Credit unions are constantly seeking ways to improve operational efficiency and manage liquidity effectively. Real-time payment networks like FedNow and RTP offer significant advantages in these areas, and FLEX provides the technological bridge to access them.
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FLEX + Real-Time Payment Providers: Strategic Integration
FLEX has strategic integrations with the core technology providers that connect Corporate Credit Unions to the FedNow Service and RTP network. These providers offer the necessary infrastructure for real-time payments and include:
-
Alacriti, supporting Corporate One
-
Aptys Solutions, supporting Alloya, Catalyst, Vizo Financial, and Volcorp
-
Pidgin, supporting Corporate America
These partnerships ensure that credit unions using FLEX can access modern payment rails through their corporate credit union relationships.
Aptys Solutions & PayLOGICS: One Platform, Dual Networks
Many of our Corporate CU partners leverage Aptys Solutions' PayLOGICS platform, which supports both FedNow and RTP in a unified environment.
Key Features:
- End-to-end real-time payment services: Send, Receive, and Manager modules
- Settlement & reconciliation automation: Real-time visibility and simplified back-office processes
- Liquidity manager (used by Alloya): Automates liquidity management and transaction posting and improves cash flow control outside business hours.
- API-driven connectivity: Seamless integration with the FLEX platform
FedNow vs. RTP: What Credit Unions Should Know
While both FedNow and RTP offer real-time payments 24/7, they differ in some important ways:
|
Feature |
FedNow |
RTP |
|---|---|---|
|
Launched |
July 2023 |
November 2017 |
|
Managed by |
Federal Reserve |
The Clearing House |
|
Max Transaction Limit |
$100,000–$500,000 |
$1,000,000 |
|
Interoperability |
Not interoperable with RTP |
Not interoperable with FedNow |
Operational Benefits of Connecting Through FLEX
Connecting to FedNow or RTP through a service provider like those FLEX integrates with can provide significant operational benefits for your credit union.
Real-time processing can reduce issues associated with wires and ACH, leading to better back-office efficiency.
Enhanced liquidity management is a key benefit, with the ability to manage funds outside traditional business hours.
While not mandatory, using a funding agent (like those offered by some of our integrated partners) can offer...
- 24/7/365 processing
- Streamlined settlement
- Consolidated reporting
- Potentially reduced pre-funding requirements
Participation Options and Considerations
Joining FedNow isn’t compulsory for credit unions, but as more institutions sign on, being connected becomes a competitive advantage. You have two primary paths:
- Receive Only: Perfect if you just want instant credit. Incoming funds post immediately, boosting member satisfaction without adding complexity to your systems or processes.
- Send and Receive: If outbound payments—and the full control that comes with them—are important to you, this option unlocks send capability too. You’ll invest a bit more in fraud monitoring and security, but you gain the power to originate instant payments from your credit union.
Whichever route you choose, FLEX makes it seamless. Because we’ve already built the connections through your Corporate Credit Union, there’s no heavy lift on your end—just the choice of which capabilities best fit your strategic goals.
Take the Next Step with FLEX
Your FLEX platform and Corporate CU already form a powerful combination. Leverage our existing integrations to explore the benefits of FedNow and RTP.
Ready to learn more?
Download our FedNow & RTP Integration eGuide to see how FLEX and our integrated provider network make it easy for credit unions to access instant payments through their Corporate Credit Union relationships.
