Displaying 1 - 10 of 54 Immediate Payments blog posts
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Request for Pay – What Does It Mean For Financial Institutions?
Wednesday, October 17, 2018 Paul McMeekin to Immediate Payments, Retail PaymentsWhat do banks – one with $60B+ in assets, one a mid-size regional bank, and one, a small innovative credit union – have in common with payment networks and the ‘Big 4’ consulting firms? They were all part of the first ACI #PaymentsForBreakfast event in North America! The theme was real-time payments, but the focus was more specifically on Request for Pay.
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Why Open Banking Might Need to Rely on a Magic Illusion of 24x7 Availability
Tuesday, October 16, 2018 Lu Zurawski to Immediate Payments, Retail PaymentsThe adage “the more things change, the more they stay the same” appears to ring true when applied to the early phases of the evolution of open banking (or open payments). Especially when you contrast it with the early days of ATM withdrawals; particularly those made in the dead of night so you could pay cash for your after-party greasy feast.
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Open Banking and the Evolution of Digital Payments
Tuesday, September 04, 2018The introduction of Open Banking is without doubt one of the most significant changes the European banking sector has seen in recent years. Many banks in the US, Australia and Asia are paying close attention to what’s happening in the UK and other European countries with a view toward implementing similar systems in the future.
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What's Next for SWIFT gpi and Cross-Border Real-Time Payments?
Thursday, August 30, 2018 Craig Ramsey to Immediate PaymentsRecently, I wrote about the potential benefits of SWIFT gpi for banks. Like any technology, the rate of change is accelerating, making it critical that banks keep pace with the market and with their competition. In 2018, as domestic real-time payments schemes reach near-ubiquity thanks to a combination of regulatory and customer demand drivers, we have seen an accelerated parallel trajectory for cross-border real-time gross settlement (RTGS) payments.
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Turning Impetus into Action: Real-Time Payments in ASEAN
Thursday, August 09, 2018 Leslie Choo to Immediate Payments, Payments and Industry TrendsFinancial institutions across ASEAN member states are increasing investment in payments, with 64% planning to increase investment over the next 18-24 months, compared to 56% in the broader Asia region and 53% globally. With investment in ASEAN outpacing the global average, the “2018 ASEAN Payments Insight Survey” shines a light on the key drivers for increased payments investment and the expected benefits.
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Time is Money: A Millennial View of UK Faster Payments’ 10th Anniversary
Monday, July 09, 2018 Ciaran Chu to Immediate PaymentsAs a millennial, I’ve often been the butt of jokes of those a little bit older than I am (whether colleagues or my own family). One of the clichés perpetuated is that we are constantly glued to our smartphones: In a way that’s correct, but misses an important point. As a young millennial professional, the most important thing to me is TIME. And that’s the reason my phone plays a crucial role in my life – much to the annoyance of my girlfriend and family. It means I can do things on the move, which in turn makes my life a whole lot easier.
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Instant + Open Payments = A Winning Combination
Wednesday, June 27, 2018 Craig Ramsey to Immediate Payments, Transaction BankingI recently joined a panel discussion at EBAday 2018, alongside representatives from across the payments ecosystem, and the clear consensus was that real-time payments will be the new normal. This was evidenced by some of the interactive polls carried out.
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Consumer Payments: Will ‘Request for Payment’ Be the Next 'Big Thing'?
Thursday, June 14, 2018 Dean Wallace to Immediate Payments, Payments and Industry TrendsThis week, NatWest announced that it has teamed up with British mobile phone retailer Carphone Warehouse to trial a new online shopping system that lets customers pay directly through their bank account, without using a debit or credit card.
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What Rihanna Can Teach Us About a Decade of UK Faster Payments
Tuesday, May 29, 2018 Lu Zurawski to Immediate PaymentsThe end of this month marks 10 years since Rihanna’s single, Take a Bow, reached number 1 in the UK singles charts.
Although I know a little about Barbados, I am only an amateur student of the popular Bajan singer’s lyrics. But I cannot help feeling her song reads like a commentary of the cataclysmic world of banking in 2008; “That was quite a show, but now it’s time to go,” and “You look so dumb trying to apologize… I know you’re only sorry you got caught,” or “it’s over now, go on take a bow.”
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The Business Case for Real-Time Payments in the U.S.
Wednesday, May 02, 2018 Paul Thomalla to Immediate PaymentsReal-time payments has been a hot topic for so long now that rather than asking ourselves ‘what’s the business case,’ we should really be asking how we can jump-start our real-time payments implementations.