Kinective, SWIVEL Partner To Speed Real-Time Payments For CUs, Banks
By CU Today Staff —
PHOENIX—Kinective and SWIVEL have entered a core-connectivity partnership aimed at making it faster for banks and credit unions to implement real-time payment capabilities without building custom connections to their core systems.
SWIVEL, a subsidiary of SWBC, will use Kinective Gateway as the connectivity layer for its Connect2Core platform, which posts payment data directly to financial institution cores and provides real-time transaction visibility. The companies said existing Connect2Core clients will not experience interruptions during the transition. The integration is also expected to support real-time money movement through SWIVEL Instant Payments via FedNow and RTP.
“At SWIVEL, we are focused on helping financial institutions deliver modern, seamless payment experiences,” said Amanda Licona-Crocker, president of SWIVEL. “Partnering with Kinective strengthens that mission by expanding connectivity and accelerating access to innovative payment capabilities. Together, we’re helping our clients improve efficiency, support growth and create better experiences for the consumers they serve.”
Kinective said its Gateway has relationships with more than 40 core systems and more than 100 fintechs, potentially allowing SWIVEL to bring its payment capabilities to additional financial institutions more quickly.
"A community financial institution shouldn't need months to stand up real-time payments," said Dan Snyder, executive vice president of product at Kinective. "Data has to move the moment it happens, not on the next batch cycle. Kinective Gateway removes that barrier for SWIVEL's clients now, so financial institutions can get connected fast, and their members see a payment hit their account the second it happens. That's intelligent banking in practice."
Originally reported by CU Today.