Bridgewater-based Alacriti, an innovator in cloud-based payments and money movement services, on Thursday said that it will partner with Navy Federal Credit Union as the platform provider for Navy Federal to enable real-time payments over the Clearing House’s real-time payments network.
Navy Federal has deployed Alacriti’s cloud-native, ISO 20022-based Orbipay Payments Hub, a Payment-as-a-Service solution that’s cloud-based and integrates with many banking cores.
Orbipay Payments Hub supports real-time payments on the RTP network, ACH, FedNow Service, Visa Direct and Fedwire payments, giving Navy Federal a scalable, future-proof platform for payments innovation. By leveraging Orbipay Payments Hub, Navy Federal is able to deliver the convenience of receiving funds anytime — instantly.
“By gaining access to TCH’s RTP network through our payments hub, Navy Federal is able to offer a top-notch member experience and drive operational savings,” Keith Gray, vice president, the Clearing House, said.
“We are thrilled that Navy Federal Credit Union has joined the RTP Network. Alacriti has been a provider of connectivity to the RTP network from the beginning and will be able to support Navy Federal as it offers innovative real-time payments products to its over 13 million members.”