The US Faster Payments Council (FPC) has published a new industry resource, a blog on Tokenized Deposits and the Potential for Faster Payments that explores tokenized deposits, which offer the promise of significant risk reduction and automation potential to financial markets. Tokenized deposits have the potential to meaningfully drive adoption of faster payments in the U.S., particularly on high-value business-to-business (B2B) transactions where faster payments have made little progress.

The FPC also recently added over 100 new terms to its interactive Faster Payments Glossary. Common nomenclature is critical for industry understanding, and that shared understanding drives the trust and certainty needed to continue to advance faster payments. The updated glossary has made it even easier for the industry to find the answers to eliminate ambiguity.