ACI Worldwide and FedNow
Get Ready for the FedNow® Instant Payments Service
Jumpstart your real-time payments revolution by getting access to the connections you need to seamlessly integrate into the FedNow service network
Instant Payments With the FedNow Service
Get started quickly and grow revenues through custom and pre-built integrated solutions that work within your existing payment systems. Gain access to experts who have worked closely and collaboratively with the Federal Reserve FedNow team throughout every step of development, enabling you to connect payees with payers in real time.
Meet Real-Time Payment Needs and Deployment Choices
From last mile connectivity through to full payments orchestration, develop an implementation plan that accelerates integration time, lowers costs and mitigates risks. All solutions come protected with scalable fraud management services, value-added business services — such as core banking and liquidity management — and includes your choice of deployment and management options:
- On-premise or customer cloud deployment of our software
- ACI cloud-managed SaaS payment options
Control your FedNow instant payments strategy with world-leading, enterprise fraud management powered by incremental machine learning.
- Launch the FedNow Service with a fully-managed solution that delivers against increasing consumer demands with ACI Fraud Management for Banking
- Effortlessly stay ahead of instant payments fraud with fully managed, automated fraud scoring services
Experience You Can Trust
With an instant payments footprint in more than 17 countries, 25 domestic and pan-regional real-time schemes across six continents, and a member of the FedNow Pilot Program, ACI is a trusted adviser for real-time payments.
Get Started Early
As we move closer to the FedNow instant payments launch date in July, it’s important that financial institutions begin their onboarding journey as soon as possible. ACI is here to help and guide you.
One Scalable Connection
Connect to our SaaS-managed service platform ISO 20022/API interface and gain access to the U.S. low-value payments market. Your credit transfer will look the same to you — regardless of network.
Full FedNow Service Support
Receive support for all FedNow participation types and all FedNow messages. Whether taking a phased approach to send/receive or launching at scale, our team of experts is here to meet your needs.
“Instant payments are going to grow much faster than they have in the past and I think Americans generally are going to get a lot more comfortable with the idea of real-time payments.”
President and CEO, ACI Worldwide
What is the FedNow Service?
The FedNow Service is an instant payments service being developed by the United States Federal Reserve Bank (Fed). The FedNow Service is designed to offer uninterrupted 24/7/365 processing and will feature integrated clearing functionality, enabling financial institutions to deliver end-to-end instant payment services to their customers.
Will FedNow replace the ACH Network?
Rather than replace ACH or Same Day ACH, the FedNow Service is expected to provide greater redundancy for payment operations, thereby preventing any potential payment network bottlenecks. In the longer term, the Fed intends to establish payments interoperability between the FedNow Service and ACH.
How is FedNow being rolled out?
Starting this July, the FedNow Service will roll out in stages; the initial launch will include core clearing and settlement functionality, Request for Pay capability and tools to support reconciliation.
How will financial institutions benefit from FedNow?
The FedNow Service is expected to: Make instant payments technology accessible to a wider audience, including smaller community banks, thereby increasing equitable access for all businesses and individuals; Reduce overall payment processing costs for banks and other non-bank financial institutions; Provide individuals with instant access to paychecks and other electronic fund transfers for improved cash flow management; Optimize liquidity management and cash flow forecasting for businesses, enabling them to better manage operational expenses and maintain positive vendor relationships; Conform to the new ISO 20022 standard, enabling participants to send and receive rich data, including non-value message types and Request for Payment messages; Promote instant payments security through the development of industry-wide standards for disputing fraudulent transfers, ISO 20022 conformity and the use of payments authentication
How will ACI support FedNow?
In preparation for its target release date, the Fed has asked more than 110 organizations — including ACI Worldwide — to participate in its FedNow Pilot Program. As a program participant, ACI has helped shape the FedNow Service’s features and functions, provided input into the overall user experience and ensured readiness for testing, all of which help define the FedNow Service and adoption roadmap, industry readiness approaches and overall instant payments strategy. As a result, ACI has a team of FedNow experts and FedNow-ready solutions to provide support for all FedNow participation types and messages.
Future-Proof with Real-time
Regardless of where you are in your instant payments journey, take advantage of this real-time opportunity. Contact our FedNow payment experts for your consultation today!
ACI has 45 years of payments expertise and customers in 95 countries, including: