Bulking up

FileAct eases the burden of bulk payments but faces slow roll out in Asia (although German pensioners love it).

Imagine, if you can, that you are a German pensioner who has retired to the golden shores of Australia. Every month, the German government will send you your pension, which you can withdraw from a local bank in Australia. It probably does not cross your mind how this process actually happens. But until very recently, it was a process that was done manually the Bundesbank created a magnetic file and then couriered it on a plane down to Australia, where...

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