NACHA – the US electronic payments association – has been asked by the AFP to delay its rule change permitting corporate check conversion to automated clearing house (ACH) debits. The AFP said that most of its members oppose having their checks converted to ACH debits. As a result, they need time to learn how to opt out of conversion and place ACH debit blocks or filters on their disbursement accounts. In a January survey, 79 percent of corporate treasury and finance professionals stated that their companies would not permit its checks to be converted to ACH debits. The AFP asserted that conversion of corporate checks to ACH debits would disrupt corporate cash management practices and controls, and increase exposure to fraud. ‘Payers – not payees – should decide how payments should be made and authorize conversion to ACH debits if they choose,’ it stated.
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