Sound Credit Union partners with ModusBox to integrate Zelle
By Pavithra R
Sound Credit Union (Sound), a leading credit union (CU) in Washington state has announced a new partnership with ModusBox, a Seattle-based payment and core banking integration software company, to support the integration of Zelle, a premier P2P network for financial institutions (FIs).
Under the partnership, the CU will integrate the PortX Payment Manager solution from ModusBox. PortX Payment Manager connects to the banking core and provides components for institutions to move from batch processing to real-time payments that support networks like Zelle. The Zelle Network connects FIs of all sizes, enabling consumers and businesses to send digital payments to people they know and trust with a bank account in the United States. Zelle and the Zelle related marks are wholly owned by Early Warning Services. For Sound, Payment Manager will allow the CU to connect to Zelle rapidly.
“We built Payment Manager as an affordable solution that creates rapid time-to-market and gets Zelle into the hands of Sound’s members. Once implemented, we believe this will dramatically improve their members’ overall user experience overnight,” said David Wexler, CEO.
PortX Payment Manager benefits include:
- All-in-one solution to connect to payment networks like Zelle
- End-to-end transaction tracking and monitoring
- Drop-in suite of simple & reusable APIs that instantly integrate payment channels into the user’s banking core
- Browser-based configuration and management (No IDE Required)
- Real-time fraud monitoring with alerting, configurable scoring, and integrations to existing case management systems
- A real-time ledger that supports same-day settlement and automatic reconciliation
- Intuitive management portal that simplifies the setup process for creating new connections
- Scalable solution that supports connectivity to multiple payment networks includingSWIFT, Fedwire,ACH and Zelle
- Runs on the PortX Integration Platform
“We are excited to partner with Sound. This work will demonstrate how other community financial institutions can digitize their payment solutions and rapidly deliver new services to their members. This is especially timely as we see the demand for digital offerings rapidly increase as a result of the pandemic,” added Wexler.
Established since 1940, Sound provides authentic and trusted financial support and services with full-service branches around the Puget Sound.
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