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February 14, 2025

Top Post

Iso® 20022 Implementation Rescheduled to July 14, 2025 for the Fedwire® Funds Service

frbservices

"The Federal Reserve Financial Services (FRFS) has worked with the industry to prepare for the implementation of the new ISO 20022 message format for the Fedwire Funds Service. After an assessment of customer readiness, FRFS has decided to reschedule the Fedwire Funds Service ISO 20022 implementation from March 10 to July 14, 2025. The Fedwire Funds Service will remain on the current message format until July 14 and announce its final “go” or “no go” decision for July 14 no later than June 27."

On the web

Sage Intacct Further Advances AI for Finance Teams

Sage

"Sage announced innovative AI-driven tools and automation features for Sage Intacct. Introduced in December 2024, Sage Copilot, a generative AI-assistant for accounting, delivers AI-driven capabilities that enable finance teams to streamline workflows and improve month-end close efficiency with features like Search Help, Variance Analysis and Close Assistant."

Did Card-Present Fraud Rates Decline in the United States After the Migration to Chip Cards?

Kansas City Fed

"The U.S. payment industry began migrating to EMV chip-card technology in the mid-2010s to mitigate card-present fraud, especially counterfeit fraud. However, for non-prepaid debit card transactions processed by dual-message networks, the counterfeit fraud rate has not declined, and the lost-or-stolen fraud rate and overall card-present fraud rate have increased. For these transactions, card-present fraud loss rates have declined for issuers but increased for merchants and cardholders."

February 13, 2025

On the web

Regions Bank Announces Latest Innovation to Help Companies Streamline Cash Flow

Business Wire

"Regions Bank announced its latest offering designed to help Treasury Management clients better manage cash flow, optimize liquidity, reduce risks and more clearly anticipate business needs. The name of the solution is Regions Embedded ERP Finance. Regions’ clients now have the option of using this tool, powered by Koxa, to seamlessly connect financial data to their own enterprise resource planning (ERP) systems."

Corpay Cross-Border Launches Multi-Currency Accounts

Business Wire

"Corpay, Inc. announced that Corpay’s Cross-Border business has introduced Multi-Currency Accounts, enabling ever-growing businesses to expand their global footprints while enjoying hassle-free and seamless foreign currency management, in one single point of access."

February 12, 2025

Top Post

Powell Squashes the Possibility That the Fed Will Develop Its Own Digital Currency

CNBC

"Federal Reserve Chair Jerome Powell asserted Tuesday that the central bank will not develop its own digital currency as long as he is in charge. Ending several years of speculation whether the Fed would join some of its global counterparts, including China, in developing a formal cryptocurrency like bitcoin or its many peers, Powell said during a Senate hearing that the project would not go forward."

On the web

On the wires

February 11, 2025

On the web

February 10, 2025

On the web

BNY Sends Largest Instant Payment in U.S. History, $10 Million Following Transaction Limit Increase

The Clearing House

"The Clearing House and The Bank of New York Mellon Corporation announced the completion of the largest instant payment in U.S. history and the first-ever payment on the RTP® network exceeding $1 million, following the recent increase in the network’s transaction limit. The $10 million inter-company liquidity management payment, from Computershare, to an account at another financial institution, marks a milestone in the evolution of instant payments."

February 7, 2025

On the web

February 6, 2025

On the web

P2P Brings Digital Finance to Brazilians in the USA - Launches Ahead of Schedule With Mbanq’s Embedded Finance Platform

Business Wire

"P2P, an innovative digital finance platform tailored for the Brazilian community in the United States, is now live—launching two months ahead of schedule in partnership with Mbanq, a global leader in financial technology and Embedded Finance. By leveraging Mbanq’s comprehensive technology, white-label app, and regulatory expertise, P2P delivers a seamless suite of financial services designed to meet the unique needs of Brazilians in the U.S."

February 5, 2025

On the wires

TransUnion Introduces TruVision Alternative Bank Risk Score to Help Lenders Better Assess Consumers With Limited Credit Histories

GlobeNewswire

"Despite a strong employment picture, some consumers are still struggling financially due to elevated inflation and higher than normal interest rates. In an effort to provide lenders with a clearer picture of thin- or no- file consumers, including those who may not be gaining sufficient access to credit, TransUnion introduced today the TruVision Alternative Bank Risk Score."

February 4, 2025

On the wires

FIS Unlocks Second Half of FedNow Instant Payments Network Potential With New Send Certification

FIS Global

"FIS today announced it is one of the first providers in the fintech industry certified to enable send capabilities for credit transfers in the Federal Reserve’s FedNow instant payment service. The addition of send capabilities and real-time alerts will enable FIS’ financial institution clients to fully harness the entire FedNow service by providing their consumers and commercial borrowers with a modernized and unified digital payment experience."

February 3, 2025

On the web

RTP® Network Doubles Volume in 18 Months, Surpassing 1 Billion Transactions and Driving U.S. Payment Innovation

The Clearing House

"The RTP® network has achieved a major milestone, surpassing 1 billion payments – just 18 months after crossing the 500 million transaction mark. After taking more than five years to reach the first half a billion payments, the network’s recent rapid growth underscores the expanding acceleration of instant payments adoption in the United States."

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