January 2019 – North Brunswick, New Jersey.
Axletree Solutions is pleased to announce the launch of the U.S. Faster Payments Council. As a founding member, Axletree Solutions will work with other members to transform the payments landscape in the United States.
The Journey to the Formation of the U.S. Faster Payments Council
In 2015, the Federal Reserve System published its strategies for improvement of the U.S. payment railroads and infrastructure, in pursuit of what it described as a better payment system, that is safe, efficient and broadly accessible. From this objective, the seeds for the U.S. Faster Payments Council were sown, reflecting and advancing the payments landscape in the United States as regulators, financial authorities and industry leaders worked to develop and promote new and improved methods for processing payments.
When the Federal Reserve System’s Faster Payments Task Force was formed in April of the same year, it marked a historic effort to transform the country’s payments ecosystem, with a final strategic action plan advocating a “vision for secure, ubiquitous, faster payments by 2020.”
With a target deadline set, the Governance Framework Formation Team (GFFT) established the U.S. Faster Payments Council in the spring of 2018. As a new membership organization established to enable faster, accessible, and secure payments for all Americans, the Council will work with GFFT as it strives to develop and implement a faster payments governance framework, with input from all stakeholders, and facilitate faster payments across the United States.
The U.S. Faster Payments Council’s Mission
The U.S. Faster Payments Council will make faster payments commonplace by helping businesses and consumers transact with each other seamlessly and transparently – anywhere, anytime.
Axletree and other members of the U.S. Faster Payments Council will lead the U.S. payments landscape forward with the shared goals of inclusiveness, fairness, flexibility, responsiveness, and transparency.
Become a member today and join us in helping shape the future of payments in the United States. https://fasterpaymentscouncil.org/Members
The Role of Axletree Solutions
Axletree Solutions is the leading provider of SaaS bank connectivity, communication, integration, and treasury automation solutions to banks and Fortune 500 corporations worldwide. In addition to being the first certified SWIFT Service Bureau in the Americas, Axletree provides comprehensive automated financial technology solutions to corporate treasurers as well as to the banking community.
Operating as a market-leader in the financial technology industry, Axletree Solutions is strategically positioned to help advance the U.S. Faster Payments Council’s mission and vision, and stands ready to work with member institutions to lay tech-enabled, comprehensive payments railroads across the United States.
“We are honored to be a founding member of the U.S. Faster Payments Council, bringing together a community of diverse stakeholders through inclusiveness, collaboration, dialogue, and education as we move forward towards achieving ubiquity and adoption of Faster Payments by 2020,” Beatriz Saldivar, Director – Treasury & Payments at Axletree.
For more information on what the U.S Faster Payments Council is working on and where it is headed, you can visit https://fasterpaymentscouncil.org/Members or get in touch with us by filling out the contact form below.