ICBA Payments, the payments subsidiary of the Independent Community Bankers of America (ICBA), has announced a new partnership with Pidgin to facilitate instant payments for the nation’s community banks.
ICBA Senior Vice President, Head of Product and Strategy Nick Denning said: “The demand for faster payments continues to grow. While many community banks are connected to the FedNow network, most are still in a receive-only capacity. Pidgin’s proven track record and ThinkTECH Accelerator alumnus status make them an ideal partner for helping community banks accelerate the adoption of instant payments and enhance service delivery to their customers and communities.”
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By GlobalDataPidgin is a secure fast payments platform that serves as a single solution to send and receive faster payments directly from customer accounts with payments routed directly between financial institutions. The company’s technology serves as a connection point to the FedNow Service and other faster payment networks, enabling community banks to easily deliver instant payment options to their customers for a variety of use cases.
The platform eliminates the need to use a holding account by a third-party provider or a virtual wallet, allowing Pidgin to facilitate a safer transaction
Abhishek Veeraghanta, founder and CEO of Pidgin, commented: “ICBA Payments has long been committed to serving community banks as they navigate the ever-changing payments landscape. We are proud to partner with such an esteemed organisation and look forward to what we can accomplish together to supercharge real-time payments adoption and help community banks remain responsive and competitive in today’s fast-paced market.”
Pidgin continues to gain traction in the community banking space, having partnered with Community Bankers’ Bank, Exchange Bank, US Century Bank and several others in the last year. In addition to its rapidly growing client base, Pidgin was also selected to participate in the ICBA ThinkTECH Accelerator program, which has connected fintech companies in the world with more than 1,400 community bankers.
