NEW YORK, TBD—ECS Fin, a New York based global Fin Tech announced today that IMS real-time payments has connected to RTP®, The Clearing House’s (TCH) new real-time payments system, and has exchanged instructions and processed responses successfully. TCH owns and operates core payments infrastructure in the U.S. including ACH, wire, and check image exchange networks. Last November TCH launched RTP, the first new core payments infrastructure in the U.S. in more than 40 years, which is open to all U.S. depository institutions. ECS Fin, a company that specializes in process optimization and transaction processing solutions has connected its IMS real-time payments module to The Clearing House’s RTP® and is offering the service to banks and credit unions.
Dr. Jacob Aruldhas, CEO of ECS Fin, stated that TCH’s RTP® is very timely in addressing demands in market practices and ever increasing customer needs and expectations that engage complex transaction processing workflows for instant clearing.
ECS Fin’s unique architecture and instant integration capabilities allow financial institutions to adopt the module instantly without disrupting internal systems. Besides, its payment service bureau, a cloud based offering makes it possible to TRY/BUY any IMS payment solution instantly.
Mr. Keith Gray, TCH’s V.P. of Business Development, stated, “Our intention is to make access to RTP available to all financial institutions, regardless of size. Working with companies like ECS Fin makes that possible by providing multiple deployment options.”
ECS Fin helps larger banks to be efficient while equipping smaller banks to offer complete service to its customers without having to make major investments on products and services.
Speaking on the expanded capabilities of ECS Fin, Dr. Aruldhas stated that the company offers the application, integration and connectivity as an end-to-end solution at the customer premises, hosted or in the cloud. ECS Fin rapid time-to-market and SaaS pricing model helps decision makers eliminate risks associated with time, cost and performance.
IMS real-time payments is one of the basic payments module within the ECS Fin’s Enterprise Payment Hub – IMS Payments.