Last month, the Federal Reserve announced new resources to facilitate education, preparation and ecosystem innovation in support of instant payments, including the launch of the Ecosystem Accelerator Group.
The Ecosystem Accelerator Group is an interest group within the FedNow Community. All payment service providers that are new or existing members of the Community will be included automatically. The group was established to support and encourage the continued development of the instant payments ecosystem. Participants will have access to self-service instant payments education and the latest FedNow Service product developments and updates.
As a catalyst for innovation, the Ecosystem Accelerator Group provides highly motivated and engaged payment processors, core banking system providers, mobile and online banking platform providers, payment hubs and gateways, bill pay/presentment service providers, and others within the FedNow Community the opportunity to:
- Influence FedNow Service design and release priorities.
- Participate in programs designed for the needs and interests of solution developers and providers.
- Ask technical questions and obtain answers relevant to this ecosystem group.
- Network with the broader FedNow Community and potential partners among financial institutions, other service providers and business clients.
If you are not already a member of the Community, you can join now (Off-site) to be invited to our next FedNow Community Town Hall webinar on December 2, where you will learn more about the Ecosystem Accelerator Group and get your questions answered by Federal Reserve experts. By attending the town hall, you will also learn about the new Service Provider Showcase.
Service Provider Showcase
The Service Provider Showcase will provide members of the Ecosystem Accelerator Group the unique opportunity to present their instant payment solutions and capabilities to financial institutions and end users that are actively looking to adopt the FedNow Service. At the same time, it will enable financial institutions and end users to survey the emerging landscape of instant payment capabilities and help them connect with service providers.
The showcase will feature both video and narrative profiles of participating service providers. Submission criteria, terms, conditions and instructions for those who wish to participate will be conveyed at the December 2 town hall. Submissions will be accepted on an ongoing basis after the town hall. Those who submit their entries early will be part of the showcase launch on the new FedNowExplorer.org website (Off-site) in early 2022.
Action Item:
Join the FedNow Community (Off-site) today to participate in the Ecosystem Accelerator Group and the Service Provider Showcase.
