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Fed Tackles Fraud On Legacy Rails As New Infrastructure Gains Traction

PYMNTS

The Clearing House’s RTP finds expansion within the community bank arena, while abroad, the Bank of Thailand is planning its own infrastructure development to accelerate B2B payments. RTP Gains Community Bank Traction. In the U.S., And when it comes to legacy rails, the U.S. ” HSBC Debuts Real-Time Direct Debit.

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Funding Round Could Give AvidXchange $2B Valuation

PYMNTS

Investment bank Financial Technology Partners is advising AvidXchange on this fundraising round, according to sources. percent through 2028, according to Boston Consulting Group. Nashville community bank Studio Bank was the first FI to adopt the AvidPay solution. This latest fundraising could top $300 million.

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Santander Adds Three Lending Executives

PYMNTS

Santander Bank has announced three high-level appointments, two overseeing lending operations and another overseeing marketing, according to a press release. in Information Technology Management from the University of Virginia, according to Santander. Patrick Smith was named head of Small Business Banking. Smith holds a B.S.

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Strategies for fighting remote authentication fraud

Independent Banker

Experts say community banks can use education, biometrics and solid cybersecurity practices to fight this growing area of crime. Say a scammer calls a community bank customer and gains their trust by using information obtained from a major data breach. By Elizabeth Judd. Examples of remote authentication fraud. New account fraud.

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Retail Pulse: 7-Eleven Tests Cashierless Tech; Staples Debuts Connect Store Concept

PYMNTS

7-Eleven President and CEO Joe DePinto said in an announcement , “Retail technology is evolving at a rapid pace, and customer expectations are driving the evolution. Introducing new store technology to 7-Eleven employees first has proven to be a very productive way to test and learn before launching to a wider audience.”.

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Now is the time to prepare for the FedNow launch

Independent Banker

The FedNow Service is launching in early 2023, giving community banks about a year to plan. Here’s how community bankers, payments experts and fintech vendors suggest using the time to prepare. With less than a year until the scheduled launch of the FedNow Service, community banks are still awaiting updates on specifics.

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Fed Task Force Releases Payment Lifecycles And Security Profiles

PYMNTS

Established in June 2015 , the Secure Payments Task Force has engaged more than 200 financial institutions, consumer groups, payment service providers, financial technology firms, merchants, government agencies and others interested in payment security improvement efforts.

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