PaymentComponents readies for FedNow
PaymentComponents, a pioneer in ISO20022 migration projects, has fortified its Finaplo Financial messaging solution with FedNow payments.
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The FedNow Service is the new instant payment service that the Federal Reserve Bank will roll out in 2023 in the U.S market and will operate in parallel with the Clearing House Interbank Payments System (CHIPS).
Having great experience from thousands of Financial messaging projects and offering our Libraries to multinational companies like Mambu, NEC, JP Morgan Chase, Citi, Credit Suisse, Temenos, we decided to offer our product to US banks to accelerate their developments and to make instant payments real time.
The Finaplo solution is offered either as an online service for message validation or an API service or as an embedded SDK for messages validation. Now banks in the US can build, validate and translate their FedNow messages with the help of Finaplo and start creating innovative solutions for instant payments.