This means upgrading back-office processes, evaluating accounting procedures to accommodate a seven-business-day week, arranging liquidity providers, deploying a new customer-facing application, and promoting instant payments for key use cases to customers. As the service providers featured at this event will  Information about FedNow Service stakeholder outreach and other resources can be found at this link: https://www.frbservices.org/financial-services/fednow.
4  -4demonstrate in the coming days, parts of the industry have already seized on the opportunity to build new services and capabilities that support instant payments. These efforts will increase competition in the market for end-user services and promote innovation—key benefits from providing the FedNow Service as a neutral platform, accessible to financial institutions of all sizes nationwide.