The Clearing House

Fintech Market Size Projected To Grow To $882 Billion By 2030 as Advanced Technologies & Services Expand

Retrieved on: 
Tuesday, March 19, 2024
GPN, Galileo Galilei, Global Payments, Environment, Fintech, ACH, International, International Financial Reporting Standards, PALM, Webcast, Luigi, Location, News, Acquisition, Insurance, PayPal, Silicon, PYPL, RTP, USD, The Clearing House, NU, Clearing house, Cryptocurrency

These services are typically delivered over the cloud, allowing other companies to integrate and use financial technology capabilities without developing these technologies in-house.

Key Points: 
  • These services are typically delivered over the cloud, allowing other companies to integrate and use financial technology capabilities without developing these technologies in-house.
  • A report from Fortune Business Insights projected that the fintech market size is projected to grow to USD 882.30 billion by 2030, exhibiting a CAGR of 17% during the forecast period (2023-2030).
  • Fortune Business Insights continued: “Moreover, the economic impact of the pandemic led to an increased demand for lending and credit services.
  • North America is leading the fintech market share globally with market value of USD 89.61 billion in 2022.

NetXD Launches Cloud-based Solution for the RTP® Network as a Third-Party Service Provider

Retrieved on: 
Thursday, March 21, 2024
Professional Services, Security, Technology, Software, Finance, Fintech, Banking, TCH, Business, ACH, Business development, Ecosystem, API, RTP, Connector, The Clearing House

NetXD has achieved a significant milestone with its launch as a Third Party Service Provider (TPSP) for The Clearing House’s (TCH) RTP® network.

Key Points: 
  • NetXD has achieved a significant milestone with its launch as a Third Party Service Provider (TPSP) for The Clearing House’s (TCH) RTP® network.
  • This marks the launch of one of the industry’s first fully cloud-based solutions for the RTP network, empowering financial institutions with unmatched agility, scalability, and security.
  • NetXD’s solution for the RTP network is set to remove reconciliation bottlenecks, provide real-time fraud checks, and unlock 24/7 payments for financial institutions.
  • “This cloud-based solution should help further accelerate the onboarding of new banks onto the RTP network, as we continue to grow our ecosystem."

CHIPS Liquidity Algorithm Saves Financial Industry Billions

Retrieved on: 
Tuesday, April 2, 2024
Risk, Senior, Leg, USD, Friction, The Clearing House, Citigroup, New product development, Barclays, Private sector, Clearing house, Bank

NEW YORK, April 2, 2024 /PRNewswire/ -- Participants on CHIPS®, the largest private sector high-value clearing and settlement system in the world, receive significant economic benefits due to its patented liquidity savings algorithm. In 2023 this algorithm generated an economic value for CHIPS participants and the financial system of $4.99 billion, or $13.8 million per day, estimates The Clearing House, the operator of CHIPS and the leading innovator and operator of U.S. payments networks.

Key Points: 
  • Financial institution participants on CHIPS benefit from enhanced liquidity efficiency that saves the industry almost $14 million per day.
  • In 2023 this algorithm generated an economic value for CHIPS participants and the financial system of $4.99 billion.
  • The economic value to participants and the industry from the liquidity efficiency of CHIPS can be approximated by considering the opportunity cost of routing CHIPS payments, which in 2023 averaged $1.8 trillion per day, through less liquidity efficient payment channels.
  • Beyond this economic value, the liquidity efficiency of the CHIPS network allows CHIPS participants and their customers to deploy scarce liquidity more flexibly and contributes to a more nimble and less risky financial system.

Galileo Expands Collaboration with The Bancorp to Offer Real-Time Payments via The Clearing House

Retrieved on: 
Monday, March 4, 2024
Data Management, Banking, Accounting, Technology, Professional Services, Payments, Small Business, Security, Software, Fintech, Finance, Clearing house, Galileo Galilei, Financial Technologies Group, ACH, RTP, Luigi, The Clearing House, Partnership

Real-time payments are available any time of day, year-round, ensuring the instant availability of funds even when traditional methods such as ACH and wires are unavailable.

Key Points: 
  • Real-time payments are available any time of day, year-round, ensuring the instant availability of funds even when traditional methods such as ACH and wires are unavailable.
  • Businesses can offer real-time payments to their customers via Galileo and The Bancorp.
  • Enhanced Customer Satisfaction: The speed and convenience of real-time payments significantly enhance the customer experience, eliminating delays in payments.
  • “With this integration between The Bancorp and Galileo, we can offer a swift, efficient way to ensure faster money movement today.”

The Tel-Aviv Stock Exchange Reports the Results of the Financial Statements for the Fourth Quarter and Full Year 2023

Retrieved on: 
Wednesday, March 6, 2024
ISA, Initial public offering, Tel Aviv Stock Exchange, Ministry, POP, TEL, OTC, Bank, Investment, Marketing, Growth, ETF, AUM, Sale, The Clearing House, Clearing house, Government, Communication, Net income, Blinking, COCO, Judicial reform, Policy, TA-35, Corporation, Worldwide Angel, Bank statement, Jefferies, Video game

Revenues in the fourth quarter totaled NIS 101 million, compared to revenues of NIS 86 million in the corresponding quarter last year, an 18% increase.

Key Points: 
  • Revenues in the fourth quarter totaled NIS 101 million, compared to revenues of NIS 86 million in the corresponding quarter last year, an 18% increase.
  • The adjusted profit in 2023 totaled NIS 89 million, compared to NIS 51 million in 2022, an increase of 74%.
  • The adjusted profit in the fourth quarter totaled NIS 23 million, compared to NIS 13 million in the corresponding quarter last year, an increase of 70%.
  • TEL AVIV, Israel, March 6, 2024 /PRNewswire/ -- The Tel-Aviv Stock Exchange Ltd. (TASE: TASE) today announced its financial results for the fourth quarter ended December 31, 2023 and for 2023.

Volante Technologies' Deepak Gupta appointed to the U.S. Faster Payments Council Board Advisory Group

Retrieved on: 
Wednesday, February 28, 2024
FPC, Volante, Barometer, Clearing house, Ecosystem, The Clearing House, Management

NEW YORK, Feb. 28, 2024 /PRNewswire/ -- Volante Technologies, the global leader in payments as a service, today announced the appointment of Deepak Gupta, EVP Product, Engineering & Services at Volante, to the U.S. Faster Payments Council (FPC) 2023-2024 Board Advisory Group.

Key Points: 
  • Faster Payments Council (FPC) 2023-2024 Board Advisory Group .
  • Luhtanen continued, "According to our 2023 Faster Payments Barometer survey, 78% of financial institutions say faster payments are necessary for their organization.
  • "Faster payments are at the forefront of innovation in the financial services industry," said Deepak Gupta, EVP Product, Engineering & Services, Volante Technologies.
  • Check out the latest Faster Payments Barometer for more information on today's faster payments perceptions, trends, and practices.

Trice is a New Technology Provider for the RTP® Network from The Clearing House

Retrieved on: 
Wednesday, February 14, 2024
FedNow, Trans-Pecos, API, A2A, Clearing house, Business development, RTP, Business, Trice, As a service, The Clearing House, Fintech, Running, Cryptocurrency

AUSTIN, Texas, Feb. 14, 2024 /PRNewswire/ -- Today, Trice announced its launch as a technology provider and real-time payments gateway for the RTP® network from The Clearing House, with TransPecos Banks as Trice's partner for the bank's real-time payments. Trice's future-proof modern payments gateway is built specifically to support real-time account-to-account payments and deposits with scalable infrastructure, streamlined onboarding, and simplified operations; making it easy for digital wallets, investing apps, lending apps, payment providers, and fintech's to move money.

Key Points: 
  • AUSTIN, Texas, Feb. 14, 2024 /PRNewswire/ -- Today, Trice announced its launch as a technology provider and real-time payments gateway for the RTP® network from The Clearing House, with TransPecos Banks as Trice's partner for the bank's real-time payments.
  • "Becoming a technology provider that offers connectivity to the RTP network through depository institutions is a tremendous achievement, and we're beyond grateful to The Clearing House and TransPecos Banks for helping make it possible," said Doug Yeager, CEO, and Co-founder of Trice.
  • "We're focused on opportunities to continue to grow the RTP network ecosystem, including many opportunities with innovators and technology providers such as Trice."
  • "Becoming an RTP® technology provider is a rigorous process," said Linda Loof Head of BaaS Partnerships, at TransPecos Banks.

Cross River and Aeropay Partner to Boost Instant Payouts for Gaming

Retrieved on: 
Wednesday, February 7, 2024
Other Professional Services, Data Management, Technology, Finance, Fintech, Banking, Professional Services, Electronic Commerce, Electronic Games, Digital Cash Management, Digital Assets, Other Technology, Casino, Gaming, Payments, Software, Entertainment, RTP, ACH, Partnership, The Clearing House, Cross River Bank, Clearing house, API

“We’re proud to partner with innovators like Aeropay, who are solving pain points across verticals and providing real-time and instant access to user funds.”

Key Points: 
  • “We’re proud to partner with innovators like Aeropay, who are solving pain points across verticals and providing real-time and instant access to user funds.”
    With a focus on transaction compliance and state-by-state regulatory approval, Cross River and Aeropay utilize custom API integrations to seamlessly onboard operators and give players access to instant payouts, while providing security through real-time transaction monitoring.
  • Facilitated by Cross River, an early participant in the RTP® network built by The Clearing House, instant payouts allow users instantaneous access to their winnings on the weekends, building player satisfaction and loyalty.
  • "Partnering with forward-thinking institutions like Cross River enables us to deliver more tangible value to users and operators," said Daniel Muller, CEO of Aeropay.
  • One of Cross River’s fastest-growing RTP® providers, since enabling instant payout capabilities, Aeropay has seen a peak of 50% more high-frequency users, signaling the value of instant payouts to Aeropay users.

CSI Banking Priorities Report: Digital Account Opening, AI, Digital Wallets Emerge as Leading 2024 Initiatives for Community Banks

Retrieved on: 
Thursday, February 1, 2024
Software, Finance, Artificial Intelligence, Banking, Data Management, Professional Services, Technology, Fintech, Attention, Clearing house, Research, AI, Fraud, Heart, The Clearing House, Machine learning, AML, Longevity, Marketing, Investment, Artificial intelligence, Automation, Communication, CSI, Acquisition, Education, Optimism, FedNow, Cryptocurrency

“The Banking Priorities report exemplifies the strength, stability and longevity of the community banking market,” said David Culbertson, CEO and president of CSI.

Key Points: 
  • “The Banking Priorities report exemplifies the strength, stability and longevity of the community banking market,” said David Culbertson, CEO and president of CSI.
  • “Seeing financial wellness also ranking highly on bankers’ priorities reinforces a community bank’s opportunity to serve as the epicenter of their community’s financial health.
  • Such priorities reflect an emphasis on overall digital engagement, aligning naturally with digital account opening leading bankers’ technology investments in 2024.
  • “For example, enabling push provisioning within their digital banking platform is a win-win.”
    To access the full report, click here .

Mastercard and The Clearing House Extend Partnership on Real-Time Payments

Retrieved on: 
Wednesday, January 24, 2024
Professional Services, Payments, Technology, Software, Finance, Electronic Commerce, Banking, The Clearing House, House, Partnership, Clearing house, RTP, History, TCH, Mastercard, Safety, EVP, Financial services

Mastercard and The Clearing House (TCH) have announced an extended multi-year partnership, bringing the companies together to collaborate on innovative capabilities for consumers, businesses and governments to evolve and embrace the digital economy through real-time payments (RTP) adoption on the RTP® network.

Key Points: 
  • Mastercard and The Clearing House (TCH) have announced an extended multi-year partnership, bringing the companies together to collaborate on innovative capabilities for consumers, businesses and governments to evolve and embrace the digital economy through real-time payments (RTP) adoption on the RTP® network.
  • Instant payments became a reality in the U.S. in 2017 when The Clearing House launched the RTP network, the first new payment rail in 40 years designed and powered by Mastercard.
  • “Our long-term partnership with The Clearing House supports choice in payments through the enablement of modern and ubiquitous real-time rails for bank-owned payments.
  • We're pleased to extend and enhance our support of The Clearing House and its owner banks to deliver on our mutual goals to provide safety, reliability, and efficiency of real-time payments."