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Slide 2 of 9
The Clearing House and FIS
This proposal is one of three that was judged either “effective” or “very effective” for all 36 criteria designated by the task force. It drew praise for being based on internationally tested solutions – the proposal uses technology from VocaLink, which played a key role in the construction of the U.K.’s faster payment system.

The system would be available 24 hours a day and 365 days per year, and financial institutions would be able to connect to it either directly or through a core processing firm like FIS or Jack Henry. The system, which is expected to be launched soon, does not yet include cross-border capabilities.