In today\u2019s top news in digital-first banking, BNY Mellon debuted a digital billing tool on the RTP network, while large banks are expressing caution over digital currency. Plus, the Bank of Mauritius is reportedly aiming to roll out a central bank digital currency (CBDC).<\/p>\n
BNY Mellon Unveils E-Bill Tool On RTP Network<\/p>\n
BNY Mellon announced that it has become the first bank to harness the RTP network to equip companies with an instant digital bill pay offering for clients. The functionality will allow businesses to provide customers with electronic and real-time bills through the RTP network operated by The Clearing House and obtain instant payments from a client\u2019s bank. \u201cThis transformational solution promises significant change by delivering ubiquitous 24\/7\/365 digital capabilities that will improve their end-to-end payment interactions,\u201d BNY Mellon said in an announcement.<\/p>\n
Big Banks Express Caution Over Crypto At Senate Hearing<\/p>\n
Leaders from the largest U.S. banks testified in front of the U.S. Senate Banking Committee on Wednesday (May 26) to express concerns regarding digital currencies. \u201cBefore we engage with cryptocurrencies, we see it as our responsibility to ensure we have clear governance and controls in place,\u201d Citigroup CEO Jane Fraser said in her written testimony. Wells Fargo CEO and President Charles Scharf testified that the bank would keep a close eye on the development of digital currencies, \u201cwhich have emerged as alternative investments products, though their status as a currency and mechanism of payment remains fluid.\u201d<\/p>\n
Bank Of Mauritius Looking To Launch CBDC Pilot This Year<\/p>\n
The Bank of Mauritius is reportedly seeking to roll out a CBDC by 2021\u2019s close. \u201cCBDCs will be here to complement, and to address gaps that the traditional monetary system is not able to fulfill,\u201d Bank of Mauritius Governor Harvesh Seegolam said at CoinDesk\u2019s Consensus 2021. The news comes as central banks globally are examining the potentiality of digitizing their fiat currencies.<\/p>\n","protected":false},"excerpt":{"rendered":"
In today\u2019s top news in digital-first banking, BNY Mellon debuted a digital billing tool on the RTP network, while large banks are expressing caution over digital currency. Plus, the Bank of Mauritius is reportedly aiming to roll out a central bank digital currency (CBDC). BNY Mellon Unveils E-Bill Tool On RTP Network BNY Mellon announced […]<\/p>\n","protected":false},"author":87,"featured_media":810,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,8],"tags":[],"class_list":["post-809","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english"],"yoast_head":"\n