WICHITA, Kan.— Juniper Payments, a cloud-based, non-bank third-party provider of inter-bank transaction and reporting systems in the U.S. and a unit of PSCU, said it is partnering with Millennium Corporate Credit Union to offer integrated payments solution to credit unions nationally.
Through the collaboration, Juniper Payments and Millennium CCU said they will deliver integrated transaction, reporting and settlement services to Millennium CCU member credit unions through a solution called “coreCONNECT,” which it said was designed and built specifically to facilitate end-to-end payments processing for the corporate’s correspondent financial institutions.
“We are pleased to expand our relationship with Juniper Payments as we’ve witnessed firsthand their industry commitment to providing innovative solutions for correspondent financial institutions,” said Larry Eisenhauer, president and CEO if Millennium Corporate. “We’ve been working with both Juniper Payments and the Federal Reserve for years to ensure our member credit unions have access to innovative technology that is simple and intuitive. Participating in FedNow positions our member credit unions for success by bringing instant payments to market to meet member demand.”
Also Included
According to the organizations, coreCONNECT will also include access to the JuniFunds Payments Hub (JuniFunds) from Juniper Payments, a “true value-add to Millennium CCU’s robust offerings and its service-centric culture.”
JuniFunds introduces origination options and delivery of the newest payment rail, FedNow Services, which will be offered by the Federal Reserve Bank beginning on July.
“This technology operates 24/7/365, enabling financial institutions of all sizes to offer their membership the ability to send and receive money immediately, providing receivers instant access to funds,” Millennium Corporate said.
It added that FedNow enables the fastest form of payments between financial institutions, consumers, businesses and government entities with “nearly unlimited use cases.”
‘Major Step Forward’
"Juniper Payments has a longstanding relationship with Millennium Corporate Credit Union, and this partnership represents a major step forward in our mission to provide innovative, integrated payments solutions to financial institutions of all sizes,” said Jon Budd, CEO, Juniper Payments. “With coreCONNECT by Millennium CCU and JuniFunds, credit unions will have the ability to easily transition from a batch-based environment to a modern, automated payment ecosystem that saves time and enhances member relationships.”
For more info: junifunds.com.
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