ACHA, the electronic payment association, announced news on Thursday (Jan. 11) that same-day ACH debit and credit transactions hit 15.2 million in December, marking a 51 percent month-over-month increase.
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From market pressures in the U.S. that have encouraged data sharing between banks and FinTechs to regulations in the U.K. and EU like Open Banking and PSD2 that require such cooperation, APIs are emerging as an essential piece of the equation for payments innovation.
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According to a NACHA survey, 82 percent of financial institutions surveyed anticipate that Same Day ACH debit volume will grow at a rapid or steady rate. A similar number of institutions — 78 percent — expect credit volume will grow at a steady rate over the next six to nine months.
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The past year in cybersecurity has been one of combating ransomware extortion attacks, bracing systems against DDoS attacks and securing internet of things (IoT) systems. Looking to next year, cybersecurity experts at McAfee Labs laid out their predictions for the industry’s top concerns in 2018.
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