News Updates

Preparing for Faster Payments

You likely haven’t had a customer come into your bank asking if they can make payments through the FedNow Service, but demand for faster payments exists and being live on FedNow Service is an opportunity to have those funds held at your bank. By knowing the answers to the following questions, you can be prepared ...

ISO 20022 is Coming to Wires

The Fedwire Funds Service is moving to ISO 20022, a new messaging standard being adopted across the industry, on March 10, 2025. This move will create long-term benefits for our increasingly interconnected global economy and is already in use for instant payments via the FedNow Service. Even though 2025 seems a long way off, it’s ...

Privacy Policy Considerations for Your Bank Card Program

The May/June 2023 issue of the ABA Banking Journal included a Regulatory and Compliance Q&A related to co-branding relationships. The example used in the scenario closely aligns with the BBOK bank card program with your bank. The content explains the recommendation to disclose joint marketing in the bank’s privacy policy, even if you are not ...

Build a Plan for Instant Payments

Instant payments are the future in financial services. It is the first new payment rail to be put into operation in over 50 years. Settling immediately, this payment type provides customers with the ability to pay anyone, anywhere, anytime so that funds can move as fast as people. Some banks have implemented or are planning ...

Are Your Business Customers Ready for the Holiday Season?

Do the hot summer days have you dreaming of fall leaves and pumpkin spice? If so, you’re not alone. Many small businesses have started looking ahead to the upcoming holiday season. One important aspect of being ready for one of the busiest times of the year is the capability to accept payments. In Mercator Advisory ...