At this year’s Swift Business Forum in New York, executives said banks can build "more intelligent routing" to speed up payments and reduce the cost of processing and delivery.
The quest for fast payments is advancing on the consumer side, but most banks are said to be undecided about a host of issues tied to speeding up transactions between businesses.
Fears about regulators coming down on digital currency trading caused an epic crash in the market this week. But reining in this evolving asset class won't be easy.
Providing the default card in digital subscription services is one way banks can win back bill-pay business, save customers time and help them manage their data.
This week's first transaction over The Clearing House's Real-Time Payments system may be a huge step for speeding up payments in the U.S., but it also highlights the long road still ahead.
As the banking industry moves closer to adopting a faster payments system, bank executives have begun to think through the impact it will have on clients and banks themselves.
For the last two years, the central bank has allowed the private sector to drive a process aimed at modernizing the nation's payments system. Now the Fed will have to determine what its own role will be.
