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The $184 billion bank wants FedNow to reach 5% of demanddepositaccounts (DDA) before joining the payment network. DDA’s allow deposited funds to be withdrawn at any time, Jon Briggs, head of […] The post KeyBank to hold off on FedNow until DDA reach hits 5% appeared first on Bank Automation News.
Consumer payment firms will continue to attract investor dollars, he added, as the space is so large, and there is still so much manual work tied to spreadsheets that can be automated. That’s especially true in the consumer lending and demanddepositaccount (DDA) startups. Neobanks: Overcapitalized?
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