Check volumes in the US may have peaked, according to revised Federal Reserve figures. The Federal Reserve System has revised the Retail Payments System Research it initially released in November 2001, lowering its estimate of the number and value of checks written in 2000. This suggests check use may have peaked in the mid-1990s. Due to additional analysis of the original payments system research, the Fed has lowered its estimate to 42.5 billion checks valued at $39.3 trillion, down from the previous estimates of 49.6 billion checks valued at $47.7 trillion. ‘The Federal Reserve’s update states for the first time that check use is actually declining. The new, lower figure and the declining trend are big aftershocks to the change in thinking about check use that has occurred since the initial release of the Fed’s research,’ said Michael Herd, spokesman for NACHA – The Electronic Payments Association.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more