The PATH to Success: Last Chance to Register for Innovate 2025, Instant Payments, ISO 20022, Upcoming Events, and more!

March 2025

Administrators can update users in PATH, and they can separately update users in CXI. When adding or removing users in PATH, you will likely want to update those users in CXI also.

Instant Payments

Where does your financial institution stand on instant payments? Recently at a conference, someone mentioned that they believed their bank customers should simply use Venmo or another other third-party service. Their solution to their customers’ needs was to direct them to a competitor. However, this doesn’t have to be your solution. It is important to explore your options and resources and determine a plan that works for your institution.

At one point, people claimed that “no one would use cash when coins were available,” or “no one is going to write checks when they can just pay cash.” They argued, “no one would pay with a card when they can write a check,” and that ACH would never catch on. Instant payments represent a new payment rail that is here to stay, just like cash, checks, credit cards, and ACH. How can you take advantage of this opportunity? How can you maintain your competitive edge? Customers often don’t ask for services until after they’ve been introduced to them by a competitor. Get ahead by anticipating their needs and having instant payments readily available.

*U.S. Faster Payments Council – Instant Payments Adoption Outlook

ISO 20022

The compliance deadline for the ISO 20022 standard has been extended from March 10, 2025, to July 14, 2025.

The delay is a result of service providers and financial institutions not being prepared. It is critical that you continue to prepare your staff for the transition to ISO 20022 taking place in July. Each bank should ensure that their vendors and core are ready to comply with the ISO 20022 standard when it takes effect on July 14. Although we at BBOK are ready, we cannot go live with the ISO 20022 standards until the Federal Reserve implements the change on July 14.

Find all our resources, including our ISO 20022 Bulletins, webinar recordings, and training videos, on our ISO 20022 Resources webpage to help you and your staff prepare.

Our team at Bankers' Bank of Kansas would be happy to

speak with you about instant payments or ISO 20022.

For questions regarding ISO 20022, please visit the ISO 20022 Resources page at BBOK.com or email us at path@bbok.com.

For questions related to instant payments, please contact either of our

Vice President - Relationship Managers, or email us at path@bbok.com:

Bryan Blundell

Vice President - Relationship Manager

direct 316.681.9213 | mobile 316.218.2129

office 316.681.2265 | bblundell@bbok.com

Matt Allred

Vice President - Relationship Manager

direct 316.681.9248 | mobile 316.833.2841

office 316.681.2265 | mallred@bbok.com

REGISTER FOR INNOVATE 2025 BEFORE IT'S

TOO LATE!

Don't miss the chance to hear our Instant Payment Panel speakers from The Federal Reserve, Aptys Solutions, and The Clearing House!

The final day to register for Innovate 2025 - BBOK Operations Summit

is Wednesday, April 9.

IN THE KNOW

Stay up to date on all things happening in the Cash Management department at BBOK!

Bank Staff Changes

BBOK has your banks' Authorized Signature card on file. If you have had recent bank staff changes for individuals listed on these files, please contact rwalcher@bbok.com to review if new Authorized Signature cards are needed.

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Upcoming Events

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