The World’s Largest Credit Union Leverages Orbipay Payments Hub
Navy Federal Credit Union, the world’s largest credit union, with $166 billion in assets and more than 13,000,000 members, has partnered with Alacriti, an innovator in cloud-based payments and money movement services, as the platform provider for Navy Federal to enable real-time payments over The Clearing House’s (TCH) RTP® network.
Navy Federal has deployed Alacriti’s cloud-native, ISO 20022-based Orbipay Payments Hub, a payment-as-a-service solution that’s cloud-based and integrates with many banking cores. Orbipay Payments Hub supports real-time payments on the RTP network, ACH, FedNow® Service, Visa Direct, and Fedwire payments, giving Navy Federal a scalable, future-proof platform for payments innovation. By leveraging Orbipay Payments Hub, Navy Federal is able to deliver the convenience of receiving funds anytime—instantly.
“We are thrilled that Navy Federal Credit Union has joined the RTP Network. Alacriti has been a provider of connectivity to the RTP network from the beginning and will be able to support Navy Federal as it offers innovative real-time payments products to its over 13 million members,” said Keith Gray, Vice President, The Clearing House.
“We are honored to partner with Navy Federal and help them deliver innovative, instant money movement experiences to their members. By gaining access to TCH’s RTP network through our payments hub, Navy Federal is able to offer a top-notch member experience and drive operational savings,” said Manish Gurukula, Alacriti’s CEO.
About Alacriti
Alacriti is a leading financial technology company with a comprehensive money movement and payments services platform dedicated to helping clients accelerate their digital transformation. Built on a flexible, cloud-native framework, Alacriti’s array of solutions allows clients to deliver the money movement experiences and payments innovation that today’s users demand while seamlessly integrating with their internal infrastructures.
