The Clearing House

Finzly Accelerates Lead Bank-PointChain Fintech Partnership

Retrieved on: 
Tuesday, December 14, 2021
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Through its partnership with Lead Bank, PointChain can send payments and debit requests directly to Lead Bank via APIs and get instantaneous responses without utilizing legacy batch files and manual reconciliation.

Key Points: 
  • Through its partnership with Lead Bank, PointChain can send payments and debit requests directly to Lead Bank via APIs and get instantaneous responses without utilizing legacy batch files and manual reconciliation.
  • Lead Bank has focused its efforts on establishing payment processing solutions to support the complex needs of fintech companies.
  • Lead Bank 's partnership with Finzly allows the Bank to offer sophisticated payment services for technology-focused businesses and fintech companies via APIs (Application Programming Interfaces).
  • Because of Finzly, Lead Bank gives fintech companies the ability to access multiple customizable and secure banking services.

Veridian Credit Union and Alacriti Announce Launch on the TCH RTPⓇ Network

Retrieved on: 
Thursday, December 9, 2021
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Veridian Credit Union , a full-service financial cooperative with $5.5 billion in assets and more than 260,000 members, along with their third-party service provider Alacriti, announced that they are now live on The Clearing Houses (TCH) RTP network.

Key Points: 
  • Veridian Credit Union , a full-service financial cooperative with $5.5 billion in assets and more than 260,000 members, along with their third-party service provider Alacriti, announced that they are now live on The Clearing Houses (TCH) RTP network.
  • Veridians members can now receive payments in real-time from any person or business transacting on the RTP network.
  • The successful launch marks the first milestone in Veridians payments transformation journey with Alacriti, with the financial institution live on the system just ten weeks after project kick-off.
  • Veridian Credit Union, founded in 1934 in Waterloo, Iowa, is a not-for-profit financial cooperative owned by its members.

New Research Reveals Consumers Remain Uninformed of Fintech App Data Collection Practices

Retrieved on: 
Wednesday, December 1, 2021
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In particular, 2021 survey findings show that more than three-quarters of respondents were largely unaware that fintech apps:

Key Points: 
  • In particular, 2021 survey findings show that more than three-quarters of respondents were largely unaware that fintech apps:
    Can sell personal data to other parties for marketing, research, and other purposes (76%)
    In each of these areas, a majority of consumers also expressed discomfort with fintech app data practices.
  • "Once again, these numbers confirm that people want a better understanding about these practices and they want a greater say in how their personal and financial data are used."
  • The objective was to get a fresh take on what consumers are feeling in 2021 and dive deeper into their perceptions about how fintech apps access, use, store, and share their data.
  • It was conducted online and consisted of a total sample of 4,019 U.S. banking consumers: 2,013 financial app users and 2,006 non-financial app users.

Jack Henry's Clients Represent 67% of Financial Institutions on the RTP® Network from The Clearing House

Retrieved on: 
Tuesday, November 23, 2021
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Through JHA PayCenter, financial institutions enable their consumer and commercial account holders to send and receive real-time payments.

Key Points: 
  • Through JHA PayCenter, financial institutions enable their consumer and commercial account holders to send and receive real-time payments.
  • Financial institutions connected to JHA PayCenter have been involved in the movement of $325 million on the RTP network, equating to approximately 700,000 transactions since the first Jack Henry financial institution joined in December 2019.
  • American National Bank & Trust recently joined the RTP network through its collaboration with Jack Henry, enjoying the seamless integration of JHA PayCenter and the Banno Digital Platform.
  • Rusiru Gunasena, managing director of JHA PayCenter, added, "This is a great milestone for the RTP network, Jack Henry, and our clients.

NelsonHall Recognizes Paychex as a Leader in Human Capital Management

Retrieved on: 
Tuesday, November 16, 2021
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ROCHESTER, N.Y., Nov. 16, 2021 /PRNewswire/ -- NelsonHall , a leading global analyst and research firm, identified Paychex as a "Leader" in its latest annual NEAT vendor evaluation report forhuman capital management(HCM).

Key Points: 
  • ROCHESTER, N.Y., Nov. 16, 2021 /PRNewswire/ -- NelsonHall , a leading global analyst and research firm, identified Paychex as a "Leader" in its latest annual NEAT vendor evaluation report forhuman capital management(HCM).
  • Through a persistent focus on HCM software innovations that meet the new way of working, Paychex, a leading provider of integrated human capital management solutions for HR, payroll, benefits, and insurance services, has placed in the Leader quadrant of the Next Generation HCM Technology report.
  • Paychex has beenhere forus every step of the way withanswers available through the Paychex Flex portal, emails, and phone calls," said Andrews.
  • Paychex, Inc. (Nasdaq: PAYX) is a leading provider of integrated human capital management software solutions for human resources, payroll, benefits, and insurance services.

Zions Bancorporation Joins Real Time Payments Network

Retrieved on: 
Wednesday, November 3, 2021
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(NASDAQ: ZION) has joined the RTP network developed by The Clearing House, enabling its business and consumer clients to receive real-time payments.

Key Points: 
  • (NASDAQ: ZION) has joined the RTP network developed by The Clearing House, enabling its business and consumer clients to receive real-time payments.
  • The RTP network is the first new payments infrastructure built in the U.S. in more than 40 years, providing the banking industry a modern platform for 24/7 domestic real-time payments, complete with rich data capabilities and immediate payment confirmation.
  • The ability to receive immediate payments gives business and consumer clients more control over their cash flow, and were pleased to offer them this important new functionality, said Harris H. Simmons, Chairman and CEO of Zions Bancorporation.
  • The Clearing House operates U.S.-based payments networks that clear and settle more than $2 trillion each day through wire, ACH, check image, and real-time payments.

Citi’s Real Time Bill Payment Solution Now Connects Institutions with Consumers

Retrieved on: 
Monday, October 25, 2021
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With this capability, Citis institutional clients in the U.S. can send electronic bills (e-bills) via Request for Payment (RfP) messages to retail account holders at Citi and other participating banks.

Key Points: 
  • With this capability, Citis institutional clients in the U.S. can send electronic bills (e-bills) via Request for Payment (RfP) messages to retail account holders at Citi and other participating banks.
  • This full end-to-end solution is a first in the U.S., creating benefits for both Citis institutional clients and Citis consumer customers, while also supporting RfP messages to and from other participating banks within the TCH network.
  • Improving straight-through reconciliation and eliminating operational exceptions often associated with ACH direct debits and other traditional payment methods.
  • Full control over the timing of each payment, including final say over whether and when to authorize and schedule each payment.

Interactive Brokers Introduces Request for Payment Service from J.P. Morgan

Retrieved on: 
Wednesday, October 20, 2021
Professional Services, Finance, Online, Broker, Marketing, Interactive Brokers, JPM, Risk, Technology, NYSE, J. P. Morgan, Automation, Nasdaq, EVP, Chase, IBKR, Solution, The Clearing House, Payment, Clearing house, Investment, Financial services

Interactive Brokers Group (Nasdaq: IBKR), a global brokerage firm, today announced it went live with J.P. Morgan (NYSE: JPM) on Request for Payment, a real-time payment-related messaging service that is provided through The Clearing House RTP network.

Key Points: 
  • Interactive Brokers Group (Nasdaq: IBKR), a global brokerage firm, today announced it went live with J.P. Morgan (NYSE: JPM) on Request for Payment, a real-time payment-related messaging service that is provided through The Clearing House RTP network.
  • Request for Payment gives investors the ability to make instant deposits 24/7 to fund brokerage accounts and begin trading immediately.
  • Interactive Brokers is the first brokerage in the U.S. to offer the Request for Payment service to select clients.
  • Interactive Brokers has its roots in technological innovation and Request for Payment is yet another example of how we offer clients advanced technology solutions to make it simple to fund and manage accounts, said Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers.

EBA CLEARING, SWIFT and The Clearing House join forces to speed up and enhance cross-border payments

Retrieved on: 
Monday, October 11, 2021
CHIPS, Private sector, Financial Stability Board, HSBC, EURO1, J. P. Morgan, Citigroup, USD, Immediate, Finance, Solution, Clearing house, PNC Financial Services, Intesa Sanpaolo, NEW, New product development, Bank, FSB, Regional Civil Service Development Institute, RTP, EUR, EBA, Treasury, Committee, Bank of America, IXB, ISO, Intesa Sanpaolo Bank (Albania), Leadership, CPMI, The Clearing House, Partnership, Technology, TCH, Ecosystem, BBVA, Financial services

The concept could be expanded to additional currencies and is also replicable for more liquidity-efficient high-value payments.

Key Points: 
  • The concept could be expanded to additional currencies and is also replicable for more liquidity-efficient high-value payments.
  • We welcome the continued collaboration between commercial banks, SWIFT, EBA CLEARING and TCH on this initiative."
  • Our participation on both The Clearing House and EBA CLEARING payments systems means we're uniquely positioned to ensure a consistent faster payment experience end-to-end and across regions."
  • EBA CLEARING, SWIFT and TCH are planning to engage in next steps towards developing IXB.

Financial Inclusion to Be Highlighted at Executive Payments Summit

Retrieved on: 
Thursday, October 7, 2021
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"With two-thirds of people living in America not financially healthy, supporting customers with financial health solutions that drive inclusion and positive outcomes is critical," said Walster.

Key Points: 
  • "With two-thirds of people living in America not financially healthy, supporting customers with financial health solutions that drive inclusion and positive outcomes is critical," said Walster.
  • "Discussion aroundbuilding a financial health strategy that drives success is important for consumers but also your business by improving loyalty, satisfaction, and cross-sell."
  • "ePay is delighted to partner with Financial Health Network to shed light on the important topic of Financial Inclusion," said Laura Steele, President & CEO of ePayResources .
  • "The ability to send and receive payments is a critical first step, and we are eager to share collaborative strategies that financial institutions can employ."