In today’s top news in digital-first banking, LetUs By RentMoola has collaborated with CheckAlt, while Hanseatic Bank has unified its authentication processes with help from Entersekt and Netcetera. Plus, DailyPay is working with PNC Bank and The Clearing House on real-time payments of earned income.
LetUs By RentMoola has teamed with CheckAlt, a lockbox and treasury management firm, to allow for more expedient check payments. Financial institutions (FIs) and businesses harness CheckAlt’s offerings. A Qualtrics study determined that 42 percent of millennials still harness checks for some kinds of transactions such as rent payments.
Hanseatic Bank, a German FI, has unified its authentication processes with a cloud-based identity and access management (IAM) offering from Netcetera. “We are pleased to be part of Hanseatic Bank’s success story as an integral part of the Netcetera IAM solution,” Uwe Härtel, country manager for Central Europe at Entersekt, said in a press release.
DailyPay, an on-demand payment firm, is working with The Clearing House and PNC Bank to provide real-time employee payments of earned income over the RTP network. “DailyPay’s utilization of the RTP network provides a seamless user experience and benefits the worker and the employer,” Steve Ledford, senior vice president of Product Strategy and Development at The Clearing House, said in an announcement.
The digital yuan is now in play in the Xiong’an New Area of China. The district, which is located near Beijing, has served as a testing ground for new economic ideas. The digital yuan, which is a central bank digital currency (CBDC), will be harnessed in that location to pay some workers. China is said to be far along in its piloting of the new digital yuan. It has done so in multiple regions in the last year.
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