Financial services
Instant Payments
Led by our long-standing service to the credit unions we serve, united with a relentless fervor for what lies ahead, VolCorp is committed to offering our members the most comprehensive range of payment services available: ACH, Wires, Checks, Cash, and now the very latest in Instant Payments technology with FedNow and RTP. Combining a full-service product and a unified platform, VolCorp’s newest instant payments services include:• Send, Receive, and Settlement
• Single, centralized environment
• Open API: Third Party Onboarding Integration
• Liquidity management features
• FRB, TCH, and 3rd Party onboarding
• Ongoing support and education
Payments are a core competency and a strategic priority for VolCorp; so much so that it’s a key part of our ongoing strategic vision. VolCorp recognizes that instant payments technology is directly correlated with the evolving expectations of members and the broader financial ecosystem, where speed, security, and convenience are essential. At the same time as we’ve pursued the latest in state-of-the-art payment technologies, VolCorp has developed the necessary infrastructure – including efficient internal processes, required policies and procedures, regulatory rigor, and expertise – to seamlessly implement and support these solutions for your credit union.
Additional Features:
• Real-time & seamless end-to-end processing
• Always-on availability (24/7/365)
• Built-in risk management features
• Liquidity management features
• Seamless integration
• Future-ready innovation
About the FedNow Service
The FedNow Service is an instant payments infrastructure developed by the Federal Reserve that allows eligible depository institutions of different sizes across the U.S. to provide instant payment services. Through financial institutions participating in the FedNow Service, businesses and individuals can send and receive instant payments in real time, around the clock, every day of the year. Financial institutions and their service providers can use the service to provide innovative instant payment services to customers, and recipients will have full access to funds immediately, allowing for greater financial flexibility when making time-sensitive payments.
About the RTP® network
The RTP® network from The Clearing House is a real-time payments platform that all federally insured U.S. depository institutions are eligible to use for payments innovation. With mobile technology and digital commerce driving the need for safer and faster payments in the U.S., financial institutions of all sizes can take advantage of the RTP network’s capabilities to create or enhance digital services for their corporate and retail customers. As the volume of the RTP network continues to grow, so has the number of financial institutions that have joined the RTP network.