The UK is beginning the phased roll out an image-based cheque clearing system that will slash processing times from six 'weekdays' to one day and pave the way for the introduction of interbank mobile cheque deposits.
The UK's new payment system operator has appointed former Nationwide Building Society exec Paul Horlock as chief executive, overseeing the consolidation of Bacs, the Cheque and Credit Clearing Company and the Faster Payments Scheme.
Urban FT says that struggling remote deposit capture vendor Digiliti Money has turned down a takeover offer.
The UK is to roll out an image-based cheque clearing system in October that will slash processing times from six 'weekdays' to one day and pave the way for the introduction of interbank mobile cheque deposits.
IBM has won a tender to modernise the Federal Reserve's ACH platform, which processes up to 100 million transactions per day and half of all US payments.
Barclays is to roll out its mobile cheque imaging service to Android phones and iPad users, bringing the service within reach of one million more customers.
Canadian financial technology firm D+H is to buy transaction banking vendor Fundtech for $1.25 billion in cash, subject to regulatory approvals.