Over 200 years of collective Payments Experience
Over 45 years of building and growing fintechs
Over 45 years of Banking and Risk Management
Over 65 years of Regulatory Compliance and Regulation
2023 - Faster Payments Council Advisory Board Member
2023 - Faster Payments Council Opertional Board Member
Faster Payments Council (FPC) is an industry-led membership organization whose vision is a world-class payment system where every person or organization can safely and securely pay anyone, anywhere, at any time and with near-immediate funds availability. By design, the FPC encourages a diverse range of perspectives and is open to all stakeholders in the U.S. payment system. Guided by principles of fairness, inclusiveness, flexibility and transparency, the FPC uses collaborative, problem-solving approaches to resolve the issues that are inhibiting broad faster payments adoption in this country.
Deep Knowledge Use Cases
Post adjudicated claims continue to be a fragmented process throughout much of the industry. Accounting for 80% of human errors and other process risks are Paper Checks, Returned Mail, ACH Returns, directing Payments instructions to multiple third party providers just to pay vendors and managing receivables continue to plague Insurance organizations.
Property owners & investors have struggled for years to solve the simple act of “Paying Rent”. Delayed payments, friction filled banking processes and frameworks like ACH and Paper Checks have only complicated the receiving end of the equation.
Nothing more satisfying than winning money and being able to turn around and spend that “found money” immediately. Unfortunately due to the heavily regulated banking industry, getting access to your funds, especially from an online platform could take days!
Restaurants / POS
Restaurants were hit the hardest during the pandemic. An industry that already operates on laser thin margins, pays millions of dollars monthly just to accept credit and debit card payments from their customers. This use case is extremely exciting, since it literary means, adding thousands of dollars to your restaurants’ bottom-line.