To continue U.S. progress toward faster payments, ABA and several other leading organizations and institutions in the payments industry today launched the Faster Payments Council.
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Read on for further insights on faster payments, open banking, security and more.
The Federal Reserve System today issued a request for comments on potential Fed actions to accelerate interbank settlement of faster payments, including the idea of the Fed banks developing a 24/7/365 real-time settlement service and a liquidity management tool to support this service.
NACHA has approved three new rules that will expand the capabilities of same-day ACH for banks and bank customers, including expanded hours and a higher per-transaction dollar limit.
Real-time banking is where the market has moved. The biggest risk for community banks is to do nothing in this space.
A recommendation by friends or family members is the main reason consumers cite for adopting a new person-to-person payment solution, according to survey results commissioned by Early Warning Services and released today.
The Federal Reserve is seeking public feedback on a proposal to adopt the International Organization for Standardization’s 20022 message format for its Fedwire Funds Service instead of its current proprietary format.
As the leader of a 32-person R&D team helping U.S. Bank’s business lines implement new technology and scout out the most promising financial innovations, Dominic Venturo is on the front lines of fintech innovation in the banking world. On the latest episode of the ABA Banking Journal Podcast, Venturo talks about recent and upcoming innovations that U.S. Bank is rolling out.