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Raphaels Bank has become the first new fully operational participating financial provider of Faster Payments, the UK’s 24/7 real-time payment service. Raphaels Bank is the 12th direct participant of the Faster Payments Scheme, and the first new bank to connect directly to the payment system since it was launched in 2008. Raphaels is using its participation to act as a sponsor – enabling other payment service providers (PSPs) to access true, 24/7 real-time payments via its connection. Read more here.