As a sure sign that faster payments initiatives are moving forward in the U.S., The Clearing House (TCH) announced that it has partnered with IBM as its hosting platform. Although TCH is not the only faster payments initiative going on in the U.S., it is getting most of the attention given the involvement of Vocalink, whose experience in the space includes driving the UK and Singapore solutions among others. BankingTech reported:
Following an evaluation process, IBM’s Power8 based system infrastructure – running Linux and AIX operating systems – was selected as the hosting platform.
The new real-time payments platform is being delivered by UK-based Vocalink, and will be rolled out to major US banks in 2017. It will be “the first-of-its-kind payments system in the US”, Vocalink says.
IBM and Vocalink ran performance and resiliency tests of the payments service on a set of enterprise-class Power Systems. The IBM Power8-based infrastructure supported a sustained 2,500 transactions per second. Vocalink says this is a record result for its application, as the company previously offered its real-time banking solutions on x86-based infrastructure.
There are other important players behind TCH initiative including FIS, Jack Henry & Associates and ACI Worldwide, all of whom collectively bring a significant potential user base to the table for faster payments.
Overview by Sarah Grotta, Director, Debit Advisory Service at Mercator Advisory Group
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