US financial institutions originated more than 2 billion automated clearing house (ACH) payments in the third quarter of 2004, the first time that milestone has been achieved, according to statistics from NACHA – The Electronic Payments Association. Financial institutions’ ACH volume for the quarter was 2.086 billion, up 24.6 per cent over a year ago. Including Federal government payments, ACH volume was over 2.3 billion for the third quarter. Leading the way is ARC – Accounts Receivable check conversion. In the third quarter there were more than 266 million ARC payments, an increase of over 500 per cent over a year ago. ARC accounted for 54 per cent of the growth in financial institutions’ ACH payments. The five ACH e-check applications combined for 537.3 million payments in the 3rd quarter, more than double the number over a year ago. The figures cited do not include estimates of on-us ACH payments, in which the originating and receiving financial institutions are the same institution. NACHA estimates that, including an allowance for on-us payments, ARC is on track to reach 1.25 billion transactions in 2004.
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