Glossary
Faster Payments
Faster Payments is the UK scheme that moves money between bank accounts in near real time, usually within seconds, around the clock. It underpins instant disbursements and Open Banking payments, and is far quicker than the multi-day Bacs cycle.
For lenders, Faster Payments means funds can reach a borrower almost immediately once a loan is approved.
How Credit Canary helps with faster payments
Credit Canary brings the data, decisioning and payments behind Faster Payments into one platform for UK lenders.
Payment ManagementRelated terms
See Faster Payments in a working platform
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