Digital banking services provider Tyfone has partnered with Star One Credit Union to implement an instant payment solution certified for FedNowSM, the Federal Reserve’s new instant payment offering. The platform-agnostic solution integrates with financial institutions’ core processing systems and connects to payment originators and digital banking providers through Tyfone’s open APIs.

Facts

• Tyfone has partnered with Star One Credit Union to implement an instant payment solution.
• The instant payment solution is certified for FedNowSM, the Federal Reserve’s new instant payment offering launching in July 2023.
• The solution can integrate into financial institutions’ core processing systems and connect to payment originators and digital banking providers through Tyfone’s open APIs.
• Through the FedNow Service, account holders can send and receive payments any time, any day, anywhere, and have immediate access to the funds.
• Financial institutions of all sizes can directly connect to the FedNow Service for credit transfer send and receive message sets using the latest solution.
• Star One Credit Union, one of Silicon Valley’s largest financial institutions, manages over $10.2 billion in assets and provides financial services to nearby counties’ residents.
• Tyfone, based in Portland, offers consumer and commercial digital banking services for community financial institutions across the United States.