US-based digital payments fintech Alacriti has forged a partnership with The Clearing House to accelerate the adoption of real-time payments among banks and credit unions.
Alacriti provides both banks and credit unions with a cloud-native platform for faster payments, enabling access to the RTP network.
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The company will help these financial institutions to deliver new products and services to their retail and corporate customers.
It has partnered with Massachusetts-based mutual community bank Avidia Bank to drive the real-time payments market.
Avidia COO Bob Conery said: “At Avidia we are constantly looking forward to what’s next and what’s differentiated to stay ahead of where the market is going. Working with progressive fintech players like Alacriti to quickly deliver real-time payment services on the RTP network is key to that end.”
The Clearing House developed the RTP network, the first new payments infrastructure built in the US in over 40 years.
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By GlobalDataThe RTP network enables banks to offer 24/7 domestic real-time payments via a modern platform, which provides immediate payment confirmation.
The network also enables instant settlements and availability of cash.
The Clearing House VP of strategic partnerships Keith Gray said: “We are excited that Alacriti will be joining the growing number of technology firms who can bring real-time payments via the RTP network to banks and credit unions.
“We look forward to working with Alacriti to provide access to the RTP network to financial institutions of all sizes.”
Alacriti SVP Carl Robinson said: “We are committed to providing advanced cloud-native solutions that help financial institutions of all sizes accelerate their connection to the RTP network without needing to make expensive technology investments.
“As the real-time payments market evolves, our goal is to help banks, community banks, and credit unions drive new revenue by delivering innovative faster payment services to their customers.”
Last month, FIS partnered with The Clearing House to bring real-time payment processing and settlement to financial institutions in the US.
