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What are CHAPS payments?

What are CHAPS payments?

The Clearing House Automated Payment System (CHAPS) is one composed of more than 30 direct participants and over 5000 financial institutions. Here, we take a look at the history of CHAPS, who it is designed for and the benefits of one of the most popular high-value...

Digital currency fraud prevention tips

Digital currency fraud prevention tips

Cryptocurrency trading and investments have become increasingly popular in recent years. With first time investors and crypto enthusiasts lured in by the soaring value of bitcoin, financial institutions are becoming increasingly aware of a rise in fraud victims among...

What is Faster Payments? A Complete Guide

What is Faster Payments? A Complete Guide

The Faster Payments Service (FPS) is an extremely popular method of making fast, effective and reliable payments in the UK. As the name suggests, payments made through FPS are much quicker than other methods, particularly if both the sending and receiving bank are...

What Are NFTs? Non-Fungible Tokens Explained

What Are NFTs? Non-Fungible Tokens Explained

Non-fungible tokens (NFTs) are units of data that are stored on a blockchain. This essentially guarantees that a given digital asset is unique and cannot be interchanged with something else. In recent times, there have been several reports of some NFTs being sold for...

Why London Remains at the Heart of European Fintech

Why London Remains at the Heart of European Fintech

London has long been known as the financial capital of the world, despite the presence of other major hubs across the globe, such as New York, Hong Kong and Frankfurt. Here, we look at why London remains at the heart of European fintech in particular and whether this...

VIRTUAL IBANS: EXPLAINER

VIRTUAL IBANS: EXPLAINER

Virtual IBANs are one of the many payment solutions that Clear Junction provides access to. Indeed, they rank among our most popular and readily utilised services and it is easy to see why: virtual IBANs help banks and financial institutions reduce costs, increase...

What is Bacs? Complete Guide to Bacs Payments

What is Bacs? Complete Guide to Bacs Payments

Bacs (or BACS) is an acronym that stands for Bankers’ Automated Clearing System. Put simply, it is a network of banks and building societies that are part of the Bacs payment services scheme and is a convenient means for businesses to make electronic payments directly...

Brexit and SEPA Payment Transactions

Brexit and SEPA Payment Transactions

As people increasingly live and work across borders, there is a greater need for money to move freely too. But what happens when the nature of one of those borders changes? Here at Clear Junction, we have noticed that since the UK departed from the European Union...