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Reimagining global banking services in the connected digital marketplace
Regulation, compliance and legacy systems have, for so long, been the stumbling blocks for financial institutions to capitalise on the new digital age where there are few barriers to international trade. Cross border payments, clearly essential when trading internationally, go to the heart of the conundrum currently facing tier two and three banks and Financial [...]
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ACH Transactions to top checks as top form of B2B payment by 2020
According to a new survey conducted by Credit Research Foundation (CRF) in partnership with NACHA, credit and account receivables professionals anticipate that ACH transactions will surpass checks as the leading form of payment received from business customers by 2020. Currently, checks account for almost 50 percent of payments (down from 63% in 2014); ACH 32% [...]
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ACH volume grows to more than 25 billion payments and $43 trillion
Following four consecutive quarters of more than 5 billion electronic payments in each quarter – a first for the ACH Network – overall volume in 2016 amounted to 25.6 billion transactions,[1] according to new statistics released by NACHA — The Electronic Payments Association. This represents an increase of 5.3% over 2015 volume, and is the [...]
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Instant payments: lessons learned from early adopters
The ability to offer instant payments has become a necessity for banks around the world as they keep up with customer expectations and set themselves up strategically for the future. As the development of instant payment infrastructures spreads around the world and existing systems mature, the number of banks connecting to these systems is growing [...]
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PSR annual – Access and governance report on payment systems
The Payment Systems Regulator (PSR) was established to promote effective competition and innovation in payment systems. Ensuring open access to participants and potential participants is a key component of this. The PSR’s open access programme has been a cornerstone of its work and is now delivering meaningful results for service-users. Over the last year the PSR says [...]
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