How ISO 20022 Will Impact the Payments Industry
The Federal Reserve has transitioned its Fedwire Funds Service to the ISO 20022 messaging standard, making the new protocol mandatory for all U.S. banks. ISO 20022 provides a single, standardized messaging framework designed to improve interoperability among financial institutions, market infrastructures, and end users. The new standard is expected to enhance payment transaction efficiency, strengthen […]
JPMorgan Chase to Charge Fintechs for Customer Data Access
Fintechs like PayPal and Block may soon have to pay for access to banking customers’ data if JPMorgan Chase proceeds with plans to impose access fees. Financial technology firms have been central in the digital banking zeitgeist, with many banks and credit unions partnering with third parties to offer services ranging from credit score monitoring […]
Embedded Finance: Bringing Payments Under a Single Umbrella
For too long, payments have been seen as a necessary evil—plagued by compliance headaches and operational friction, with little opportunity for revenue generation. Embedded finance is flipping that notion on its head, transforming payments into a strategic growth lever. Where payment solutions were once siloed, modern platforms now reconcile across product lines, powering the next […]