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Collaborations Bringing Faster Payments Up To Speed

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In this month’s Faster Payments Tracker™ , powered by NACHA, payment providers, in efforts to keep up with modern behavior, are looking for new ways to streamline and quicken financial processing. There are a lot of non-payment messaging capabilities that we think will provide tremendous opportunity for innovation.”.

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The Challenges And Benefits Of ISO 20022 Migration

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High-value payment systems operated by the U.S. Federal Reserve and TCH, Europe’s Eurosystem and EBA CLEARING and the U.K.’s SWIFT’s decision to replace its existing cross-border payment messaging service with ISO 20022 represents another significant push in that direction — one that could have ripple effects.

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Clearing Up The Case For ISO 20022

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This “standard for standards” is designed to set the tone for a global financial industry message scheme, but unfortunately it is often misunderstood. At its core, Jan Estep, President and CEO of NACHA , explained that ISO 20022 is all about creating a standardized approach to building messaging standards across financial services.

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Coming Together To Bring Faster Payments To Life

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When The Clearing House (TCH), the payments firm owned by commercial banks, along with global software and services provider FIS, recently submitted their proposal to the Fed’s Faster Payments Task Force in order to evaluate their real-time payments system proposal, it signified a milestone along the path toward real-time payments.