Krossroads™ Engine for the FedNow™ Service
The Krossroads™ Engine for the FedNow™ Service, is a client implementation of all the FedNow service capabilities that will be available at initial launch.
By deploying the Krossroads™ Engine for the FedNow™ Service, a financial institution will be able to take advantage of all or a custom selection of the available FedNow capabilities.
Aside from supporting all the FedNow capabilities that will be available at launch, the platform agnostic Krossroads™ Engine for the FedNow™ Service provides a programmable interface (APIs & Webhooks) which will enable financial institutions to seamlessly integrate their existing software stack with the Krossroads™ Engine for the FedNow™ Service and quickly start leveraging FedNow service capabilities.
Krossroads™ Commerce Blocks for FedNow™
The Krossroads™ Commerce Blocks for FedNow™ is a white label suite of features and tools that financial institutions can deploy to enable individual and business customers to take advantage of the benefits that accrue from being able to send and receive FedNow instant payments.
The features provided by the Krossroads Commerce Blocks address specific use cases which enable individuals, businesses, utilities and governmental entities to leverage FedNow instant payments. These include:
e-Invoicing
Electronic invoices backed by FedNow Request for Payment.
Bill Settlement
Bill settlement including bulk and recurring bill presentment and payment, specifically geared towards utilities and governmental entities.
Payment Automation
Automation of recurring bill payments for individuals and businesses.
Payouts
Bulk payouts for businesses and governmental entities.
Krossroads™ Simulator for the FedNow™ Service
The Krossroads™ Simulator for the FedNow™ Service is a cloud based turnkey application that simulates all the FedNow service capabilities that will be available at launch. The simulator is intended to be used to support testing, development and training activities by receiving requests and dispatching responses as defined in the FedNow ISO 20022 standard for FedNow service. This includes.
Standardized
Generating well-formed ISO 20022 requests and responses, using simulated or pre-recorded data.
multi-faceted
Simulating both as a receiving Financial institution and a sending Financial institution.
Versatile
Randomly responding with happy path, partial and failure responses.
Automation
Recording and replaying multi-step scenarios and inbuilt support for continuous integration.
