SVPCO, the electronic check processing business of The Clearing House Payments Company, has launched the company’s Image Exchange Network following a successful, two-month test period with KeyBank and JPMorgan Chase. Susan Long, senior vice president of SVPCO, said: ‘Based on the success of the KeyBank-JPMorgan Chase exchange, we expect a number of other SVPCO owner banks and aggregators to start exchanges shortly.’ SVPCO’s Image Exchange Network, the first large-scale image exchange platform, enables financial institutions of all sizes in all locations to clear and settle check images directly or through other parties. The network allows institutions to create digitised images of paper checks to eliminate the costly expense of physically transporting the check, thus streamlining and expediting the entire clearing process. Electronic check image exchange is expected to save US banks $2.1bn a year in operational efficiencies and lower costs, according to an SVPCO study.
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