Resources
Faster Payments
Value Statement:
VolCorp’s instant payments solution combines a full-service product, a unified platform, and decades of digital payments experience.
Benefits:
Payments are a core competency and a strategic priority for VolCorp. So much so that it is a part of our Vision:
Inspiring credit unions to reach new heights by providing dynamic payment solutions, custom investment solutions, and unparalleled member service.
VolCorp’s experience offering and implementing payment solutions spans decades and includes a wide range of payment networks like ACH, Wires, Checks, Cash, and now Instant Payments. Over time, we have meticulously developed efficient internal processes, required policies and procedures, regulatory rigor, and the expertise to seamlessly implement and support payment systems for credit unions. VolCorp’s newest payments service, FedNow, is a full-service solution that includes all the required FedNow functionality including a unified platform, core integration, settlement, liquidity management, FRB onboarding, daily support, and education. With VolCorp, there is no need for additional relationships to fully implement FedNow as in the case of other third-party service providers.
Faster Payments:
FedNow:
- Go to FedNow Explorer
- FedNow FAQs
- FedNow Product Sheet
- FedNow Readiness Guide
- FedNow Readiness Roadmap
RTP:
About the FedNow Service
The FedNow Service is a new instant payment service that the Federal Reserve Banks are developing to enable financial institutions of every size, and in every community across the U.S., to provide safe and efficient instant payment services in real time, around the clock, every day of the year. Through financial institutions participating in the FedNow Service, businesses and individuals will be able to send and receive instant payments conveniently, and recipients will have full access to funds immediately, giving them greater flexibility to manage their money and make time-sensitive payments. Consistent with the Federal Reserve’s historical role of providing payment services alongside private-sector providers, the FedNow Service will provide choice in the market for clearing and settling instant payments as well as promote resiliency through redundancy. Financial institutions and their service providers will be able to use the service as a springboard to provide innovative instant payment services to customers.
About the RTP® network
The RTP network gives the financial industry a modern platform for domestic payments, complete with rich data capabilities and immediate payment confirmation. The system enables instantaneous settlement and availability to payment recipients, so those funds can be used or withdrawn as cash within seconds. The RTP network currently reaches 61% of U.S. demand deposit accounts and all federally insured depository institutions, regardless of size, can join the network. More than 270 financial institutions use the RTP network, with more joining each week.
Watch Video
Welcome to FedNow Explorer (video)
