2026 EDITION | INSTANT DIGITAL DOWNLOAD
FedNow® Send & Receive Risk Assessment
The examiner-ready, auto-scoring risk assessment for FedNow participants that originate and receive instant payments (without Request for Payment) — 81 risk items across 7 domains, verified line-by-line against the FedNow Service Operating Procedures (v3.6) and Operating Circular 8 (April 1, 2026).
Get the Risk Assessment ā€” $899Built for banks and credit unions that send and receive
Once your institution originates FedNow credit transfers, your risk profile changes fundamentally: irrevocable outbound payments, real-time fraud screening before release, customer authorization, sending limits, and 24x7 liquidity obligations. This assessment covers the complete send-and-receive obligation set — origination and receipt — without the Request for Payment content you haven't enabled.
What's inside
Protected Excel Workbook
Auto-scoring risk register with 81 prewritten risk items, likelihood / impact / control-effectiveness scoring, controls checklist, live summary dashboard, and a board-ready executive report. 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 — so every score you enter 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.
81 risk items. 7 domains. Send-side and receive-side.
Every risk item is prewritten with a description, regulatory citation, and suggested controls — your team only scores likelihood, impact, and control effectiveness. Coverage spans the full send-and-receive obligation set:
- Operational — origination processing, 24x7 availability, returns and exception handling
- Compliance / BSA-AML — outbound and inbound screening, SAR/CTR, OFAC sanctions
- Fraud Risk Management — authorized push payment (APP) fraud, account takeover, money mules
- Technology & Cybersecurity — connectivity, message processing, credential security, resilience
- Third-Party Risk — core processors, TPSPs, and vendor oversight
- Liquidity & Settlement — 24x7 funding of irrevocable outbound payments
- Regulatory / Legal — FSOP, OC8, Regulation J, Regulation E, and UCC 4A exposure
Frequently asked questions
What exactly do I receive?
We plan to add Request for Payment later ā€” which version should we buy?
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 Audit covers 110 requirements across 14 sections, 50 rated High risk, each cited to Operating Circular 8 and Operating Procedures v3.6. Two full sections test origination: payment order requirements, duplicate payment controls, exposure limits, and customer authorization under Regulation E and Article 4A.
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 Send & Receive Audit ā€” $899Be ready before your examiner asks
Download the FedNow® Send & Receive Risk Assessment and walk into your next exam with a completed, defensible, board-approved risk assessment.
Get Instant Access ā€” $899This 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 ā€” 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 FedNowĀ® Certificate ā€” $249.50 (50% Off)