Electronic Checks

Digital-banking platform developer Urban FT Inc. disclosed early Wednesday that it has made a “compelling offer” for financially troubled Digiliti Money Group Inc., a provider of mobile remote deposit capture services for banks. News of the all-cash offer, whose size wasn’t disclosed, sent Digiliti’s beaten-down stock soaring on the Nasdaq …

The news just keeps getting worse for Digiliti Money Group Inc., a small fintech company that provides remote deposit capture software and services for banks and credit unions. On Monday, Digiliti said it is considering “strategic options” that include a sale of the company or a Chapter 11 bankruptcy filing. …

Now that the Federal Reserve-sponsored Faster Payments Task Force has issued its final report calling for speedier payments everywhere in the United States by 2020, the really hard work can now begin, say some observers. Payments cleared and settled in near real time has long been a goal of many …

USAA, a pioneer in developing remote deposit capture, said it is “inviting” banks and credit unions to license the patent rights to its RDC technology, for which the financial-services giant holds approximately 50 patents. Launched in 2006 as a way to enable USAA’s customers, many of whom are in the …

For all the talk by companies about how adopting electronic-payment technologies will streamline their accounts-payable processes, paper checks remain a staple of the business-to-business world. Businesses cut 13.1 billion checks a year, according to check printer Deluxe Corp. To join the advantages of electronic processing with those of paper checks, …

Firms and financial institutions that have been using the automated clearing house network’s new same-day settlement system are generally upbeat about it, but the new regime is being implemented in phases, and the next phase, due in September, brings with it some misgivings. That’s when ACH debits will start to …

Nearly three-fourths of corporate treasury and finance executives say their organizations were hit by actual or attempted payment fraud in 2016, with check, automated clearing house debit, and email fraud attempts all rising, according to the Association for Financial Professionals’ ninth annual payments fraud survey. Some 74% of respondents said …

The United States remains one of the world’s last bastions of the paper check, a situation a startup called Checkbook Inc. sees as a massive opportunity. The Sunnyvale, Calif.-based company has been working for the last two years on a system that it says allows businesses and individuals to use …

• Noting that U.S. businesses send consumers write 3 billion paper checks annually, Wells Fargo & Co. said it will allow companies to send consumer payments electronically through a new service called Payment Manager B2P, expected to roll out early next year. The service will work with the clearXchange peer-to-peer …

The coming of same-day settlement of automated clearing house transactions to the U.S. next September has many bank and credit-union executives excited about the prospect of faster payments. But fears about more fraud are rising, too. A recent survey of approximately 60 financial institutions by New York City-based fraud-control firm …