Corporate One Federal Credit Union has teamed up with D+H to offer real-time payments to corporate clients.
Leveraging D+H’s cloud-based testing sphere, the credit union will explore a real-time payment solution connected to The Clearing House's (TCH’s) real-time payments network.
TCH is the centralised infrastructure for the new real-time payments rails in the US that also assesses the benefits that real-time payments can provide.
The testing environment will allows the credit union to use D+H's US real-time initiation channels, payment hub solution, and open API layer to quickly and easily simulate the execution and clearing of payments on the TCH network.
Corporate One noted that the real-time payments will boost operational efficiencies and attract new members, while benefiting from the closeness and certainty associated with real-time payment execution.
Corporate One president/CEO Lee Butke said: “Corporate One recognizes the strategic shift faster payments present to credit unions to enable them to remain relevant and competitive financial services providers.
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“Being the first organization to commit to this real-time testing platform aligns with our strategic initiative to fully understanding and enabling real-time payments functionality for our members and credit unions nationwide. We are excited to get started."