With the combination of two platforms, Ultracs and Allied, the alliance aims to provide its customers with the mobile-first experience they expect and to facilitate members’ money-movement needs.
Allied provides payment tools to financial institutions of any size that assist them in acquiring new members and uncovering revenue opportunities. Throughout 2023, Allied has acquired more than 50 new financial institution clients and currently collaborates with almost 500 financial institutions nationwide. In 2022, Allied processed more than USD 3.6 billion in payments, and it anticipates exceeding those figures by the end of 2023.
Allied can integrate multiple modules into its customers' digital banking front-end, making it easy for users to send and receive money according to their preferences. Additionally, Allied's Universal Payments vision provides financial institutions with a comprehensive payment hub for their account holders, covering all aspects of payment processing.
MY CREDIT UNION offers financial solutions that educate and engage its members and communities, which perfectly aligns with Allied's expertise in real-time money movement and their experience in developing flexible and open payment solutions. According to an official statement from the former, Allied is also committed to community-focused initiatives.
Allied Payment Network formed several partnerships with other companies throughout 2023. In May, they partnered with Finovate followed by First Farmers Bank & Trust, and Central Payments in June. In September 2023, they partnered with Commencement Bank and United Community, and in October, they joined hands with marketing firm Murphy & Company.
About MY CREDIT UNION
The company was founded nearly half a century ago, in 1957, and counts for USD 380 million in assets. It specialises in offering educational and empowering financial solutions to drive their members’ success.
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