CORE BANKING, FINTECH
Pacific Service Credit Union and Lumin Digital | January 20, 2023
On January 19, 2023, Lumin Digital announced that it established a multi-year agreement with Pacific Service Credit Union (Pacific Service CU) in California to promote an improved online banking experience for the latter's almost 70,000 members and assets worth over $1 billion.
Lumin's cloud-based online and mobile digital banking platform, set to launch in October, will provide better safety, security features, and seamless digital integration. This would help Pacific Service CU develop tailored experiences by providing personalized suggestions such as spending insights, financial guidance, savings goals, and fraud warnings.
Michelle Shelor, Chief Operating Officer of Pacific Service Credit Union, stated, "At Pacific Service CU, we've built a strong reputation for providing world-class products and services for our members." Michelle continued, "Our partnership with Lumin Digital will greatly improve the user experience and back-end processes. We are excited to bring this new technology to our members."
(Source – Cision PR Newswire)
Lisa Daniels, Lumin Digital's Chief Delivery Officer, indicated that Pacific Service CU's members would benefit from the cooperation. In a recent digital-banking analysis from The Financial Brand, U.S. financial leaders foresee four themes for 2023, all of which are Lumin's focus - digital transformation, boosting data and analytics, streamlining the customer journey, and extending digital product and payment capabilities.
"Addressing these critical areas hasn't always led to predictable outcomes for financial institutions in the past," Lisa Daniels said. "Lumin's thoughtful approach, experienced implementation teams, and innovative technology stack simplify this process greatly - providing Pacific Service CU with the confidence, security, and engagement they deserve from their digital partner," she concluded.
(Source – Cision PR Newswire)
About Lumin Digital
Lumin Digital, a majority-owned subsidiary of a PSCU, provides a cloud-native platform that redefines digital banking for financial institutions. The platform offers a complete and modern integrated suite of capabilities based on the industry's most sophisticated technology and best practices. In addition, through a patented engagement model that enables highly focused, actionable, and distinctive digital interactions, organizations will be able to create excellent user experiences across platforms, enabling more personalized journeys and connected relationships.
About Pacific Service Credit Union
Pacific Service Credit Union, headquartered in Concord (California), is a full-service financial institution. The company, recognized as a Bay Area Top Workplace from 2019 to 2022, has a talented, cohesive leadership team with an average of over 11 years of service. Meanwhile, San Francisco Business Times has also recognized its corporate generosity over the years, placing it in an elite group of businesses that give away more than 2% of its annual profits.
SUNRATE | January 17, 2023
SUNRATE, a leading global fintech firm, announced today that it has successfully integrated Mastercard Cross-Border Services into its intelligent global payment and treasury management platform thereby, enhancing its customers' worldwide cross-border payment capabilities.
Mastercard Cross-Border Services integration is the latest expansion of the two firms' ongoing global partnership. In 2020, SUNRATE secured the Mastercard principal membership, providing the company with direct access to Mastercard's leading global payments network and resources.
Mastercard Cross-Border Services facilitates businesses to send and receive money safely and confidently through a single, secure point of access. SUNRATE's successful integration implies that its clients can send money to five designated Asian nations, including the Philippines, Thailand, Malaysia, Vietnam, and China.
SUNRATE Head of Product, Qincheng Wang, stated, "We have a vision for SUNRATE to be the go-to B2B payment and treasury management platform, especially for emerging markets. As such, the flexibility brought about by Mastercard Cross-Border Services, such as the capability to make cross-border payments to the most popular and emerging markets worldwide is something that our customers are very excited about. Our collaboration with Mastercard will allow our customers to focus on what is more important in their scaling journey, such as localization efforts and potentially establishing new revenue streams for their businesses."
(Source – PR Newswire)
"Mastercard is pleased to further its collaboration with SUNRATE via its Cross Border Services solution, enriching SUNRATE's remittance service in a faster, safer, more transparent and cost-effective way. Mastercard Cross Border Services reaches over 100 markets and 90% of the world's population and this partnership will continue to expand in hopes of enhancing the cross-border service for businesses," said Helena Chen, Managing Director, Hong Kong and Macau, Mastercard.
(Source – PR Newswire)
Founded in 2016, SUNRATE is a global payment and treasury management platform for enterprises worldwide. It has been recognized as a leading solutions provider, enabling companies in over 130 countries to accelerate local as well as global growth through its cutting-edge proprietary platform, broad global network, and robust APIs. Headquartered in Singapore and offices in Indonesia, the United Kingdom, Japan, and China, SUNRATE collaborates with the world's leading financial institutions, including Standard Chartered, Citibank, and Barclays, and is a Mastercard and Visa principal member.
Volante Technologies | January 19, 2023
Volante Technologies, one of the world's leading providers of cloud payments and financial messaging solutions to promote digital transformation, has been named Best Wholesale Payment Solutions Provider at the Global Brands Awards 2022.
In addition to supporting today's most complex payment operations at scale, Volante's real-time, multi-rail, ISO 20022-fluent payments-as-a-service (PaaS) boasts superior security and minimal risk. Volante's PaaS is built on cloud-native microservices architecture, which lowers the total cost of ownership by 40%, makes it easier to create services with added value, allows API-based innovation on top of real-time processing, and speeds up onboarding by 60%.
A growing number of industries recognize the benefits of PaaS. Clients can connect to new global markets and services in record time using Volante's solutions. The company's extensive pool of services makes it possible for customers to integrate quickly.
Vijay Oddiraju, CEO, Volante Technologies, expressed, "This award provides yet further recognition of Volante's hard-won status as a global leader in payments and a provider of cloud-native solutions that power entire economies. In 2023, we will continue to expand our product set, delivering innovative solutions to our clients so that they have the flexibility to adapt and the freedom to evolve and innovate at record speed."
About Volante Technologies
Volante Technologies is a global pioneer in digital transformation, cloud payments, and financial messaging solutions. The firm is trusted by over 100 banks, financial institutions, market infrastructures, clearing houses, and corporate treasuries in almost 35 countries. Its technology is used by four of the top five corporate banks, 40% of commercial bank deposits in the United States, and 70% of global card transactions.