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IndustryUpdate

while avoiding redundant regulations. In addition, the
ETA said open banking is seen as a potential avenue for
improving payments.

Iliad Solutions issues SEPA RTP testing standards
Iliad Solutions, a payments testing provider, is offer-
ing support to financial institutions as they prepare to
integrate the upcoming SEPA Instant Credit Transfer
(SCT Inst) rulebook version, set to launch in March 2024.
Iliad's new SCT Inst Testing Solution, an orchestrated
version of its t3 payment testing platform, allows finan-
cial institutions to simulate various instant payment sce-
narios outlined in the new rulebook, ensuring a smooth
transition, comprehensive testing and error identifica-
tion, Iliad stated. The solution provides tools for creat-
ing custom tests, running automation, managing data
centrally and testing downstream applications affected
by real-time payments, enabling institutions to deploy
ANNOUNCEMENTS the new SCT Inst version confidently, Iliad added.

BofA CashPro wins excellence award Jack Henry launches Banno Business
Bank of America achieved top rankings in the annual Jack Henry introduced Banno Business, a solution
Coalition Greenwich Digital Transformation Benchmarking designed to help community and regional financial
Study, highlighting the continued improvement of its institutions offer modern banking experiences to small
CashPro platform. CashPro is used by over 40,000 cor- and midsize businesses. This solution equips these insti-
porate and commercial clients globally for treasury, tutions with advanced digital tools, including cash man-
trade and credit operations, as well as self-service agement, payments, commercial lending and embedded
requests, BofA noted. CashPro ranked No. 1 in the payment capabilities, to better serve SMBs, Jack Henry
Digital Channels category for the second consecutive stated, adding that it allows businesses to streamline
year, excelling in mobile capabilities, online portal, and operations, manage permissions and understand cash
API access and connectivity. It also received top scores flow. Banno Business aims to help FIs compete effec-
in the Payments and Treasury Management categories. tively and foster stronger community relationships,
The bank said its commitment to innovation and client ultimately.
feedback drives its success in treasury, payments and
transaction services. Quavo enhances ACH dispute automation

ETA unveils 2024 public policy priorities Quavo Inc., which aims to improve automated back-
office operations, introduced automated ACH capa-
The Electronic Transactions Association, which advo- bilities to its cloud-based dispute management platform,
cates for privacy laws that protect consumer data while Quavo Fraud & Disputes. The enhancements simplify
enabling fraud prevention, outlined its public policy the ACH dispute process by offering additional claim
priorities for 2024, stating it aims to support innovation reasons in the intake questionnaire and innovative
and ensure consumer protection in the digital payments verbal attestation functionality to comply with WSUD
sphere. The ETA emphasized the need for policymakers regulations, Quavo stated. This reduces friction for
to understand the importance of artificial intelligence account holders and streamlines back-office ACH inves-
adoption in payments. The organization also called for tigations, enabling straight-through processing, Quavo
a balanced regulatory framework for digital assets, pro- added, claiming that the first client to use this enhanced
moting consumer protection and responsible innovation, functionality recovered $7.69 million without human
intervention.

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