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Navigating AML obligations in the age of virtual IBANs

The Payments Association

Regulatory reviews from the Bank of Italy, UIF, and the European Banking Authority (EBA) have identified key shortcomings in the management of vIBANs. Regulatory oversight intensifies Authorities such as the EBA, UIF, and national regulators are raising concerns about vIBAN compliance.

IBAN 88
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Mastering Your Business with Accounts Payable Reports

Nanonets

Tracking metrics and key performance indicators (KPIs) along the way allows businesses to measure the effectiveness of their accounts payable function and make data-driven decisions. These reports provide invaluable insights into the accounts payable process, allowing businesses to make informed decisions and drive growth.

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How Payment Facilitation Works: An Overview for SaaS Providers

Exact Payments

Differentiator 1: Payment Aggregation The most crucial distinguishing factor of PayFacs is that they operate as merchants themselves and register for processing accounts directly with an acquiring bank. They are then able to onboard and aggregate sub-merchant accounts under their master account.

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Stablecoin Outlook Anything But Stable As Regulation, Legislation Loom

PYMNTS

In terms of mechanics, these companies would have to maintain master accounts at the Federal Reserve and must maintain segregated accounts with the Fed, with reserves fully collateralized and convertible into dollars on demand.

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The Fed’s crypto pivot: Unlocking banking access and its impact on payments

The Payments Association

One notable change is the removal of “reputational risk” as a consideration when evaluating applications for master accounts. Federal Reserve Chair Powell confirmed that regional reserve banks will no longer take reputational factors into account when deciding whether to grant access.

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President Trump issues Executive Order on digital assets

The Payments Association

’ against digital asset companies (see below, Other Key Developments in Crypto ) and the FRBs refusal to permit Custodia Bank to open a master account. She is also the author of the industry-friendly Token Safe Harbor Proposal (for more information, see this Latham blog post ). Notably, US banking regulators (e.g.,