back Back

U.S. Bank, Apex Fintech Solutions to deliver real-time payments to brokerages

By Edlyn Cardoza

April 22, 2022

  • ACH Return
  • Apex Clearing Corporation
  • Apex Fintech Solutions
Share

U.S. Bank, Apex Fintech Solutions, Real Time Payments, Apex Clearing Corporation, Digital Wealth Management, Real Time Payment Solution, Instant Payments, ACH Return, Risk Management, RTP Network, Request for Payment, USAU.S. Bank recently announced a real-time payment collaboration with Apex Fintech Solutions to provide greater speed and security to money movement between individual investors and broker-dealers.

Through its subsidiary Apex Clearing Corporation, Apex provides clearing and custody services to some of the top online brokerages, powering the future of digital wealth management through innovation. With this real-time payment solution, brokerages using Apex will be able to offer individual investors a more streamlined payment solution that enables instant funding of their brokerage accounts and instant disbursement from their brokerage accounts to their bank accounts.

“U.S. Bank is focused on making the adoption of real-time payments simple and effortless so businesses and consumers can take advantage of the power of instant payments,” said Shailesh Kotwal, Vice-Chair, Payment Services at U.S. Bank. “We’re proud to work with Apex to help remove payment pain points for brokerages and individual investors, who stand to greatly benefit from the speed and security of real-time payments.”

“The need for real-time payments has been steadily growing across multiple industries. At Apex, we are committed to driving innovation to stay ahead of consumer demands and are pleased to provide safe, easy, and seamless access to payment solutions,” said Bill Capuzzi, CEO at Apex. “U.S. Bank is a trusted partner, and we’re thrilled to bring real-time payments to market as we deliver a customer-centric solution to our clients.”

In recent months, U.S. Bank and Apex have worked together to develop a tailored solution that will create a frictionless payment experience for individual investors. From their broker dealer’s app or website, investors will be able to use real-time payments to request:

  • Immediate movement of funds from their bank account instantly into their brokerage account 24/7/365, reducing the risk and operational hassles of an ACH return for broker-dealers;
  • Movement of funds from their brokerage account instantly into their bank account, enabling immediate access and an improved investing experience.

Real-time payments are expected to be available for brokerages using the Apex platform in the third quarter of 2022.

With The Clearing House’s RTP® Network, the first new payment rail in the U.S. in more than 40 years, U.S. Bank helps businesses send and receive payments instantly, 24 hours a day, 365 days a year. U.S. Bank, which participated in the first-ever payment on the RTP Network, is one of the top senders of RTP transactions in the U.S. The bank is continually developing new ways for companies to utilise real-time payments, such as a new Request for Payment solution for billers.

Previous Article

April 22, 2022

Dreams appoint 3 new senior hires to drive the company’s B2B expansion

Read More
Next Article

April 22, 2022

Monneo launches cryptocurrency payments processing for merchants

Read More










IBSi Daily News Analysis

Euro

June 01, 2023

ACH Return

With ECB nearing its launch, could Digital Euro become a reality?

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 01, 2023

Pleo lets users auto-recharge spending accounts with J.P. Morgan

Read More

June 01, 2023

Mastercard & Dapi partner to bring A2A payments to the UAE

Read More

June 01, 2023

Payhawk unveils new Enterprise Plan in partnership with Microsoft

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