COLUMBUS, Ohio–Corporate One FCU is reporting is has now connected 18 credit unions to the RTP network via its Third-Party Service Provider (TPSP) solution.
The corporate said it is extending the solution to connect to the FedNow Service within the first quarter of 2024 to provide a unified connection solution for credit unions to both immediate payment rails.
“Establishing a connection between credit unions and the RTP network and the FedNow Service is a fundamental part of our vision for credit unions to embrace immediate payments, and the interest we’ve seen in the last year indicates an increasing recognition of the tangible benefits that immediate payments offer and that they constitute a strategic imperative for the future,” said President and CEO Melissa Ashley. "The success of our TPSP solution underscores our commitment to empowering credit unions with a simple solution tailored to enable credit unions to easily leverage real-time payments at an affordable cost.”
Dedicated to Immediate Payments
According to Corporate One, it has “dedicated the past decade to becoming a leader in immediate payments.”
It joined the Federal Reserve Faster Payments Task Force in 2015.
“Our focus is to ensure that the advantages of immediate payments extend beyond the big banks, so credit unions can also capitalize on the opportunities they present,” Ashley said. “Corporate One has deepened our expertise, developed specialized capabilities, and is committed to providing education, solutions, and benefits of immediate payments to credit unions.”
Simplified API
Corporate One said it can establish an immediate payments connection with credit unions through a simplified API that can be integrated into various products and services.
“ As a certified TPSP for the RTP network, Corporate One utilizes an open payment platform to technically connect credit unions to the RTP network, allowing credit unions to send and receive real-time payments without limitations on payment messages and integration services,” the organization said. “The open framework provided by Corporate One ensures that credit unions have maximum flexibility to develop the payment experiences they desire.
Now Onboard
As of Dec. 21, 2023, Corporate One said the following credit unions are utilizing it as their TPSP to connect to the RTP network:
- Bluestone Federal Credit Union
- Bridge Credit Union
- Catholic and Community Credit Union
- Canton School Employees (CSE) Federal Credit Union
- Cincinnati Police FCU
- Credit Union of Ohio
- Day Air Credit Union
- Directions Credit Union
- Element Federal Credit Union
- Erie Community Federal Credit Union
- Firelands Federal Credit Union
- Integrity Federal Credit Union
- Medina County Federal Credit Union
- New Horizon Federal Credit Union
- Partnership Financial Credit Union
- Pathways Financial Credit Union
- River Valley Credit Union
- Solidarity Community Federal Credit Union
- Superior Credit Union
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