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Bankers’ Bank to leverage OPN’s integration with TCH-RTP® and FedNow℠.
Pleasant Grove, Utah, May 2, 2023 – Open Payment Network (OPN), the provider of a secure technology platform that enables instant payments anytime, anywhere, today announced a new partnership with Bankers’ Bank located in Madison, WI. The partnership enables the bank to deliver instant payment services to respondents via API connectivity to TCH-RTP and FedNow.
“Understanding the needs of our customers is critical to the services we offer,” said Bankers’ Bank CIO Barbara Gross. “We’ve seen the demand for instant payments grow exponentially over recent years, and as a result, finding a way to offer those services to our partners has become a major priority. Working with OPN gives us the opportunity to achieve our goals.”
Bankers’ Bank serves a multitude of Community Banks across the US ranging in size from $30M to $10B+. Being a bank for banks, it’s grounded on the mission to partner, rather than compete with its respondents.
“Our goal has always been to provide first-class services to our customers,” said Bankers’ Bank VP of Faster Payments, Todd Koehn. “By partnering with OPN, we are able to provide FedNow-only settlement services for Community Banks while leveraging its Aite-Novarica award-winning Funding Agent with Smart Liquidity℠, which consolidates RTP and FedNow into a single report. If Community Banks aren’t able to connect to RTP or FedNow, our partnership with OPN will allow them to connect to both RTP and FedNow with one secure connection.”
OPN’s integrations enable send/receive/RFP capabilities on TCH-RTP and the Fed Now service. This capability will allow respondent banks to deliver cutting edge services to benefit their customers.
“Partnering with Bankers’ Bank improves their service for hundreds of Midwest financial institutions,” said Open Payment Network CEO, Bradley Wilkes. “We are honored to work closely with this organization to bring solutions to market that leverage the TCH-RTP and FedNow services.”
About Bankers’ Bank
Bankers’ Bank is a bank-owned correspondent based in Madison, Wisconsin, since 1981. Bankers’ Bank is the Midwest’s leading provider of banking services to community banks in Wisconsin, Illinois, Indiana, Iowa, Ohio, Michigan and beyond. As an independent source of non-competing financial services, the Bank serves a market of over 700 financial institutions. The Bank does not serve the public, so it never competes with client banks for business. Visit www.bankersbank.com.
About Open Payment Network
Open Payment Network™ (OPN) helps financial institutions attract and retain more customers and stay ahead of the competition by enabling them to deliver instant payments anytime, anywhere. By connecting to OPN’s secure technology platform, financial institutions become the gateway for instant payments via Internet and mobile device. The OPN platform integrates with existing core systems and moves payment value and associated data in real time for immediate settlement. Financial institutions can provide access to the OPN API so business customers, fintech developers and internal teams can create applications such as instant mortgage payments, payroll processing, and peer-to-peer payments. Visit www.openpaymentnetwork.us.
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