CROMWELL, Conn., April 18, 2018 –  With an impressive list of strategic partnerships and major new- financial institution -client wins, Payveris announces banner growth with 72 FIs signing on in the last 18 months.

As the fastest-growing provider of digital money movement technology to financial institutions, Payveris kicked off 2018 in a very strong position, proving to be a major contender in the digital payments market.

Creator of the innovative MoveMoney Platform, Payveris’ roster of progressive financial institutions includes Bank of Internet, $8.9B in Assets; Ameris Bank, $7.8B in Assets; Liberty Bank, $4.7B in Assets; Provident Credit Union, $2.3B in Assets; Orange County’s Credit Union, $1.56B in Assets; KeyPoint Credit Union, $1.2B in Assets; MAPS Credit Union, $690M in Assets; SafeAmerica Credit Union, $419M in Assets; American 1 Credit Union, $322M in Assets.

“Through a combination of strategic partnerships and direct sales, we have significantly improved our market share,” states Ron Bergamesca, chief executive officer with Payveris. “Financial institutions of all sizes are recognizing the benefits of utilizing a modern cloud-based platform approach to operating digital payment and money movement versus the legacy-approach of running individual payment product silos.”

Payveris’ strategic partnerships include some of the most progressive providers servicing financial institutions including CorporateOne Federal Credit Union, CU Answers, COCC, Bankjoy, FedComp, CMC Flex, Access Softek, Nymbus, and Malauzai.

“Until now, FIs and digital banking providers have been constrained to dated, disparate, siloed digital payment and money movement products offered by their legacy providers,” comments Marcell King, chief operating officer with Payveris. “Through our open-API, cloud-based digital payments hub, we enable FIs and their fintech partners to modernize, control, and simplify the user experience, IT infrastructure, and internal operations while extending digital payments and money movement into a range of payment rails and digital financial services like no one else in the market.”

“With Payveris’ open-API capability, we were able to completely control and seamlessly integrate digital payments and money movement into our homegrown digital banking solution,” shares Tom Graves, chief executive officer with SafeAmerica Credit Union. “We’re also using the API to support FinTech providers who want to extend digital payment services into their consumer finance applications.”

“Because the MoveMoney Platform seamlessly connects into our existing digital banking system, we can deliver a much better member experience for bill pay, A2A and P2P services,” reports Mike Mattone, vice president of public relations and corporate communications with Municipal Credit Union. “And the best part is, this platform helped us significantly simplify the complexity of our operations.”

“SafeAmerica Credit Union members responded favorably almost immediately after we launched Payveris MoveMoney Platform,” adds Graves. “Overall positive member satisfaction is a direct result of the high-success-rate of delivering a seamless conversion.”

“Over the last 24 months, Payveris converted 99.3% of all user, account, payee, scheduled payment, and payment history data across more than 100 FIs and all major bill pay systems,” states Bergamesca. “This is a direct reflection of our sophisticated data conversion technology and our client onboarding team’s domain expertise.”

In addition to person-to-person and account-to-account transfers, consumer and business bill payment solutions, bill presentment and bill management, Payveris’ MoveMoney Platform also supports new account funding with external account validation, integrated fraud management, and soon, real-time payments.

“The hottest topic in digital banking right now is real-time payments. Financial institutions are eager to begin implementing this technology, however, coupling legacy digital payment products with a complex, evolving real-time payments ecosystem is challenging. So FIs are strategically choosing their partners in this space,” comments Marcell. “They want a nimble partner and extensible platform that eliminates the complexity, not adds to it. That’s what Payveris does.“

“Our partnership with Payveris positions us to lead credit unions toward continued digital payments innovation and faster payments,” said Lee Butke, president/chief executive officer with Corporate One Federal Credit Union. “The open, flexible Payveris MoveMoney platform is architected to solve the money movement challenges many credit unions face in today’s fintech-rich marketplace and helps them remain relevant partners in their members’ digital commerce transactions. Best of all, it also facilitates great member experiences and protects credit union IT investments so they can easily introduce, modify and innovate their faster/digital payments as membership needs change and as solutions evolve.”

About Payveris 

As the creator of the cloud-based MoveMoney Platform, Payveris empowers financial institutions to take command of their customers/members’ digital user experience as well as their IT and payments operations, while introducing innovative money movement applications that win and retain business—today and in the future. Its integrated platform, extensible 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.

About Municipal Credit Union

Municipal Credit Union is the oldest credit union in New York State and one of the oldest and largest in the country. Established in 1916 and serving New Yorkers for 101 years, MCU has more than $2.6 billion in assets, branches in the five boroughs of New York City, Long Island and Westchester, an extensive ATM network, and offers a full range of financial products and services to its more than 425,000 members. MCU membership is open to a wide range of employer groups including New York City and Yonkers municipal employees; state and federal employees who work in the five boroughs; health care professionals who work in New York State; employees of private colleges in New York City and private and public colleges in Nassau, Suffolk, and Westchester; students enrolled in a college, university, school, or institution in the City University of New York (CUNY) education system and St. John’s University; members of select industry groups; certain family members, and qualifying retirees. MCU is actively involved with its members and in giving back to the communities in which it serves. It is the official credit union of the NFL's New York Jets and of St. John's University Athletics. It is also the naming rights sponsor of MCU Park in Coney Island, the home of the Mets minor league affiliate Brooklyn Cyclones, where MCU sponsors its annual MCU/Brooklyn Cyclones Youth Baseball/Softball Clinic Series, now in its fourth year. MCU's educational efforts include a scholarship program, home buying seminars, and its Adult and Youth Financially Fit series, which has been awarded the NY Credit Union Association's prestigious Desjardins Financial Education Award for the past two years. MCU is an equal opportunity lender, and deposits are federally insured to at least $250,000 by the National Credit Union Administration (NCUA), a U.S. government agency. For more information about Municipal Credit Union, visit www.nymcu.org

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.

About Corporate One Federal Credit Union

Corporate One Federal Credit Union is a leading wholesale financial services provider to more than 800 of America’s credit unions. With more than $5.3 billion in assets under management, Corporate One offers a full menu of payments, investments and funding solutions to help credit unions grow their bottom line, manage cash effectively through The One Account, streamline member acquisition, and succeed in the digital payments arena. Visit www.corporateone.coop to learn more.

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