The news: JPMorgan launched request for pay, a service that lets corporate clients avoid card network payment processing and other third-party services by sending payment requests directly to the roughly 57 million retail customers who use the bank’s app or website, per Reuters. Why it’s worth watching: Demand for faster payments became more pronounced during the pandemic—businesses and consumers needed to access their funds faster, and paper checks, cash, and other traditional payments weren’t cutting it. That put a greater emphasis on faster payments and real-time payment (RTP) systems, leading to innovations that improved the end-to-end transaction process: In March 2021, Automated Clearing House (ACH) expanded same-day settlement so financial…
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JPMorgan Explores Business Opportunities in Real-Time Payments
JPMorgan’s new request for pay service lets corporate clients send payment requests directly to the bank’s retail customers. JPMorgan launched request for pay, a service that lets corporate clients avoid card network payment processing and other third-party services by sending payment requests directly to the roughly 57 million retail customers who use the bank’s app or website, per Reuters. B2B payment transaction value will reach $27.54 this year. Insider Intelligence Why it’s worth watching: Demand for faster payments became more pronounced during the pandemic—businesses and consumers needed to access their funds faster, and paper checks, cash, and other traditional payments weren’t cutting it. That put a greater emphasis on faster payments…
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New Business Opportunities for Boutique Asset Managers
Asset management merger and acquisition activity in the U.S. was valued at some $28 billion in 2020, the highest deal value in the sector since $29 billion in 2000, according to data from Dealogic. But if the late burst of activity in 2020 was any indication, it will be difficult for some industry players to resist acting quickly for fear of being left behind. Analysts and executives expect the wave of consolidation to carry into 2022 as sheer scale has become a necessity for fee-pressured investment managers looking for an edge. All indications suggest the asset manager arms race has only just begun. Unlike the activity and attention being drawn to the larger…
