Pidgin & MBS partner to enable real-time payments for community banks

By Delisha Fernandes

Pidgin, a secure real-time payments platform, has partnered with Modern Banking Systems, a provider of core bank processing solutions, to enable community financial institutions to offer real-time payments to their account holders.

Through the partnership, MBS’s core solutions and digital banking software will integrate with Pidgin’s faster payments platform to support real-time transaction processing via multiple payment rails, including the FedNow Service and The Clearing House’s Real-Time Payments Network. Pidgin’s integration partnership with MBS will equip more community banks with the technologies and connections required to facilitate real-time payments for their account holders.

“At Modern Banking Systems, we understand that each community bank is unique and has its own set of goals, challenges and opportunities to grow. We are continuously looking for ways to help banks get more from their core solution to meet those goals and maximize opportunities for growth,” said Michael Cronin, CEO of Modern Banking Systems. “Instant payments are gaining traction among consumers and businesses across the U.S. and by partnering with Pidgin, we can provide our clients with the tools they need to give their customers the payment options they now expect.”

Pidgin facilitates the exchange of data between a bank’s core processing system, such as MBS Essentia, any relevant third-party apps, including digital banking platforms, as well as the bank’s staff and account holders, and payment networks to route and process payments.

“Financial institutions need a modern, flexible and scalable core system that will make it easy to roll out new payment offerings, like the newly launched FedNow Service,” said Abhishek Veeraghanta, founder and CEO of Pidgin. “By integrating Pidgin’s payments platform with Modern Banking Systems’ industry-leading core solutions, more community banks, regardless of size, can offer faster payments to their retail and business customers. We are proud to partner with such a reputable organization like Modern Banking Systems and we look forward to expanding access to real-time payments in the U.S.”