A2A Brokerage Roundtable Recap
The Federal Reserve recently hosted a roundtable for brokerage firms interested in learning about the FedNowSM Service account-to-account (A2A) use case and to further engage the firms on the Service release. Select firms offered their initial impressions of how instant payments could solve their customer pain points and how Request for Payment (RFP) could enhance customer experience. The conversations were fruitful, and participants expressed interest in further exploring the benefits of the A2A use case for their organization to enhance funding brokerage accounts and a desire to explore other use cases
Additional takeaways included:
- Consensus among the brokerage firms that their customers want the ability to transfer funds between their accounts more quickly.
- RFP could unlock new use cases, enhance customer experience and aid in reconciliation.
- Participants noted interest in corporate use cases and learning how the FedNow Service may support them.
For more information on FedNow Service features and functionality, download the FedNow product sheet (PDF). You can also stay up to date on our progress by joining the FedNow Community or by signing up to receive FedNow Service emails.