In the latest FedNow Service news, the Federal Reserve announced that 57 early adopter organizations, including financial institutions and service providers, have completed formal testing and certification in advance of the FedNow Service's launching today - AND MILLENNIUM CORPORATE IS ONE OF THEM! As is our partner, Juniper Payments!
Millennium Corporate was accepted as a pilot back in December 2020, along with about 120 other entities - credit unions, corporate credit unions and service providers, to name a few. The Pilot Program was designed to support development, testing and adoption of the FedNow Service - as well as to encourage development of services and use cases that leverage FedNow functionality. "Serving as a FedNow pilot allows us to be in on the ground floor of an industry changing initiative," states Larry Eisenhauer, President/CEO. "Participating in the FedNow pilot not only demonstrates and delivers on our promises of commitment, cooperation, and leadership, it is an exercise in growth and collaboration amongst the financial services industry, and an opportunity to create the best-in-house all-inclusive, real-time payment system."
Years of hard work are coming together as the Federal Reserve Bank's FedNow Service is finally launching! We'll be back in your mailbox soon with additional updates.
Read full Federal Reserve Bank press release here.
If you have questions about FedNow, please email engage@millenniumcorporate.org.