back Back

Sound Credit Union partners with ModusBox to integrate Zelle

By Pavithra R

November 11, 2020

  • Sound Credit Union
  • USA
Share

 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.

Previous Article

November 11, 2020

U.S. Bank introduces AP Optimizer; digitally transforms invoice-to-pay process

Read More
Next Article

November 11, 2020

Contis and Token to drive value of digital payments functionality

Read More










IBSi Daily News Analysis

Bank fraud

June 06, 2023

Sound Credit Union

Despite better banking oversight, fraud remains a real threat to the future

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 05, 2023

Tink to embed ecolytiq’s solution to scale sustainability services

Read More

June 05, 2023

Global Paytech Ventures invests in Klearly’s ‘Tap to Pay’ solution

Read More

June 02, 2023

Sikoia chooses Yapily to provide Open Banking access to its clients

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q1 2023

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q1 2023

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q1 2023

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q1 2023

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022