Competitive Benchmarking for FedNow

PostedWednesday, August 16, 2023 at 1:08 PM

Updated9/1/2023 2:15:14 AM

FedNow, a real-time payment service developed by the US Federal Reserve, aims to provide faster, more efficient, and secure payment infrastructure for financial institutions. There is an opportunity for consulting firms to provide implementation support, compliance and regulation guidance, product development assistance, training and education, and security and risk management support for financial institutions. The purpose of this analysis is to gain insight into the competitive landscape around consulting services for FedNow by looking at what other companies' knowledge on FedNow is. Capco is trying to ascertain how out in front it is against EY, KPMG, Deloitte, PwC, Accenture, and West Monroe.

FedNow, a real-time payment service developed by the US Federal Reserve, aims to provide faster, more efficient, and secure payment infrastructure for financial institutions. There is an opportunity for consulting firms to provide implementation support, compliance and regulation guidance, product development assistance, training and education, and security and risk management support for financial institutions. The purpose of this analysis is to gain insight into the competitive landscape around consulting services for FedNow by looking at what other companies' knowledge on FedNow is. Capco is trying to ascertain how out in front it is against EY, KPMG, Deloitte, PwC, Accenture, and West Monroe.

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