Alacriti & The Clearing House partner to drive faster payments innovation
By Pavithra R
Alacriti, a leading FinTech company dedicated to helping clients in accelerating their digital payments transformation has announced that the company has partnered with The Clearing House to help foster real-time payments adoption across the banking and credit union (CU) markets.
Alacriti provides a cloud-native platform (Orbipay) for faster payments innovation, enabling both banks and CUs to securely access the RTP network and deliver new products and services rapidly to their retail and corporate customers.
The RTP network, developed by The Clearing House is empowering financial institutions and businesses to implement innovative, value-added use cases for faster payments. It gives the banking industry a modern platform for 24/7 domestic real-time payments, complete with immediate payment confirmation and rich data capabilities. The network enables instantaneous settlement and availability, so funds can be used or withdrawn as cash immediately.
“We’re committed to providing advanced cloud-native solutions that help financial institutions of all sizes accelerate their connection to the RTP network without needing to make expensive technology investments. As the real-time payments market evolves, our goal is to help banks, community banks, and credit unions drive new revenue by delivering innovative faster payment services to their customers,” said Carl Robinson, Senior Vice President at Alacriti.
Avidia Bank, a $2 bn mutual community bank headquartered in Hudson, MA, is working with Alacriti to help drive the market for real-time payments.
“We are excited that Alacriti will be joining the growing number of technology firms who can bring real-time payments via the RTP network to banks and credit unions. We look forward to working with Alacriti to provide access to the RTP network to financial institutions of all sizes,” said Keith Gray, Vice President of Strategic Partnerships at The Clearing House.
Established since 1853, The Clearing House is a banking association and payments company owned by the largest commercial banks. According to company data, RTP network currently reaches 56% of U.S. demand deposit accounts, and about 30 financial institutions are live on the network. It offers a flat pricing structure for all depository institutions and does not include volume discounts or have minimum volume requirements.
IBSi Daily News Analysis
December 04, 2023
Saudi Arabian firms are likely to outsource cybersecurity by next year, study showsRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage