Slowly but surely, the waits are disappearing in banking. Mobile banking means you don’t have to wait on line at a branch (not that there would be a line these days if you went there). Accounts can be opened within minutes, and loans are approved more quickly. Perhaps most crucially, paymentsRead More
Post Tagged with: "NACHA"
Should consumers and businesses pay for realtime payments or not? This difference of opinion is apparently creating some “discord” in the clearXchange network between the first two active members: U.S. Bank and Bank of America. Speaking to investors this morning, U.S. Bank CEO Richard K. Davis spoke on the importance ofRead More
Not so long ago bankers feared that fintech insurgents like Dwolla wanted to turn FIs into “dumb pipes” moving money around while the fintechs would own the customer experience. Payments platform Dwolla, for one, has moved past wanting to own the customer. “We’re happy to be the pipes,” CEO BenRead More
It seems ACH is too slow even for some bankers. Payments in the US lag behind much of the world and many Americans inside and outside of the financial services community would like to move their money more quickly. The Federal Reserve agrees, and convened a roundtable that determined theRead More