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Payrailz Partners With Mastercard For Real-Time Bill Payments

PYMNTS

The Glastonbury, Connecticut startup Payrailz was founded in 2016 by co-founders Fran Duggan, Paul Franko and Rich Pelikan. In June , Payrailz announced that it had established status as a third-party service provider to connect financial institution clients into The Clearing House’s RTP network.

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New York Proposes Major Changes to Cybersecurity Regulation

FICO

The requirements also mandate that organizations include these enhanced standards in their contracts with third-party service providers. Given the unprecedented scope and prescriptive nature of the NYDFS proposal, there will likely be a wave of public comments in advance of the November 12, 2016 comment deadline.

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APIs Raising Tough Questions About FinServ Innovation, Competition And Data Privacy

PYMNTS

Throughout 2016, though, as the technology became more common, industry players began to raise significant questions about the tool around the potential pitfalls and threats involved with the sharing of data necessary for new services to function. “But

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APIs Raising Tough Questions About FinServ Innovation, Competition And Data Privacy

PYMNTS

Throughout 2016, though, as the technology became more common, industry players began to raise significant questions about the tool around the potential pitfalls and threats involved with the sharing of data necessary for new services to function. “But

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OCC Defines Top Threats To Banks This Season

PYMNTS

While commercial loan growth remained strong in 2016, it is still slower than 2015 levels, the report found, increasing by 2.1 percent in the first half of 2016 but then slowing toward the end. Over time, consolidation among service providers has resulted in large numbers of banks reliant on a small number of service providers.”.

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Rethinking Checks’ Role In B2B Payments Friction

PYMNTS

Indeed, research released in 2016 from Bottomline Technologies found 71 percent of businesses surveyed had experienced actual or attempted check fraud. With paper checks, of course, AP and accounts receivable (AR) professionals already have extra work in terms of manual data entry, reconciliation, fraud prevention and more.

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Cross-Border Payments Need More Than Bank-FinTech Collaboration

PYMNTS

Last month, the Financial Stability Board (FSB) calculated a more than 4 percent decline in the number of these relationships between 2016 and 2017. Even more challenges are ahead for the world’s cross-border payments market, as regulatory pressures continue to cause a decline in the number of correspondent banking relationships.