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Julian_Williams

ABA Payments "mass enabling Q2"

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3 hours ago, Julian_Williams said:

 

 XCURRENT or is this SWIFT GPI?

https://twitter.com/yesillhavesome/status/1139797424547880960?s=21

Global Real-Time Cross-Border Remittance (Payment & Simultaneous Settlement) "We clear and settle around $2 - $5 TRILLION per day" "Q2/Q3-They are doing mass enabling. They will light up all their cores simultaneously" - Jim Aramanda

 

 

 

View the entire interview with Jim Aramanda (TCH) in the right context and not the edited Twitter version

Qoute: Fintechs are the real threat to the banks and not the mutual competition

ABA- Jim Aramanda

Why do they see the FED's attempts to build its own RTGS system as a threat?  Why is Ryan Zagone still at the table with the FED when TCH / RTP has implemented Ripple?

Banking Perspectives  page 12/13

City bank as an example gets billions of profits from cross border payments by nostro accountant finance for smaller banks. City bank and other large banks involved in TCH are not going to hand over those profits.

Faster Payments in the US, yes

Ripple, no thanks

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If you listen to the video he says, "FIS will be able to light up all their cores simultaneously". That is just one company, and he also said that "they run multiple systems" without saying anything about Ripple. Although he does elude to "the fintechs" attacking the vacume created by the fact that the payment rails are 40 years old.

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1 hour ago, KarmaCoverage said:

If you listen to the video he says, "FIS will be able to light up all their cores simultaneously". That is just one company, and he also said that "they run multiple systems" without saying anything about Ripple. Although he does elude to "the fintechs" attacking the vacume created by the fact that the payment rails are 40 years old.

Excuse my being a dunce, XCurrent?

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FIS is supposedly being leveraged as the backbone of Visa's new B2B product

https://www.forbes.com/sites/jeffkauflin/2019/06/11/visa-targets-swift-with-new-blockchain-product-for-global-money-transfers/#1e47a9433daa

It’s partnering with FIS, a Jacksonville-based payment processor and financial technology provider to more than 20,000 financial institutions.

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2 minutes ago, aye-epp said:

FIS is supposedly being leveraged as the backbone of Visa's new B2B product

https://www.forbes.com/sites/jeffkauflin/2019/06/11/visa-targets-swift-with-new-blockchain-product-for-global-money-transfers/#1e47a9433daa

It’s partnering with FIS, a Jacksonville-based payment processor and financial technology provider to more than 20,000 financial institutions.

Maybe I will poke around and see if I can find a contact with FIS, I'm in Jax and I had contact with FIS regarding my mortgage analytics patent, but that was years ago.

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This will likely give tier 3 & tier 4 providers the option of using xcurrent moving forward. But they will be very small payments/volume until the lower tiers ramp on later on.

Promising nonetheless

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They have discussed DLT during their last conference:

Distributed Ledger Technology: Application and Uses of in Financial Institutions
Overview of what operational efficiencies can we expect to see realized in the not so distant future specifically in Banks and Insurance Companies. What new risks do we anticipated being created as a result of the growing use of DLT?
Speaker: Kevin L. Richards, Managing Director, Global Head of Cyber Risk Consulting, Marsh

(source: https://www.aba.com/Training/Conferences/Pages/irm-program.aspx)

They also have a paper about the Internet of Things which can be found over here
https://www.aba.com/Tools/Function/Technology/Documents/Understanding-internet-of-things.pdf?utm_source=twitter&utm_medium=org&utm_campaign=fintech&utm_content=thursday_6.13.19

but it is very general and does not really explain what they are planning to do

 

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