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AFP Payments: When Will Real-Time Become Reality?

  • By Andrew Deichler
  • Published: 5/19/2016
AFP Payments: When Will Real-Time Become Reality? Andrew Deichler 2016-05-19

In the latest edition of AFP Payments, we review a panel session at last week’s SWIFT Standards Forum in New York, in which experts weighed in on when exactly real-time payment systems will finally make their debut in the United States and Canada. Representatives from The Clearing House, the Federal Reserve and the Canadian Payments Association all provided updates on their respective real-time initiatives.

Also at the forum, treasury professionals discussed the success they have had using the ISO 20022 standard internationally. They believe that eventually, corporate treasurers as a whole will see the benefits of the standard and get on board with it. Last but not least, we review the latest developments in the ongoing SWIFT hacking scandal. The latest twist hits close to home for corporate treasurers, as a SWIFT Service Bureau was the method of choice in a bank hack attempt worth more than $1.3 million.

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AFP Payments is a monthly newsletter delivering best practice information, news and analysis of global payments challenges, regulations and emerging technologies. As the world migrates from paper-based to electronic payment methods, financial professionals and others need to stay atop developments ranging from new card-based payment options, to changes in banking practices, to regional payments concerns around the world.

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