Pidgin is a preferred partner with Corelation, and together, the partnership will enable more credit unions to offer real-time payments to their members with Pidgin’s payments ecosystem.
Pidgin offers credit unions a comprehensive solution for smarter, faster, and safer payments. Its technology connects to the FedNow Service and other fast payment networks, enabling instant payment options for various uses. It’s platform integrates data exchange between credit union core systems, third-party apps, and multiple payment networks like the FedNow Service and The Clearing House’s RTP.
With Corelation and Pidgin, credit unions can onboard to the preferred faster payments channels and embrace real-time payments based on their institution’s operational preferences, member needs, and more with efficiency. As real-time payments become more popular, credit unions require infrastructure for 24/7 transaction processing. Focused on credit union innovation since 2009, Corelation's new partnership aids credit unions of all sizes in adopting and scaling this payment method.
Representatives from Pidgin added that credit unions are particularly bullish on real-time payments, as more than one-third plan to implement real-time payments by the end of 2024, according to Cornerstone’s What’s Going On In Banking report. Another 34% plan to implement in 2025 or later. Their partnership with Corelation will help make those plans a reality. They look forward to working with Corelation’s team and empower more credit unions to transform their payment operations.
Corelation is an innovative core processor for credit unions. This solution is a person-centric system that enables credit unions to offer one of the best member services 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 augmented client service.
Pidgin is a new, innovative, and secure faster payments ecosystem, enabling financial institutions, business owners, and individuals to process transactions faster and with lower fees. Engineered to deliver innovation both today and in the future, no matter how payments evolve, Pidgin allows financial institutions to send and receive faster payments almost instantly, but in a more secure way than virtual wallet alternatives. When using Pidgin, money is kept within the financial institution, as opposed to a holding account owned by a fintech provider.
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