“Payment services hub” or “payment hubs” used to mean a consolidation of systems supporting Fedwire and ACH processing, which helped large financial institutions bring together their Commercial and Retail payment operations. Payment systems were historically [...]
If you’ve made the decision to migrate your IT architecture to the cloud, you’re in good company. In a recent report on cloud adoption, cloud usage among respondents grew to 90% while 48% [...]
ISO 20022 is a globally accepted messaging standardization approach (methodology, process, repository) to be used by all financial standards initiatives as a common platform for the development of messages. It was introduced in 2005 by [...]
A key element in accelerating receivables is to make it as easy and convenient as possible for customers, members, or policyholders to pay their bills. Electronic bill presentment and payment (EBPP) solutions like e-bills and [...]
Previously the Federal Reserve’s real-time payment rail, the FedNowSM Service, was said to launch in 2023, with no further details. However, the launch window is now more defined. The Fed has recently announced that [...]
Real-Time Payments (RTP – not to be confused with The Clearing House’s brand name RTP®) refers to payment rails (platforms or networks via which payments pass through) that share a few characteristics. The first is [...]
The popularity of faster payments in the U.S. is growing at an accelerated pace. Not only are customers expecting their goods and services on-demand, but they’re also relying on digital, social distancing-friendly solutions [...]
Thank you for tuning in to episode 40 of The CUInsight Network, with your host, Lauren Culp, Publisher & CEO of CUInsight.com. In The CUInsight Network, we take a deeper dive with the thought [...]
As the payments landscape evolves, it’s important to understand your customer/member needs when evaluating payment rail choices and settlement speed. However, one rail is not going to fulfill all the needs of all [...]
Of late, there has been a great deal of forward movement in cross-border faster payments. In April 2022, EBA Clearing, Swift, and The Clearing House announced their plan to launch a pilot service for immediate [...]
What is Buy Now, Pay Later (BNPL)? BNPL is a form of short-term financing. It allows consumers to purchase and pay for a product or service in installments. Customers typically make one upfront purchase payment [...]
Generation Z doesn’t really remember a time when they couldn’t get what they want—instantly. With everyday experiences such as 3-day Amazon Prime deliveries and ubiquitous high-speed internet taken for granted, the patience [...]
CUInsight Publisher & CEO Lauren Culp is joined by Mark Majeske, SVP Faster Payments at Alacriti for a quick interview with just 3 questions about real-time payments... Three questions: 1. (0:33) When it comes [...]
Publisher’s Note: CUInsight is hosting a free webinar Wednesday, July 27th titled, “FedNow Service 2023: Your Questions Answered”. We hope you’ll join us! Register here. With the current rate of adoption and usage [...]
Generation Z, or Zoomers, is the only generation that has not experienced life without the convenience of internet connectivity. This fact, along with the ongoing COVID-19 pandemic, has disrupted the world of traditional financial institutions. [...]
