Volante Blog

A Year on from the First Us Real-Time Payment. Where Are We Now – and Are You Ready to Take the Plunge?

10 December 2018
by Vinay Prabhakar, Vice President, Product Marketing

A Year on from the First Us Real-Time Payment. Where Are We Now – and Are You Ready to Take the Plunge?

Within the last year we’ve witnessed two major milestones related to faster payments in the U.S. In September 2017, the Zelle Network® (Zelle) was released by a consortium of banks. This initiative was quickly followed by The Clearing House as it launched its RTP network, a new clearing and interbank settlement network, with the first-ever RTP payment exchanged between BNY Mellon and US Bank on November 14, 2017.

One could argue that the U.S. faster payments revolution is in full swing. However, to reach the Federal Reserve’s 2020 target for faster payments to be available to every business and consumer, many more banks will need to participate. We’ve talked to many banking, business and technology leaders contemplating the move to faster payments and took a pulse as to their findings – one year on from the original launch of Zelle and TCH RTP.

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Vinay Prabhakar
Vice President, Product Marketing

Vinay Prabhakar

Vinay Prabhakar is Vice President, Product Marketing for Volante Technologies. He is a subject matter expert in payments and transaction banking, with over two decades of experience helping leading fintechs and banks grow and thrive.

Vinay Prabhakar

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