The Banking Industry Architecture Network has announced six new members including ACI Worldwide, Atos, EY and Zafin. Its global network now numbers 58 banks, service providers, software vendors and academic partners.
When the US Federal Reserve Banks asked for comments on improving the US payments system, the tech industry and merchants said “let’s go” while the incumbents said “whoa, not so fast” …
Large retail banks sometimes find it hard to change because they have assimilated many smaller banks through acquisition, each of which is running on a payments engine that has different features and may be very old. That can make it difficult to offer new services, but there is a solution according to Paul Thomalla, head of EMEA at US-based payments and technology firm ACI Worldwide.
