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Same-Day ACH Requires AI-Powered Fraud Protection

FICO

Today could be that day. Are banks truly ready for same-day ACH? Between the Same Day ACH initiative launch on September 23, 2016 and December 31, 2016, there were more than 13 million same-day ACH transactions. Remember the ApplePay authentication fiasco ?).

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PYMNTS 11

PYMNTS

3 : The number of times per day Same Day ACH will move money between all bank accounts in the U.S. 77% : The proportion of millennials using mobile banking each month. 85 Million : The number of Walgreens Balance Rewards active members are now able to earn rewards via their Android mobile devices.

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The State Of Faster Payments: ‘Early Innings’

PYMNTS

NACHA and Same Day ACH debuted EXACT DATE to enable same-day settlements through three settlement windows, and are currently exploring options to extend that availability on weekends and holidays. Even if you take faster payments out of the equation, there are a number of rails,” he said.

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Tapping Into The Gig Economy With Faster Payments For Workers

PYMNTS

Three quarters — 75 percent — of college-age consumers prefer to interact with mobile banking apps. To serve millennials and other consumers, Wells Fargo launched a mobile banking app called Greenhouse by Wells Fargo last year. Yet there is some adoption of faster payment technologies among corporates. In the U.S.,

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FBI Sets Sights On Payroll Fraud Scheme

PYMNTS

Mobile malware is on the upswing, said the report, targeting mobile banking. Amid those figures, B2B transactions are up 13 percent and stand at 16 percent of ACH volume. However, with the backdrop of Same Day ACH and with extended windows, increased transaction times and same-day settlement, fraud risks are still there.

Payroll 56
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The Roil Over B2B Payments Rails

PYMNTS

Banks use deposits kept there as a key platform asset upon which other value is created to keep customers sticky and those deposits in their vaults. P2P has made it possible for accountholders to transfer money using only their mobile phone number to do so — and do it safely. ACH rails now settle same-day, three times a day.

B2B 76
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Why Community Banks Can’t Afford To ‘Wait and See’ About Faster Payment Innovations

PYMNTS

With various banks and FinTechs producing innovative solutions — like mobile banking and P2P tools aimed at improving the speed of payments — the pressure is on for community banks to keep up. interactions per month with their banks using digital channels, including through online and mobile banking.