D+H, which provides solutions to financial institutions, has announced its newest partner to promote real-time payments for corporates.
The company said Monday (Mar. 6) that it is working with Corporate One Federal Credit Union, a corporate credit union, to collaborate on offering real-time payment services to corporate clients. The credit union will make use of D+H’s cloud-based testing sphere to explore a real-time payment solution connected to the Clearing House’s real-time payments network.
“Corporate One recognizes the strategic shift faster payments present to credit unions to enable them to remain relevant and competitive financial service providers,” said Corporate One President and CEO Lee Butke in a statement. “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.”
D+H offers its financial institution clients access to an open API and its initiation channels to test simulated transactions via the TCH network. According to Corporate One, the ability to test real-time payment solutions and eventually offer that to its own customers enhances the credit union industry’s overall ability to attract new customers and meet current customer demand for faster payments.
“Corporate One is eager to gain access to this testing platform, which will enable us to mimic the ability to send and receive payments real time in a variety of use cases for business-to-business, person-to-person, person-to-business and vice versa,” said Corporate One EVP, Enterprise Solutions Development Keith Riddle in another statement. “We intend to collaboratively engage with a diverse group of credit unions over the next three months to test in D+H’s cloud-based sandbox environment and secure credit union-based feedback on vetted test use cases to determine what our offerings may be once real-time capabilities arrive in the United States later this year.”
The partnership between D+H and Corporate One follows D+H's own partnership with the Clearing House, launched last year, to enable the testing of real-time payments.