The Clearing House

This month at The Clearing House conference, I joined TCH CEO David Watson and BNY Mellon’s Jennifer Barker to discuss how Early Warning® is leveraging our robust infrastructure and collaboration across the financial ecosystem to transform payments and online checkout for Americans. Our progress is powered by partnerships with more than 2,200+ banks and credit unions, 95% of which are community financial institutions that are vital to local economies. Together, we’ve built three trusted national brands—Early Warning®, Zelle® and Paze℠ —and have a three-decade successful track record of using data to eliminate criminals from the financial system. Our bank partners deserve a great deal of credit for combating fraud and scams and further collaboration is key to combatting these issues, which transcend industries and payment methods. Through efforts like the The Aspen Institute’s National Task Force for Fraud & Scam Prevention, we’re working to develop a national strategy with law enforcement, government, and industry to stay ahead of increasingly sophisticated criminals and threats. I’m proud to see Early Warning® leading this critical conversation in the industry.

Stay informed with this week’s must-read #payments updates in our latest #WeekendReads ⬇️ 1. RTP Network: Data Shows America Loves Instant payments https://lnkd.in/ewESaDu8 / Treasury Today Group 2. Jim Colassano of The Clearing House on the RTP Network, Instant Payments Use Cases, and Thanksgiving Favorites https://lnkd.in/eNzTPe2Z / Off the Rails Podcast by U.S. Faster Payments Council 3. Is the Future of Payments Public or Private? The Fed’s Waller Weighs In https://lnkd.in/eg8ktEu8 / The Financial Brand 4. Payments, Closely Watched By Venture Capitalists, Are Set For Major Changes https://lnkd.in/gkRRHDC7 / citybiz 5. From Approval to Bank Account: Why Instant Disbursements Are Critical for Lenders https://lnkd.in/eGrPneDH / PYMNTS

The holiday season is almost here—what does that mean for the #RTPRevolution? With the ability to send and receive payments around the clock via the RTP® network, small businesses and corporates are receiving real-time benefits. Read more from PaymentsJournal: https://lnkd.in/eWAZaPCD

From smart locks to virtual tours, the #RealEstate industry has embraced innovation – but many real estate offices are still missing key opportunities to evolve and unlock value by adopting #InstantPayments. Instant payments can transform and expedite the distribution of funds during a real estate transaction. Read TCH VP of RTP® Product Management Cheryl Gurz’s insight on how title companies can join the instant payments revolution: https://lnkd.in/g7Tmn9H7

ADP is embracing #RealTimePayments capabilities in payroll. According to ADP Strategy Executive, Global Payments & Compliance Matthew Hardy, while sending instant payments over the RTP® network may have started for emergency payroll-type situations, ADP is exploring additional use cases and certain verticals where instant payroll is a value proposition. Read more: https://ow.ly/l5jz50TZZA7

Wondering how #InstantPayments benefit #SmallBusinesses? PaymentsJournal breaks down Javelin Strategy & Research's latest report highlighting the value of instant payments and messaging capabilities. Ian Benton, a Senior Analyst in Digital Banking at Javelin and lead author of the report shares, “Imagine you can just invoice a customer, or send an electronic invoice and they can pay you in real time,” Benton said. “That’s a really valuable use case for a general audience using outgoing payments, if you deal with suppliers. Being able to make a last-minute payment three days quicker than your competitors, or being able to do it on the weekend, or reimbursing your contractors or your employees. There are a lot of advantages for outgoing payments, but the number one low-hanging fruit is letting people collect payments more quickly.” https://lnkd.in/dXKy63r7

Don’t miss this week’s #WeekendReads for the latest news in #payments ⬇️ 1. The Clearing House: RTP network set transactions record last month https://lnkd.in/evZJdp8D / BankBeat 2. Fed's Waller Says Private Sector Should Lead on Payment System Innovation https://lnkd.in/eNwknGGp / Reuters 3. Very Real and Very Here: The Proliferating Use Cases for Instant Payments https://lnkd.in/gBhbSUyS / PaymentsJournal 4. One-Third of SMBs Still Don’t Get a Choice in How They’re Paid https://lnkd.in/evsWhEj8 / PYMNTS 5. Instant Payments on the RTP Network Surge Ahead of the Holidays https://lnkd.in/eWAZaPCD / PaymentsJournal

This week, The Clearing House completed the 2024 Annual Conference. Thank you to all the speakers, sponsors, and attendees who helped make this year’s event a success. We appreciate the thoughtful and in-depth perspectives that were shared on the changing banking and payments landscapes. Check out our highlights from the sessions below. See you in 2025!   #TAC2024 #theannualconference #payments #RTP #InstantPayments #ACH

Insightful few days at The Clearing House Annual Conference in NYC, where DXC Technology showcased its leadership in the Financial Services industry, alongside 600+ industry leaders. I had the privilege of moderating a panel discussion on how data is revolutionizing banking and payments with Keith Melton, Mark Smith, Lavonne Heaviland and Jarrett Bruhn. At DXC Technology, we're committed to driving innovation and helping navigate ongoing changes to regulations for our Financial Services clients. #FinancialServices #Payments

Day 2 highlights from The Clearing House Annual Conference 2024! Today’s general sessions included an insightful analysis of the 2024 Election results from the hosts of “The Circus: The Greatest Political Show on Earth,” while CEOs from Bank of America, KeyBank, Truist, and U.S. Bank shared perspectives on the economy, real-time payments, and the business of banking during a separate keynote session. The CEOs agreed that payments is not a separate business unit at their organizations: Payments is the business the banks are in and payments are the grease and fuel that move the economy, drive deposits, and ultimately sustain client relationships. With customer interactions now 98% digital, the CEOs emphasized the importance of an omnichannel approach that combines high-tech with high-touch service. Cameron Fowler, CEO of Early Warning®, and David Watson, CEO of The Clearing House, highlighted innovation in instant payments and the importance of collaboration to tackle fraud. “Innovation is vital to payments networks,” said Watson. “TCH plays an important role by collaborating with bank and technology companies to move the industry forward.” Other Day 2 sessions focused on consumer financial regulation, the Supreme Court’s impact on banking, #AI regulation, and instant cross-border payments, where panelists from Swift, Citi, Mastercard, and EBA CLEARING agreed that for cross-border payments, transparency, predictability and traceability are what customers value most - followed by cost and speed. #TCHConference2024 #TCHAnnualConference #PaymentsInnovation #Banking