2026 EDITION | INSTANT DIGITAL DOWNLOAD
FedNow® Send & Receive with RFP Risk Assessment
The examiner-ready, auto-scoring risk assessment for FedNow participants running the full capability stack — receive, send, and Request for Payment. 97 risk items across 8 domains, including a dedicated 16-item RFP domain covering warranties, monitoring, and consumer protections, verified against the FedNow Service Operating Procedures (v3.6) and Operating Circular 8 (April 1, 2026).
Get the Risk Assessment — $999Built for full-capability FedNow participants
Request for Payment is the highest-scrutiny FedNow capability: RFP warranties, legitimate-purpose requirements, customer due diligence on requestors, anomalous-activity monitoring, and UDAAP exposure all land on your institution. This assessment covers receive, send, and RFP obligations in one workbook — so your risk assessment matches your actual participation profile.
What's inside
Protected Excel Workbook
Auto-scoring risk register with 97 prewritten risk items, likelihood / impact / control-effectiveness scoring, live summary dashboard, and a board-ready executive report — 291 input fields tracked automatically. Formulas and prefilled content are locked so the methodology stays intact.
Companion User Guide (PDF)
Step-by-step instructions, scoring methodology, and item-by-item context with citations to the FedNow Service Operating Procedures and Operating Circular 8 — including the RFP warranty provisions — so every score can be defended in front of an examiner.
Examiner-Ready Outputs
Heat-mapped domain dashboard, completion tracking, residual-risk ratings, and an executive report with prior-year trend fields — drop it straight into your board packet or exam response.
97 risk items. 8 domains. A dedicated RFP domain.
Every risk item is prewritten with a description, regulatory citation, and suggested controls — your team only scores likelihood, impact, and control effectiveness. Request for Payment gets its own 16-item domain, with RFP-specific risk woven through the rest:
- Operational (22) — origination workflows, dual controls, ACWP, returns, 24x7 operations, business continuity
- Compliance & AML (13) — BSA/AML, OFAC screening, CDD/KYC, SAR obligations, Regulation E & J, GLBA
- Fraud Risk Management (13) — APP fraud, BEC, account takeover, money mules, negative-list management, velocity monitoring
- Technology & Cybersecurity (14) — FedLine security, message signing, key management, NIST CSF 2.0, incident response
- Third-Party & Vendor Risk (5) — service provider due diligence, OC8 §15 compliance, fourth-party risk, core integration
- Liquidity Risk (6) — intraday liquidity, settlement obligations, large payments, correspondent settlement
- Regulatory & Legal (8) — regulatory change management, exam readiness, disclosures, OC8 security procedures and indemnification
- Request for Payment (RFP) (16) — RFP warranties, 95-day WNTB deadlines, pain.013/pain.014 processing, zero-dollar RFP controls, UDAAP
Frequently asked questions
What exactly do I receive?
How is this different from the Send & Receive (no RFP) version?
Is it current with the rules?
Who is licensed to use it?
The assessment scores your risk. The audit proves your controls work.
A risk assessment is prospective: it identifies exposure and scores it. An audit is retrospective: it tests, against evidence, whether the controls you took credit for actually operated. Examiners increasingly expect to see both, and an institution holding only one has a gap in either direction.
The FedNow® Send & Receive with RfP Audit covers 123 requirements across 15 sections, 58 rated High risk. Its thirteen-item Request for Payment section tests the expanded obligations at Operating Procedures v3.6 section 12 — including customer-level volume monitoring and the mandatory customer inquiry during investigation, both stated as express minimums rather than good practice.
Findings from the audit should feed your next assessment cycle, because a control that failed testing should not keep being scored as effective.
Add the RfP Audit — $999Be ready before your examiner asks
Download the FedNow® Send & Receive with RFP Risk Assessment and walk into your next exam with a completed, defensible, board-approved risk assessment.
Get Instant Access — $999This product is an educational self-assessment tool provided by Payments Professor. It does not constitute legal, regulatory, or compliance advice, and completing it does not guarantee compliance or examination outcomes. Institutions should consult their own counsel and compliance officers. FedNow® is a registered service mark of the Federal Reserve Banks. Payments Professor is not affiliated with, sponsored by, or endorsed by the Federal Reserve.
Go beyond the assessment — save 50% on the certificate
The risk assessment documents your compliance — The FedNow® Certificate Series trains your team. Eight one-hour classes, quizzes, and a certificate of completion. As a risk assessment customer, add it for $249.50 — 50% off.
Add the FedNow® Certificate — $249.50 (50% Off)