SEATTLE--(BUSINESS WIRE)--Today we are pleased to announce that Sound Credit Union (Sound), a leading credit union in Washington state, has partnered with ModusBox to support integration of Zelle®, a premier P2P network for financial institutions.
The credit union has chosen to integrate using the PortX Payment Manager solution from ModusBox - a Seattle-based payment and core banking integration software company. PortX Payment Manager connects to the banking core and provides components for institutions to move from batch processing to real-time payments that support networks like Zelle. For Sound, Payment Manager will allow the credit union to rapidly connect to Zelle.
“We built Payment Manager as an affordable solution that creates rapid time-to-market and gets Zelle into the hands of Sound’s members,” said David Wexler, CEO. “Once implemented, we believe this will dramatically improve their members' overall user experience overnight.”
PortX Payment Manager Benefits include:
- All-in-one solution to connect to payment networks like Zelle
- Drop-in suite of simple and reusable APIs that instantly integrate payment channels into your banking core
- End-to-end transaction monitoring
- Browser-based configuration and management
- Real-time fraud monitoring with configurable scoring, alerting, and integrations to existing case management solutions
- Ledger that supports same-day settlement and automatic reconciliation in real-time
- Intuitive management portal that simplifies the setup process for creating new connections
- Scalable solution that supports connectivity to multiple payment networks including Zelle, SWIFT, Fedwire, and ACH
- Operates on the PortX Integration Platform
“We are excited to partner with Sound,” said Wexler. “This work will demonstrate how other community financial institutions can digitize their payment solutions and rapidly deliver new services to their members. This is especially timely as we see the demand for digital offerings rapidly increase as a result of the pandemic.”
For more information about PortX Payment Manager, visit modusbox.com/payment-manager.
About Sound Credit Union
Sound Credit Union was founded in 1940 and today is one of Washington State’s largest credit unions. With 28 full-service branch locations throughout the Puget Sound area, Sound provides their 135,000 members with authentic and trusted financial support and services. Sound is driven by the purpose of standing with members, employees, and the community through all waves of life.
About Zelle®
Brought to you by Early Warning Services, LLC, an innovator in payment and risk management solutions, Zelle makes it fast, safe and easy for money to move. The Zelle Network® connects financial institutions of all sizes, enabling consumers and businesses to send fast digital payments to people they know and trust with a bank account in the U.S. Funds are available directly in bank accounts generally within minutes when the recipient is already enrolled with Zelle. To learn more about Zelle and its participating financial institutions, visit www.zellepay.com.
About ModusBox
We build modern, open source software for financial institutions, government regulators, and others taking on the challenges of interoperability and financial inclusion. We help financial institutions connect to real-time payment networks like Zelle®, Mojaloop, and others. Our solutions enable financial institutions to achieve interoperability by integrating their core banking technology with other modern platforms, currencies, and protocols while simultaneously eliminating their dependency on core banking technology providers.
With team members in more than 20 different countries, we’re no stranger to diversity. There is no shortage of individual skills and experiences on our team. And, we celebrate that our uniqueness makes us stronger as we unite on a single mission to accelerate access to reimagined financial services.
All Zelle trademarks used herein, as well as any good will attached thereto, are the exclusive property of Early Warning Services, LLC and are used with permission.
For more information, please visit www.modusbox.com.
