Connexus Credit Union partners Alacriti for real-time payments

Connexus Credit Union is modernizing its payment infrastructure by adopting real-time payment (RTP) capabilities through both the FedNow Service and the RTP network. By partnering with Alacriti, the credit union can now facilitate instant movement of funds. For retailers and service providers who work with Connexus, this marks a shift toward immediate transaction settlement rather than waiting days for traditional ACH transfers to clear. This technology is particularly impactful for the consumer financing landscape. When a lender can move money instantly, the 'funding clock' for a merchant shrinks significantly. Instead of processing storefront loans and waiting for a batch settlement, real-time rails allow for the possibility of instant merchant funding upon contract signing. For your customers, this means faster loan approvals and immediate access to funds, which reduces friction at the point of sale. As more credit unions follow this lead, the industry standard for 'fast' is moving from 24 hours to zero seconds.

Source: Finextra — Lending

← Return to the library· Submit a correction