TAB Bank, a full-service digital bank that services SME customers based in the U.S., announced on Wednesday it has teamed up with cloud payments and financial messaging provider Volante Technology to help provide real-time payments over the RTP network to its digital customer base.
Through the integration, TAB Bank will implement Volante U.S. Real-time Payments as a Service, which is an end-to-end solution for the entire real-time payment processing lifecycle, from initiation through to clearing and settlement connectivity, managed as a service in the cloud. While sharing more details about the partnership, Michael Palmer, Chief Operating Officer of TAB Bank, stated:
“At TAB Bank, we are completely obsessed with making our clients happy and watching them succeed. That’s our story. Therefore, we are constantly working to ensure that our solutions meet the needs of the ever-changing payment landscape. We want to partner with industry innovators and experts. Volante checks these boxes. More so, with Volante we can ride the real-time payments wave and be an early adopter without any of the technical hurdles associated with launching a real-time payments offering,”
TAB Bank went on to add that through the RTP network from The Clearing House, the banking group’s clients will be able to receive funds instantly. The company also plans to add the ability to send real-time payments in the near future. In the longer run, the bank will further explore utilizing its open banking platform to employ real-time payments in a variety of creative ways for its customers.
Founded in 1998, TAB Bank customizes solutions to serve the needs of small- and medium-sized commercial businesses across the U.S.
“With lasting commitment, we provide working capital solutions, equipment financing and deposit products during all stages of our customers’ business life cycle in any economic environment.”