Truist Financial Corporation announced the successful completion of the initial testing phase of an innovative alias-based bill payment solution that leverages The Clearing House’s RTP network and Request for Payment (RfP) platform. The achievement positions Truist as the first financial institution to send and receive alias-based RfPs for transactions and deliver corresponding real-time payment and settlement via the RTP system. The solution will ultimately enable businesses to offer faster, simpler, more secure, and cost-effective bill payments. Consumers will benefit from greater control and transparency. The payment process will be streamlined for speed and simplicity — for both billers and consumers — by using nearly 150 million previously enrolled U.S. mobile and email tokens. To meet small business and consumer demands for speed, transparency, financial control, and security, this enhanced bill pay solution will deliver faster processing, easy account monitoring, and tokenized fraud protection. Additionally, consumers will receive immediate confirmation their payment has been received and subsequent confirmation it has been applied. Key benefits for large corporate billers will include: Immediate payment validation; Accelerated cash flow; Streamlined data management; Enhanced data security; Reduced operational costs.