ABNB FCU’s Instant Payments Breakthrough: Sending is a Game-Changer for Members

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Payments Nerds

The Clearing House

55 episodes

1 week ago

We are proud to be payments nerds – we love sharing perspectives on all things payments. The Payments Nerds podcast features expert guests who explore the most important issues, topics and trends to consider in payments today. If you are a payments nerd too, or are a little bit curious about what’s going on the payments world, just download the “Payments Nerds” podcast from The Clearing House.

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ABNB FCU’s Instant Payments Breakthrough: Sending is a Game-Changer for Members

Payments Nerds

50 minutes

8 months ago

ABNB FCU’s Instant Payments Breakthrough: Sending is a Game-Changer for Members

ABNB Federal Credit Union took a bold step by adding sending capabilities for instant payments in November 2024. The goal? To empower members with seamless money movement 24/7, even during banking holidays. The early results exceeded expectations – 2,300 transactions and over $1.1 million sent in just two months, with an average transaction size of nearly $700. In this podcast, Cassandra Tucker, director of operations at ABNB, discusses how the Virginia-based credit union developed its business case and technology, including implementing multi-layered fraud mitigation tools, to bring instant payment send capabilities to all of its members – proving that smaller financial institutions can be leaders with instant payments.

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Payments Nerds is brought to you by The Clearing House, hosted by Greg MacSweeney, and produced by Earfluence.