Payments
BankProv adopts RTP Network for payments
August 25, 2021
BankProv, a subsidiary of Provident Bancorp Inc., has officially adopted the RTP Network, a payments system by the Clearing House that can help send, clear and settle payments instantly. The platform features both instant settlement and availability so customers can withdraw or use the cash afterwards, according to a press release.
BankProv partnered with COCC to connect to the RTP Network. The network itself will offer continuous uptime, traceability and reduced risk of returns.
"The Clearing House is excited that BankProv is bringing real-time payments to its customers," Jim Aramanda, CEO of The Clearing House, said in the release. "The RTP network is designed to be implemented by all depository institutions, allowing innovative banks such as BankProv to provide new levels of speed and efficiency in transactions that will significantly benefit their customers."
