Payment processing

The Cincinnati-based bank aimed for consistency in the third quarter as it built on strategic initiatives. Executives expect "record" net interest income next year.

The BNPL industry is growing at a fast clip. Australia-based Zip's new CEO for U.S. operations is looking to carve out a place in what is becoming a crowded industry with expanded merchant partnerships and a Pay-in-8 product.

The bank's acquisition of embedded finance firm Rize Money and collaboration with open banking firm Trustly will enable the bank to grow real-time processing, account-to-account transfers and address emerging compliance challenges.

Since launching in summer 2023, the government-backed instant settlement network has attracted hundreds of financial institutions, but there is still room for growth.

The trucking and transportation industry is highly fragmented with hundreds of thousands of participants and different processing systems. The $1 trillion in revenue has drawn processors and card companies armed with new tech.

Federal Reserve Board Gov. Christopher Waller said interlinking instant payments systems could come with a steep price tag for banks and heightened risks for customers.

Sen. Richard Blumethal, D-Conn., chair of the Senate Permanent Subcommittee on Investigation, asked bankers whether the Electronic Funds Transfer Act should be updated to include scams that involve authorized fund transfers.

The government-backed instant processing network has been live only since the summer of 2023, but it's already indirectly boosting usage at an unrelated bank-led rail from The Clearing House.

The organization says 'request for pay' has gotten early traction with billing and account-to account transfers. Now it's targeting consumer-to-government and digital wallet disbursements.