BB&T Cashes In Its CHIPS For a Better Backstop

Adams, John
January 2005
Bank Technology News;Jan2005, Vol. 18 Issue 1, p10
Trade Publication
The article reports that need to have safety backup is pervasive, touching all aspects of a financial institution's business. This is one of the major reasons why the institution is adding the Clearing House Interbank Payments System (CHIPS) to its payments processing capabilities. BB&T Corp. plans to be converted to CHIPS by tune 2005 to execute realtime large dollar payments in the U.S. It hopes that adding a second alternative will provide flexibility and redundancy in a time that cries out for both.


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