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CheckAlt partners with NXTsoft on real-time integration with core providers

By Pavithra R

August 28, 2020

  • Checkalt
  • Nxtsoft
  • USA
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CheckAlt, a leading independent provider of lockbox and treasury solutions in the United States has announced that the firm has partnered with NXTsoft’s secure connectivity solution, OmniConnect to improve product onboarding processes and facilitate real-time connections between CheckAlt, credit unions (CUs), core providers, and banks for its loan payment processing solution LoanPay. 

For NXTsoft, the partnership comes at a pivotal moment when the firm is accelerating its FinTech-focused open banking OmniConnect Marketplace launch where vendors can select FinTech API integrations from major industry players including CheckAlt.

“The onboarding process for CheckAlt’s loan payment processing solution, LoanPay, requires establishing secure connections between the financial institution, its core provider, and CheckAlt. By partnering with NXTsoft, we can streamline LoanPay onboarding by creating real-time integrations that resolve payment friction. Even more importantly, this integration also provides real-time access to consumers. This integration reaffirms CheckAlt’s commitment to the real-time expectations of consumers for access to their financial data and the streamlined processes they expect from their credit unions and banks,” said Bobby Rahmanian, CheckAlt’s Chief Product and Innovation Officer.

Real-time core connections ensure faster payment delivery and can help credit unions avoid applying late fees to members. Through this partnership, CheckAlt and NXTsoft expect to further enable CUs to provide an enhanced experience for their members while minimizing manual processes.

“We are delighted to partner with CheckAlt to help them further their goals of removing payment friction and enhance the overall customer experience. With the NXTsoft OmniConnect Marketplace, we are set to reshape the way financial institutions engage with digital banking technology providers to deliver on the growing demand for contactless and real-time payment solutions,” said Rich Longo, President of NXTsoft’s Omni Platform.

Recently, CheckAlt & Tru Treasury partnered for offering treasury management solutions for Credit Unions.

Founded in 2004, CheckAlt delivers item processing and treasury management solutions for financial institutions and business clients in the U.S. representing a variety of industry sectors, including property management, healthcare, utilities, municipalities, nonprofit, higher education, and small business.

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