Banks Turn $5.3 Million Wires Into Strategic Assets

Wire payments are starting to look less like back-office plumbing and more like a competitive tool for banks. That shift anchors “ Rewiring Wires: Modernizing CHIPS and Fedwire for a New Era of Demand ,” a May report from PYMNTS Intelligence and Volante Technologies . The report finds that financial institutions are upgrading the systems that move large, time-sensitive payments as clients seek faster processing, better information and more dependable service.