Bankers' Bank launches funding agent platform 07 August 2020New York Reporter: Rebecca Delaney
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Bankers' Bank has gone live with a funding agent solution to provide funding and liquidity management services to IncredibleBank on the real-time payments (RTP) network developed by The Clearing House.
The correspondent bank, which specialises in banking products for community banks, partnered with consulting firm CGI and payment processor Jack Henry & Associates to launch the funding agent platform to provide innovative payment programmes and solutions.
Bankers' Bank’s solution will allow its community bank clients to more effectively manage their access to the RTP network by removing fund management challenges through reconciliation reporting and monitoring of funding levels.
The platform will also deliver recommendations of available funding based on client activity, as well as removing back-office calculations and initiations of providing additional funds or drawing down funds.
Brad Stamper, president and CEO of Bankers' Bank, commented: “Since our inception, we have been a payments innovator for community banks. Our funding agent solution is the first step in our faster payments strategy to help community banks across the US more quickly join the RTP network for their customers.”
Dave Delgado, senior vice president of US West operations at CGI, added: “CGI takes great pride in what we accomplished with Bankers’ Bank, providing IncredibleBank with an efficient, innovative, easy-to-implement payments platform.”
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