Allied Payment Network partners with NYDIG to empower Community FIs that are struggling to compete

By Pavithra R

Allied Payment Network, provider of online and mobile digital payment services to community financial institutions, has announced partnering with NYDIG, a leading bitcoin technology and financial services company.

The collaboration enables financial institutions to offer their customers the ability to buy, sell and hold bitcoin. Allied touts to be the first bill pay provider in the industry to embed this service in its platform and offer it to financial institutions.

“Allied’s primary focus is to make it easier for financial institutions to provide value-based technology that differentiates them in the marketplace, attracts new depositors, retains through high engagement, and generates revenue. Providing access to bitcoin does just that, and is a game-changer for many community institutions that are struggling to compete,” said Ralph Marcuccilli, Founder and CEO of Allied.

Along with this partnership, Allied announced it will make an allocation to bitcoin for its corporate treasury, facilitated by NYDIG. The partnership helps financial institutions meet the growing adoption of bitcoin while providing consumers with a secure, easy-to-use alternative to transacting with unregulated bitcoin entities.

Consumers get seamless access to NYDIG’s secure, regulated platform for Bitcoin upon logging into the financial institution’s bill pay platform via online banking or mobile app. Allied and NYDIG will also be working toward additional capabilities such as the ability for consumers to make digital payments funded by bitcoin.

“Our partnership with Allied will enable financial institutions to bring bitcoin to their customers in a secure, compliant way. Together with Allied, we are excited to help financial institutions compete and to help consumers get seamless access to Bitcoin via their existing trusted relationships,” said Patrick Sells, Head of Bank Solutions at NYDIG.