The collaboration is set to see Pidgin’s secure real-time payments platform integrated into VSoft’s core processing platform, Wings, and its digital banking platform, Arya in a bid to pursue real-time innovation in the sector.
Pidgin’s faster payments platform includes a powerful administration portal, intuitive front-end applications, and developer-friendly APIs.
The payments platform facilitates the exchange of data between a bank’s core processing system, such as Wings, any relevant third-party apps, including digital banking platforms, as well as the bank’s staff and account holders, and payment networks to route and process payments.
Murthy Veeraghanta, chairman and CEO of VSoft, said: “Enabling real-time transaction processing is more important than ever for today’s financial institutions, especially as instant payments go mainstream following the launch of the FedNow Service.
“To support a variety of faster payment options for their account holders, financial institutions need a modern, flexible core system that will make it easy to roll out new payment offerings.
“Through our integration with Pidgin, we can empower more financial institutions to pursue real-time payments innovation, and we look forward to what’s to come.”
By integrating with Pidgin, Wings can facilitate real-time transaction processing via multiple payment rails, including the Federal Reserve’s recently launched FedNow Service and The Clearing House’s Real-Time Payments Network.
In addition to Wings, VSoft’s Arya digital banking platform also integrates with Pidgin’s real-time payments solution.
Arya enables financial institutions to provide a consistent and frictionless user experience that packages online banking, mobile banking and mobile deposit into a single code-based application for both retail and business account holders.
Through the integration with Pidgin, financial institutions using Arya can easily deliver instant payment options via online and mobile banking channels to their customers for a variety of use cases.
Abhishek Veeraghanta, founder and CEO of Pidgin, said: “Consumers and businesses alike have shown an appetite for real-time payment options from their financial institutions. According to PYMNTS.com, four in five Americans are interested in faster payment options when paying for goods and services.
“Pidgin’s API architecture makes the integration of our faster payments platform with financial institutions’ preferred technology providers, like VSoft, easy.
“By integrating Pidgin’s instant payments platform with VSoft’s industry-leading core and digital banking solutions, we are excited to support a growing number of financial institutions as they embark on their faster payments journey.”
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