CROMWELL, Conn., February 16, 2018 – SafeAmerica Credit Union and Payveris have announced the upgrade of the $400 million Pleasanton-based credit union’s consumer digital money movement services to Payveris’ MoveMoney Platform and suite of solutions including Person-to-Person (P2P), Account-to-Account (A2A), Bill Payment and Presentment, and fraud mitigation.
The platform was implemented by SafeAmerica Credit Union in early February of this year. Payveris, based in Cromwell, CT offers a scalable open API cloud-based money movement platform that enables SafeAmerica to offer bill payment and presentment, P2P and A2A transfers, and integrated fraud monitoring all from a single platform, enabling SafeAmerica to deploy its money movement services to any channel, reduce operating expenses and take command of their member’s digital money movement user experience.
During the implementation of the new solutions for SafeAmerica credit union, Payveris converted virtually all existing bill pay records spanning across all member accounts, payees, scheduled payments, and payment history.
“We followed the guidance of Payveris’ experienced implementations team,” says Tom Graves, the credit union’s CEO. “Utilizing their launch kit, in combination with conversion tools and best practices, we were able to achieve a swift and successful launch.”
“The conversion stats achieved by SafeAmerica are outstanding,” adds Ron Bergamesca, CEO for Payveris. “Together, we were able to successfully convert 98.9% of the bill pay data from SafeAmerica’s previous bill pay provider to our platform helping SafeAmerica to minimize impact on its members and call center operations. It was a classic case study proving conversions can be successful with a proactive financial institution who rolls up their sleeves and collaborates with us to ensure a smooth conversion for their members.”
“The prevailing perception is that conversions are risky,” explains Marcell King, COO for Payveris, “but they don’t have to be. Payveris has developed proprietary technology and algorithms to ensure high quality data conversion rates, and it doesn't matter who your current bill pay provider is.”
“Payveris enabled us to achieve impressive speed to market with minimal development resources,” adds Candy Davis, VP, Operational Risk & Compliance for SafeAmerica. “We truly have the best of both worlds, to offer best-in-breed technology, quickly, and at an attractive cost.”
According to Graves, today’s consumers have a lot of options for digital money movement and it is challenging to win and keep their business. “To be competitive, we must offer the best products available, and that means not being constrained by, rigid, legacy payment technology. After much research and evaluation, we determined that Payveris was the right partner for us, empowering us to simplify, control, and extend our digital money movement solution.”
About Payveris, LLC
Payveris’ cloud-based money movement platform empowers financial institutions to take command of their customers’ digital user experience as well as their IT and payments operations, while introducing innovative products that win and retain members/customers—today and in the future. Its integrated platform, extendable gateway API, and suite of widgets support payment services from any application or device, reduce IT and operations complexity, and future-proof IT investments—all while significantly reducing out-of-pocket expenses. Visit www.payveris.com to learn more.
About SafeAmerica Credit Union
SafeAmerica is a $400 million community-chartered Credit Union, organized under regulatory laws that are monitored and enforced by the California Department of Financial Institutions.
Originally chartered in 1953, SafeAmerica operates in Northern California principally in the San Francisco Bay Area with branches in Pleasanton, Walnut Creek, Antioch and Hayward. SafeAmerica serves the California counties of Alameda, Contra Costa, San Mateo and Santa Clara as well as numerous employer groups including members of Financial Fitness Association.
SafeAmerica member accounts are privately insured up to $500,000 per account by American Share Insurance, the nation's largest private share insurer. Visit www.safeamerica.com to learn more.