CROMWELL, Conn., December 11, 2018: Corelation, the innovative core processor for today’s credit union, announced a strategic partnership with Payveris LLC, the fastest-growing provider of highly-secure intelligent digital money movement technology to financial institutions. Payveris is the first digital payments and money movement company to participate in Corelation’s Certified Partner program.
Corelation, based out of San Diego, CA, is a market leader best known for creating an innovative open-API core system, and for providing unparalleled service to their clients. Their person-centric system empowers credit unions to offer the best member service possible, thereby enhancing value and enabling the credit union to attract, engage and retain members.
Payveris, based out of Cromwell, CT is a market leading open-API cloud-based money movement platform that enables financial institutions to simplify their digital payments infrastructure to deliver innovative money movement experiences while significantly reducing operating costs. The platform empowers FIs to deliver a mix of micro-services and applications such as bill payment and presentment, P2P and A2A transfers, presenting them all cohesively via one intuitive money movement screen, thereby dramatically lowering friction to the user experience. Consumers simply choose the recipient (a biller, a person, or an account at another FI), the funding source, the dollar amount, and the date for delivery (today or in the future), while the platform intelligently routes payments across the most cost-effective payment rail, including the financial institution’s own “on-us” rails. This is a significant improvement to the cumbersome user experience that most consumers presently receive from the legacy digital banking and payment providers, which requires the consumer to navigate between bill payment, P2P, internal transfer and external transfer screens to execute money movement.
“Our clients recognize the value in delivering the best digital experience possible for their members, and they are investing in the right technology to get there,” said Theresa Benavidez, president & CEO, Corelation. “We’re excited to have Payveris as our newest Certified Partner and look for them to deliver a broad range of innovative capabilities to our client base, and the industry as a whole.”
“This partnership is exciting and a natural fit. The technology that Corelation and Payveris delivers is much more advanced than what SafeAmerica had previously used. Our members transitioned smoothly through the conversion, and they adopted quickly, which was a huge relief for my team. We’re very happy to be doing business with both of these innovative fintech vendors,” shared Steven Page, vice president of IT, marketing and digital banking, SafeAmerica Credit Union.
“This is a very progressive and innovative partnership. It is an honor to be chosen by Corelation to deliver industry-leading money movement technology to help their clients realize the benefits of utilizing a modern, cloud-based platform approach to operating digital payment and money movement,” added Ron Bergamesca, chief executive officer, Payveris.
Key benefits of the Corelation and Payveris partnership to credit unions:
- Tighter integration between the Corelation and Payveris platforms deliver total control of a simplified, unique and differentiated money movement user experience
- Costs are reduced and operating efficiencies are improved by consolidating all money movement onto one modern cloud-based platform, eliminating multiple rigid, costly and dated technologies
- Reduced fraud losses by enabling credit unions to identify and stop potentially fraudulent transactions before they leave the institution
- Elimination of funding risk and inconsistent user experiences inherent in legacy risk-funding models
- Virtually no downtime, unlimited scalability and complete operating redundancy
Payveris is the creator of The MoveMoney Platform, an Open API cloud-based platform enabling FIs to control, simplify + extend digital money movement capabilities to any application/device while lowering user experience friction, significantly reducing operating costs & future-proofing the IT investment. Shift from a product-centric digital payments model to a platform-centric model today! Visit www.payveris.com to learn more.
Based in San Diego, CA, Corelation is the innovative core processor for today’s credit union. This solution is a person-centric system that empowers credit unions to offer the best member service possible, enhancing their value for member attraction and retention. In terms of industry experience, Corelation’s staff has dedicated their careers to creating core systems and providing unparalleled client service. For more information, visit www.corelationinc.com
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