Cross River Announces Plans to Implement the RTP® Network, TCH’s Real-Time Payments System
Summary
With the RTP network, Cross River will provide the ability for its fintech and commercial banking clients to seamlessly send, clear and settle payments instantaneously with advanced messaging capabilities, while maintaining a strong focus on compliance. The network is the first to deliver 24/7 clearing and interbank settlement, including the real-time movement of money and enriched data between participating financial institutions. Cross River enhances its clients’ money-movement by enabling third parties with access to the core payment rails, further increasing its Banking-as-a-Service (BaaS) offerings and meeting client demands. As the country’s oldest banking trade association, The Clearing House also provides informed advocacy and thought leadership on critical payments-related issues facing financial institutions today. The Clearing House is owned by 24 financial institutions and supports hundreds of banks and credit unions through its core systems and related services.