The Clearing House Lands First Small Bank

The Clearing House is a real time payments network owned by a consortium of some of the biggest banks; there is a debate going on as to whether or not the Fed should establish their own payments network; small banks feel The Clearing House is a monopoly by the big banks that doesn’t suit their needs; the $1.6bn asset Avidia Bank is the first small bank to join The Clearing House’s network as they look to offer commercial and fintech clients better payments options; Avidia plans to have a pilot towards the end of 2019 and be live in early 2020; The Clearing House says they have more small banks in their pipeline but they cannot release further details at this time. Source.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments