Big banks launch real-time payments network

Six banks announced the formation of a secure, real-time payments network Monday. The enhanced platform will be open to credit unions and banks of all sizes.

“We are combining our collective, bank-owned digital payments network (clearXchange) with our fraud, risk and authentication assets (Early Warning), to further ensure that our customers can send money, confidently, securely and in real-time via their financial institutions,” the CEOs of Bank of America, BB&T, Capital One, JPMorgan Chase, U.S. Bank and Wells Fargo said in a joint statement.

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