Payments
BankSocial announces credit union payments solution
June 3, 2024
BankSocial, an open banking platform, introduced a payments solution for credit unions, which connects to the RTP network from The Clearing House, according to a press release.
"BankSocial has uniquely launched the first fully cloud native implementation to connect to the RTP network from The Clearing House, combining Google Cloud, IBM MQ, and Hedera capabilities," John Wingate, chief executive of BankSocial, said in the release. "The result is broad availability of instant payments for even the smallest banks and credit unions, compatible with existing digital banking and core solutions."
In particular, the solution brings together the IBM MQ, RTP network, Hedera and Google for Startups for Cloud program.
"The BankSocial real-time payments solution delivers advanced, economical payments capabilities and simple integration with our existing core and digital banking platforms. We are excited to launch this new service," Elizabeth Osborne, COO of Great Lakes Credit Union, said in the release.
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