Pack It Up, Pack It In
Inventorying current systems is a vital component of your ongoing Payments Strategy. And a word to the wise: revising your product line may not mean adding more.
October 11, 2024
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Inventorying current systems is a vital component of your ongoing Payments Strategy. And a word to the wise: revising your product line may not mean adding more.
For credit unions who’ve become interested in offering instant payment (IP) services tied to RTP (Real-Time Payments) and FedNow, one of the biggest questions these institutions – and very possibly yours as well – must address is which IP network to join.
Even if your credit union only originates consumer entries such as transfers and loans, it’s still exposed to the same risks as credit unions and other FIs that offer traditional business origination services such as payroll and B2B payments.
The uptick in account transfer services rang the dinner bell for fraudsters. $1.7 billion in losses were reported in 2022, an increase of 90% over 2021…
For credit unions enduring changing market conditions and growing scrutiny on consumer fees, non-interest income from business members could offer up new earnings. Enter Treasury Management Services (TMS).
We keep hearing that the new Instant Payments networks will be using the ISO 20022 format standard. What exactly is ISO 20022?
Understanding which of your clients would be a good fit for Instant Payments is key to developing your FI’s Instant Payments strategy. Below are three key features that FIs can use to evaluate clients who may benefit from Instant Payments.