Last week’s news that MasterCard was exploring an investment or outright acquisition of VocaLink really lit up the “News” channel on our Slack system at Glenbrook. For those unfamiliar, VocaLink is a company currently owned by 17 large U.K. financial institutions,...
Over the past few weeks I’ve had a chance to talk about the prospects for faster payments in the U.S. with representatives from both The Clearing House and the Fed. Both groups, as I’m sure you know, are actively working the space: the Fed with its...
Today, The Clearing House’s CHIPS wire payment system is 40 years old: ancient for an electronic payment system. It is one of two wire payment systems in the United States; the second is FedWire operated by the Federal Reserve. Wires constitute a relatively small...
My previous post on Wells Fargo's mobile banking for corporates was very popular, so I imagine Forte Blog readers will be interested in these recent updates to WF's CEO Mobile service: Wires: CEO Mobile users now can initiate and approve wires from...
[This is just one of my series of posts from the NACHA Payments 2008 conference in Las Vegas.]Remittance Standards for Wire Payments [NACHA Payments]Hank FarrarSenior Vice President, CHIPSLauren HargravesSenior Vice President, Federal Reserve Bank of New YorkJames...
In response to "unambiguous corporate demand" the Federal Reserve announced plans to incorporate remittance data into wire payment formats by the end of 2010. This is a major milestone in the migration of business-to-business (B2B) payments...
