Alacriti, The Clearing House Team To Push Real-Time Payments Adoption

A 17-year-old FinTech is teaming up with The Clearing House, one of oldest players in the U.S. financial industry that was founded before the Civil War, to drive adoption of real-time payments across the banking industry.

Founded in 2003, Alacriti, which works with banks and other clients on making the transition to digital payments, said on Tuesday (Oct. 6) that it will be working with The Clearing House, a banking association and payments company that dates back to 1853, on a new venture to “foster real-time payments” across the banking and credit union (CU) industries, the New Jersey-based FinTech said in a press release.

“We’re committed to providing advanced cloud-native solutions that help financial institutions of all sizes accelerate their connection to the RTP network without needing to make expensive technology investments,” said Carl Robinson, senior vice president at Alacriti.

The venture combines Alacriti’s cloud-based platform – which is designed to spur payments innovation – with the Real-Time Payments network, or RTP, developed by The Clearing House.

Through the RTP network, which is billed as the first new payments infrastructure in the U.S. in four decades, banks and other financial institutions and their customers have access to a network that “enables instantaneous settlement and availability, so funds can be used or withdrawn as cash within seconds,” Alacriti stated.

“We are excited that Alacriti will be joining the growing number of technology firms who can bring real-time payments via the RTP network to banks and credit unions,” said Keith Gray, vice president of strategic partnerships at The Clearing House. “We look forward to working with Alacriti to provide access to the RTP network to financial institutions of all sizes.”