Banks Need To Boost Compliance Tech Amid Faster Payments

Law360, New York (August 21, 2017, 7:33 PM EDT) -- As the Federal Reserve and private actors seek to speed up the U.S. payments system, banks are going to have to upgrade their technology to make sure their fraud-prevention and suspicious-transaction tools keep pace and continue to ensure compliance with regulations, experts say.

It is unlikely that the faster payments system envisioned by the Fed, which plays a central role in the U.S. system for transferring money, will require the adoption of any new rules. However, the banks and payment networks that will operate on that...
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