Dear Members:
I am excited to announce that Corporate One has extended its Third-Party Service Provider (TPSP) solution from the RTP® network to include the FedNow® Service. This means we can enable a technical connection through a simplified API so your credit union can receive instant payments via the FedNow Service and integrate instant payments into various products and services.
Launched in July 2023, the FedNow Service is rapidly transforming the U.S. payment landscape, allowing 24/7/365 instant money transfers. The demand for the service is on the rise, with nearly 700 financial institutions already connected. Corporate One has onboarded its first group of credit unions, and our implementation queue continues to grow.
Our FedNow TPSP solution features the following:
Simplified connection. Our core-agnostic open-payment platform isn’t restricted by the limitations of legacy technology and uses simplified APIs to connect your credit union to the FedNow Service.
Effortless profile management. Credit unions accessing FedNow require using FedLine Advantage or Direct, which can be cost-prohibitive, especially for smaller credit unions. Our profile management service eases the burden, allowing your credit union to realize the benefits of instant payments and competitively serve your members.
Flexibility and control. You decide how to offer instant payments to your members, whether through a mobile app, online banking, or other channels.
Streamlined implementation. Experience a comprehensive yet turnkey implementation with Corporate One’s simplified three-step implementation process, complete with white-glove service for both immediate payment rails. We’ve established integrations with several core processors for accelerated onboarding to expedite connections for credit unions on those cores.
At Corporate One, our vision is to empower your credit union to meet evolving member expectations and remain competitive in a rapidly changing digital finance marketplace. We understand the growing needs of your members, and we're here to equip you with the tools to meet those needs and exceed their expectations. That’s why we developed a comprehensive suite of immediate payment solutions, allowing you to offer the speed and convenience your members desire. Going forward, we have no plans to slow down. We're constantly innovating, unlocking the full potential of immediate payments with new capabilities planned for the future.
Corporate One aspires to be your one true partner, connecting you to both immediate payment rails and enabling your credit union to succeed in serving its members. Imagine a world where your credit union is the single source for all your members' payment needs. This is the future we're building together. Let us be your partner to make it a reality.