Corporate One Federal Credit Union has purchased Fundtech’s CASHplus and PAYplus-ACH in order to provide its nearly 800 members with an easy-to-use automated clearing house (ACH) payment system. Corporate One will be replacing the APEX-ACH platform offered through US Central Federal Credit Union (the wholesale provider of financial services to the corporate network) with a solution that will offer several enhancements, and have pricing that is more favourable to its members.
Robert Coyan, Corporate One’s senior vice president (SVP) of operations, said: “After extensive vendor research, we are very pleased to announce the selection of Fundtech as our new ACH system provider. Fundtech offers a user-friendly, best-in-class solution that will provide our members many benefits above and beyond the APEX-ACH system. Important enhancements include: outstanding risk mitigation and monitoring capabilities; and for those originating ACH transactions, a very robust user interface allowing our members to more easily add select employee groups.”
Corporate One will soon begin the process of working with its members to transition them to the new ACH platform. With regards to a previous announcement from US Central, US Central is poised to institute price increases on the APEX-ACH system beginning 30 June 2012 and Corporate One expects to have all members transitioned by that time.
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