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July 30, 2024
Washington, D.C. (July 30, 2024)—ICBA Payments, the payments subsidiary of the Independent Community Bankers of America (ICBA), announced today a new partnership with Pidgin to facilitate instant payments for the nation’s community banks.
"The demand for faster payments continues to grow," ICBA Senior Vice President, Head of Product and Strategy Nick Denning said. "While many community banks are connected to the FedNow network, most are still in a receive-only capacity. Pidgin’s proven track record and ThinkTECH Accelerator alumnus status make them an ideal partner for helping community banks accelerate the adoption of instant payments and enhance service delivery to their customers and communities.”
Pidgin is a secure faster payments platform that serves as a single solution to send and receive faster payments directly from customer accounts with payments routed directly between financial institutions. The company’s technology serves as a central connection point to the FedNow Service and other faster payment networks, enabling community banks to easily deliver instant payment options to their customers for a variety of use cases. Since the platform eliminates the need to use a holding account by a third-party provider or a virtual wallet, Pidgin facilitates a safer, more secure transaction.
“ICBA Payments has long been committed to serving community banks as they navigate the ever-changing payments landscape,” said Abhishek Veeraghanta, founder and CEO of Pidgin. “We are proud to partner with such an esteemed organization and look forward to what we can accomplish together to supercharge real-time payments adoption and help community banks remain responsive and competitive in today’s fast-paced market.”
Pidgin continues to gain traction in the community banking space, having partnered with Community Bankers’ Bank, Exchange Bank, U.S. Century Bank, and several others in the last year. In addition to its rapidly growing client base, Pidgin was also selected to participate in the renowned ICBA ThinkTECH Accelerator program, which has connected the most innovative, cutting-edge fintech companies in the world with more than 1,400 community bankers and industry leaders.
About ICBA Payments
ICBA Payments, a wholly owned subsidiary of the Independent Community Bankers of America® (ICBA), has been managing payments solutions for the nation's community banks since 1985. We help power the potential of ICBA members through payments-related innovation and education to help community banks navigate the payments ecosystem and select suitable offerings at favorable pricing—helping community banks compete and thrive. For more information, visit icbapayments.com.
About Pidgin
Pidgin is a new, innovative and secure faster payments ecosystem, enabling financial institutions, business owners and individuals to process transactions faster and with lower fees. Engineered to deliver innovation both today and in the future, no matter how payments evolve, Pidgin allows financial institutions to send and receive faster payments almost instantly, but in a more secure way than virtual wallet alternatives. When using Pidgin, money is kept within the financial institution, as opposed to a holding account owned by a fintech provider. For more information, please visit www.pidgin.net or follow them on Twitter @PidginPayments and LinkedIn.