More NewsCHIPS Offers Internet-Based Features and Reporting

CHIPS Offers Internet-Based Features and Reporting

The US Clearing House Interbank Payments System (CHIPS) has implemented several Internet-based enhancements to provide improved access to the system and Internet-based management reporting. ‘We are making CHIPS, and all our payment systems, Internet-enabled,’ said Al Wood, Clearing House Senior Vice President of Technology and Operations. ‘The Internet enhancements allow financial institutions to inexpensively connect to our systems anywhere, any time, while preserving CHIPS’ requirements for security and reliability.’ The first web-based application is Supplemental Funding, which allows participants to fund and prioritize selected payments for immediate clearing. CHIPS has also implemented online management reports, which up until now have been available only on custom-programmed terminal interfaces. Financial institutions can now use the Web to log on to see their position relative to their trading partners, inquire on the status of CHIPS payments and to manage other aspects of their interaction with the CHIPS system, according to The Clearing House.

Related Articles

Infosys Finacle to power Santander UK’s international cash management system

More News Infosys Finacle to power Santander UK’s international cash management system

3w The Global Treasurer
Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

4m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

5m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

5m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

5m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

5m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

5m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

6m Tasja Botha