Digital Transactions is reporting that Pariter Solutions is being shut down.
Three years after introducing a joint venture aimed at processing ACH transactions between the two banks, Wells Fargo & Co. and Bank of America Corp. have abandoned the operation, which they called Pariter. “It will shut down over the next few weeks,” a Wells spokesperson tells Digital Transactions News. “It will take a few weeks to figure out what the specific impacts are.”
The original announcement trumpeting the launch of joint venture is still available.