Latest news with #OBO
Yahoo
4 days ago
- Business
- Yahoo
Comerica Bank Ushers in New Era of RTP® Through New On-Behalf-Of (OBO) Payment Solutions
Comerica Bank and client Monex USA work together to introduce new OBO capabilities. DALLAS, June 16, 2025 /PRNewswire/ -- Comerica Bank "Comerica" announced it will become an early adopter of The Clearing House's revised rules for domestic On-Behalf-Of (OBO) payments on the RTP® network, the largest and most utilized instant payments network in the United States operated by The Clearing House. Comerica Bank, and its client Monex USA, a leading provider of international payments, corporate FX and currency risk hedging services, took part in one of the first OBO payments under the revised rules, reinforcing Comerica's dedication to delivering instant payment solutions designed for speed, efficiency and flexibility for both direct and indirect customers. OBO payments are RTP transactions originated by a sender to make a payment for another person (i.e., on behalf of that other person). The sender is the titled owner of the account from which the RTP payment is sent. The new rules replace existing requirements for Payment Service Providers and apply more broadly to intermediated RTP activity, introducing a consistent framework focused on payment transparency, due diligence, risk management and fraud reporting obligations. "Introducing this new capability is a testament to Comerica's commitment to providing our customers seamless, on demand access to funds, both for themselves and their own customers," said Allysun Fleming, Comerica Bank Executive Director of Payments. "RTP OBO payments unlock real-time disbursement use cases at scale, such as payroll and benefits, marketplace payouts, embedded payments, and more. We are excited to participate in an ecosystem that enforces transparency of funds." A comprehensive risk management framework for OBO payments on the RTP network broadens the benefits of RTP payments through enhanced oversight of intermediary payments providers. Through the new requirements, the RTP network strengthens participants' ability to manage risk for growing payment use cases and will increase momentum for the 24/7 real-time payment network that already processes more than one million transactions per day for more than 950 banks and credit unions. "Comerica was one of the first banks to join the RTP network and they continue to be an instant payments early adopter by offering OBO capabilities to customers," said Jim Colassano, Senior Vice President of RTP Business Product Management at The Clearing House. "We are excited to see how Comerica will utilize OBO payments to provide innovative capabilities to its customers, such as Monex USA." Monex USA is a digital payments platform designed for managing foreign currency and global transactions securely and conveniently. RTP OBO payments for domestic transactions will enable Monex USA to facilitate instant payments at scale, greatly simplifying their operational process and providing enhanced transparency end to end. "As Monex USA deepens its investment in advanced payment systems to harness the intersection of technology and digital commerce, RTP strengthens our value proposition by delivering not only speed, but also greater control and transparency – empowering clients with real-time insights and enhanced decision-making capabilities," said John Doyle, CEO of Monex USA. The introduction of OBO payments is part of Comerica's efforts to deliver real-time financial tools and solutions aimed at supporting businesses and enhancing the customer experience. For more on Comerica's payment solutions, visit About Comerica BankComerica Bank, a subsidiary of Comerica Incorporated (NYSE: CMA), is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial Bank, The Retail Bank and Wealth Management. Comerica, one of the 25 largest commercial U.S. financial holding companies, focuses on building relationships and helping people and businesses be successful. Comerica provides banking centers across the country with locations in Arizona, California, Florida, Michigan and Texas. Founded on Aug. 17, 1849, in Detroit, Michigan, Comerica continues to expand into new regions, including its Southeast Market, based in North Carolina, and Mountain West Market in Colorado. Comerica has offices in 15 states and services 13 of the 15 largest U.S. metropolitan areas, as well as Canada and Mexico. Comerica reported total assets of $77.6 billion at March 31, 2025. Learn more about how Comerica is raising expectations of what a bank can be by visiting and follow us on Facebook, X, Instagram and LinkedIn. About Monex USAMonex USA has provided corporate clients with industry-leading foreign exchange and international payment solutions for over 25 years. Monex USA is part of the wider financial services group controlled by Monex S.A.P.I. de C.V. (formerly Monex S.A.B. de C.V.) ("Monex"), a global investment-grade financial services institution. Founded in 1985, the Monex Group is a global financial services organization that services more than 70,000 clients worldwide. In 2024, Monex managed US $309 billion in deliverable FX trades and US $11.1 billion worth of assets. Through its subsidiaries, the group offers financial services in key financial centers worldwide throughout North America, Latin America, Europe, and Asia, and employs over 2,800 people globally. As part of the Monex Group, Monex USA is headquartered in Washington, DC, with offices in New York City and Beverly Hills. Learn more at About The Clearing HouseThe Clearing House operates U.S-based payments networks that clear and settle more than $2 trillion each day through wire, ACH, check image, and real-time payments. It is the nation's most experienced payments company, with a long track record of providing secure and reliable systems, payments innovation, and strategic thought leadership to financial institutions. In 2017, The Clearing House revolutionized U.S. payments by introducing the RTP® network, which supports the immediate clearing and settlement of payments, along with the ability to exchange related payment information across the same secure channel. These RTP capabilities enable all financial institutions to offer safer, faster, and smarter digital transaction services for their corporate and retail customers. Learn more at View original content to download multimedia: SOURCE Comerica Bank
Fashion Network
27-05-2025
- Business
- Fashion Network
Together Group acquires France's OBO experiential agency
Meanwhile Paris and London-based OBO creates 'transformational content, events, exhibitions and brand experiences' across all media for its clients and their customers in fashion, luxury, technology, entertainment and culture, 'leading projects from strategy, conception and design through to execution and amplification'. Together Group CEO Dr Christian Kurtzke underlined the appeal of OBO for the business, saying it's 'the creative agency and supervising producer trusted by leading brands and destinations for their brand-defining experiential moments. Their exceptional blend of creativity and cultural insight, enhanced by a range of digital tools — including real-time digital rendering technologies — allows them to craft immersive, emotionally resonant storytelling experiences across both live and digital environments'. He added that the latest acquisition complements earlier ones including digital animation studios Imerza and Visualisation One, and that OBO 'will form an integral part of Together Group's tech-powered immersive experiential platform to transform luxury for the experience economy'. Under René Celestin, the 25-year-old agency's client portfolio includes Ami, Armani, Bulgari, Celine, Elie Saab, L'Oréal Paris, The Row, Saint Laurent, Toteme, Victoria's Secret and Zimmermann among others. High-profile projects have included Célestin and team acting as creative director and head producer of the Victoria's Secret Fashion Shows for 12 years running. More recently, for the past six years, OBO has worked on the L'Oréal Paris shows, 'seamlessly blending fashion and entertainment for live audiences and global broadcasts reaching over 60 countries'. Part of OBO's appeal for Together also lies in its 'genuine, human-centred approach' with the team having 'a deep understanding of luxury brands, their distinctive codes, and the needs of their audiences. This insight enables them to translate creative visions into flawlessly executed experiences that feel both authentic and sophisticated'. And of course, in a luxury world that's increasingly experience-focused, that's hugely important. OBO is clearly characterised by a big vision — as a founding partner of the Paris Olympics Opening Ceremonies organiser, Paname 24, it helped coordinate the execution of two events 'deemed unprecedented in their scale and impact, setting new standards for creative excellence and logistical precision'. So why join Together Group now? In the release announcing the move, Together said OBO's decision has been 'driven by both operational and strategic opportunities. And Célestin explained further: 'When it comes to fashion shows as well as to wider brand storytelling across all customer touchpoints and campaigns, luxury brands need to think in ways that overcome segmentation and beyond the past, in order to meaningfully engage next-generation audiences. We are excited by Together Group's strategy, which reimagines luxury by bringing together some of the world's most exceptional creative talent with leading-edge immersive technology, to create the digital and physical experiences of the future.' Together, which itself has an ambitious vision, is particularly focused on expanding 'the footprint of our French operations, building an innovative Paris-based powerhouse that uniquely blends creativity, culture and cutting-edge immersive technologies to serve fashion, beauty and luxury brands as their trusted partner through the generational change for the next decade of transformation'. Dr Kurtzke added: 'With OBO, we complement our current experiential capabilities provided by our portfolio agency North Six [that] focuses on experiential retail activation in the beauty and fashion sector.' Since 2021, the group he leads has acquired as many as 14 agencies, collaborating as a curated group of category leaders across 19 locations globally with over 675 staff.
Fashion Network
27-05-2025
- Business
- Fashion Network
Together Group acquires France's OBO experiential agency
Meanwhile Paris and London-based OBO creates 'transformational content, events, exhibitions and brand experiences' across all media for its clients and their customers in fashion, luxury, technology, entertainment and culture, 'leading projects from strategy, conception and design through to execution and amplification'. Together Group CEO Dr Christian Kurtzke underlined the appeal of OBO for the business, saying it's 'the creative agency and supervising producer trusted by leading brands and destinations for their brand-defining experiential moments. Their exceptional blend of creativity and cultural insight, enhanced by a range of digital tools — including real-time digital rendering technologies — allows them to craft immersive, emotionally resonant storytelling experiences across both live and digital environments'. He added that the latest acquisition complements earlier ones including digital animation studios Imerza and Visualisation One, and that OBO 'will form an integral part of Together Group's tech-powered immersive experiential platform to transform luxury for the experience economy'. Under René Celestin, the 25-year-old agency's client portfolio includes Ami, Armani, Bulgari, Celine, Elie Saab, L'Oréal Paris, The Row, Saint Laurent, Toteme, Victoria's Secret and Zimmermann among others. High-profile projects have included Célestin and team acting as creative director and head producer of the Victoria's Secret Fashion Shows for 12 years running. More recently, for the past six years, OBO has worked on the L'Oréal Paris shows, 'seamlessly blending fashion and entertainment for live audiences and global broadcasts reaching over 60 countries'. Part of OBO's appeal for Together also lies in its 'genuine, human-centred approach' with the team having 'a deep understanding of luxury brands, their distinctive codes, and the needs of their audiences. This insight enables them to translate creative visions into flawlessly executed experiences that feel both authentic and sophisticated'. And of course, in a luxury world that's increasingly experience-focused, that's hugely important. OBO is clearly characterised by a big vision — as a founding partner of the Paris Olympics Opening Ceremonies organiser, Paname 24, it helped coordinate the execution of two events 'deemed unprecedented in their scale and impact, setting new standards for creative excellence and logistical precision'. So why join Together Group now? In the release announcing the move, Together said OBO's decision has been 'driven by both operational and strategic opportunities. And Célestin explained further: 'When it comes to fashion shows as well as to wider brand storytelling across all customer touchpoints and campaigns, luxury brands need to think in ways that overcome segmentation and beyond the past, in order to meaningfully engage next-generation audiences. We are excited by Together Group's strategy, which reimagines luxury by bringing together some of the world's most exceptional creative talent with leading-edge immersive technology, to create the digital and physical experiences of the future.' Together, which itself has an ambitious vision, is particularly focused on expanding 'the footprint of our French operations, building an innovative Paris-based powerhouse that uniquely blends creativity, culture and cutting-edge immersive technologies to serve fashion, beauty and luxury brands as their trusted partner through the generational change for the next decade of transformation'. Dr Kurtzke added: 'With OBO, we complement our current experiential capabilities provided by our portfolio agency North Six [that] focuses on experiential retail activation in the beauty and fashion sector.' Since 2021, the group he leads has acquired as many as 14 agencies, collaborating as a curated group of category leaders across 19 locations globally with over 675 staff.
