ATLANTA--(BUSINESS WIRE)--Pidgin, a secure real-time payments platform built for the future of payments, has partnered with Modern Banking Systems, a leading provider of core bank processing solutions, to enable more community financial institutions to offer real-time payments to their account holders.
Modern Banking Systems (MBS) provides flexible, real-time core processing solutions designed specifically for community banks. Through the partnership, MBS’s core solutions and digital banking software will integrate with Pidgin’s faster payments platform to support real-time transaction processing via multiple payment rails, including the FedNow® Service and The Clearing House’s Real-Time Payments Network. Pidgin’s integration partnership with MBS will equip more community banks with the technologies and connections required to facilitate real-time payments for their account holders.
“At Modern Banking Systems, we understand that each community bank is unique and has its own set of goals, challenges and opportunities to grow. We are continuously looking for ways to help banks get more from their core solution to meet those goals and maximize opportunities for growth,” said Michael Cronin, CEO of Modern Banking Systems. “Instant payments are gaining traction among consumers and businesses across the U.S. and by partnering with Pidgin, we can provide our clients with the tools they need to give their customers the payment options they now expect.”
Pidgin is designed to help banks of all sizes embrace faster payments now and in the future, on their terms. Pidgin serves as a central connection point to the FedNow Service and other faster payment networks, allowing financial institutions to easily deliver instant payment options to their customers for a variety of use cases. The platform facilitates the exchange of data between a bank’s core processing system, such as MBS Essentia, any relevant third-party apps, including digital banking platforms, as well as the bank’s staff and account holders, and payment networks to route and process payments.
“Financial institutions need a modern, flexible and scalable core system that will make it easy to roll out new payment offerings, like the newly launched FedNow Service,” said Abhishek Veeraghanta, founder and CEO of Pidgin. “By integrating Pidgin’s payments platform with Modern Banking Systems’ industry-leading core solutions, more community banks, regardless of size, can offer faster payments to their retail and business customers. We are proud to partner with such a reputable organization like Modern Banking Systems and we look forward to expanding access to real-time payments in the U.S.”
About Modern Banking Systems
Modern Banking Systems (MBS) is a leader in core bank processing software, solutions, and technology innovation. MBS, along with its parent company, Interstate Business Equipment, Inc. (IBE), supports community bank core installations throughout the country in banks ranging from $8 million in assets to over $2 billion in assets. With more than 60 years of service history, MBS continues to be independent, and to build the business based on providing a total solution and strong partnership with its clients.
About Pidgin
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. For more information, please visit www.pidgin.net or follow them on Twitter @PidginPayments and LinkedIn.
