FIS, The Clearing House bring real-time payments to US financial institutions

Monday 28 September 2020 13:46 CET | News

FIS, a US-based financial services provider, has teamed up with The Clearing House to bring real-time payment processing (RTP) and settlement to small-to-mid-sized banks and credit unions along with their customers.

The financial software provider assists financial institutions to connect to the RTP network, the real-time payment system in the US provided by The Clearing House. This system provides instant settlement of payments and availability of funds for participating banks and their customers.

According to the press release from FIS published on IBS Intelligence, the new managed service will be offered to the targeted customers using its core banking systems. The service connects financial institutions to the RTP network from The Clearing House, enabling them to initiate and receive real-time payment transactions.

FIS stated that Nano Banc and First Bank are amongst the first core banking clients to initiate real-time payments through the new managed service.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: FIS, The Clearing House, real-time payments, banks, fintechs, RTP network, US, core banking systems, financial software
Categories: Banking & Fintech
Countries: United States
This article is part of category

Banking & Fintech