market delivery,
- Demonstrates proven experience with building or offering a sandbox environment (including, but not limited to, hosting, middleware, APIs, etc.), and
- Is capable of deploying and maintaining product/service, associated data and support solely in the continental United States.