Major Milestone: Next Steps Toward Electronic Remittance Delivery
The Remittance Delivery Assessment Work Group recently released a recommendations report where they determined it is feasible to establish a business-to-business remittance exchange framework, similar to the electronic invoice (e-invoice) exchange framework, with some minor adaptations. Read the recommended next steps.
FedNowSM Pioneers of Now: Defining the Future of Payments
FedNow Pioneers of Now represent financial institutions and service providers united by their commitment to early adoption of the FedNow Service. Malinda Rickel, chief operating officer of The Bankers’ Bank, shares her outlook on the future of instant payments and key benefits she envisions on a global scale.
Payments Improvement News and Announcements
Fraud Detection Technology, Data Strategy and Information Sharing
Recent additions to the Federal Reserve’s Synthetic Identity Fraud Mitigation Toolkit offer new resources about fraud detection technology, data strategy and the value of information sharing within the industry to help fight synthetic identity fraud. Explore the full toolkit.
Eric Dunn on Future-Proofing Financial Services
Eric Dunn is the CEO of Quicken and among the company’s longest-tenured employees. Like many in financial services, their approaches are evolving alongside a world of rapidly changing needs and technology, including the increased demand for faster and instant payments. Read about Eric’s perspectives in this spotlight article.
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Top Headlines in Payments
FedNow Will Propel Real-Time Payments Into the Banking Mainstream (Off-site)
The Financial Brand – 6/15/22
More Crooks Tapping ‘Synthetic Identity Fraud’ to Commit Financial Crimes (Off-site)
PC Magazine – 6/8/22
What U.S. Banks Need to Know About FedNow (Off-site)
Digital Transactions – 6/1/22
FedNow Will Let Banks Delay Instant Payments to Prevent Fraud (Off-site)
PYMNTS.com – 5/20/22
“FedNow” is a service mark of the Federal Reserve Banks. A list of marks related to financial services products that are offered to financial institutions by the Federal Reserve Banks is available at FRBservices.org®.