COLUMBUS, Ohio–Corporate One Federal Credit Union said it is partnering with Payveris, the Cromwell, Conn.-based provider of digital payments and money movement technology, to lead its more than 820 members credit unions toward continued digital payments innovation and faster payments. Corporate One supports credit unions representing 17.5 million members in 44 states.
In addition to adopting the Payveris MoveMoney platform, Corporate One said it will also resell Payveris services, including best-in-breed bill pay, bill management, account-to-account and person-to-person money movement services.
“Corporate One is at the top of wholesale credit unions for its progressive strategy to guide and support its member organizations’ payments evolution, ensuring they have the education, tools and technology to keep and attract members,” says Ron Bergamesca, Payveris CEO, in a statement. “We know Corporate One thoroughly explored its partnership options, so it’s especially gratifying that they chose Payveris’ technology to enable execution of their payments strategy.”
“Payveris aligns 100% with strategic imperatives we outlined for digital solutions,” adds Corporate One FCU President/CEO Lee Butke in a statement. “We share a ‘put members first’ approach, which emphasizes the need for simplistic yet high-value user experiences that we were hard pressed to find elsewhere. Most importantly, we share a commitment to investing in and offering solutions that effectively position credit unions for the pivot to faster, real-time payments.”
According to Corporate One, the open architecture of the Payveris MoveMoney platform, along with the broad range of innovative payments services it supports, will empower Corporate One’s members to differentiate themselves from competitors by adapting quickly to the rapidly changing payments environment to provide solutions that meet the needs and growing sophistication of their memberships.
“Today’s consumers are incredibly savvy regarding their financial services choices, creating an environment in which credit union members have distributed their business across a variety of providers, including other credit unions, big banks and nonbanks,” comments Corporate One Executive Vice President Keith Riddle. “Our goal is to help credit unions by offering solutions that give them the competitive advantage to win the loyalty of current members—including a larger share of their financial business—and attract new members, especially digital natives.”
Riddle said the Payveris BillManager application is an example of how credit unions can deepen loyalty and keep their institutions relevant to members. “Biller-direct models have diverted members’ focus away from their credit unions as the center of their financial universe,” he says. “Payveris BillManager resets the value proposition, so credit unions can win back members with a comprehensive solution that enables them to manage all their bills from their credit union’s website or app, and to pay their bills any way they choose, including by card. It’s a real competitive differentiator.”
“The Payveris MoveMoney platform also futureproofs Corporate One’s member organizations’ operational and IT investments by providing a single payments gateway that puts them in control of their payments operations today and in the future,” added Bergamesca. “This one platform enables all types of payments through any device or application, so Corporate One members can introduce innovative products that win and retain members.”
Starting immediately, Corporate One said it will introduce the Payveris MoveMoney platform, along with A2A, P2P and bill pay, to its credit unions.