RALEIGH — Constellation Digital Partners has teamed up with Payrailz, a digital payments company, to bring banking as a service to credit unions.
The Raleigh-based Constellation offers a platform that assists credit unions and FinTech developers to work together. Payrailz, meanwhile, offers secure payments. Working together, the firms said they will make it simpler for credit unions to access the resources needed to provide the digital services members expect and desire. The patented secure marketplace enables credit unions to engage members, they say, in a way that’s never been possible before, powered by multiple providers, like Payrailz, through a single consolidated member application.
“Credit unions collaborate all the time and they expect vendors to collaborate as well. This partnership is a great example of that,” said Payrailz CEO and Founder, Fran Duggan, in a statement. “Similar to Constellation, our mission at Payrailz is to help credit unions leap frog current offerings and add value to the overall experience for their members. Payrailz is engineering solutions to address the needs of an emerging ‘do it for me’ culture by reimaging the payments experience. Partnering with Constellation further delivers on this promise.”
“Credit unions come to Constellation and Payrailz because they want to keep members happy. Happy members leads to higher retention rates,” added Constellation CEO and Founder, Kris Kovacs. “Constellation provides a new way for credit unions to deliver on its long-standing mission of making members’ lives easier. Our partnership with Payrailz is a good use case for that.”
The partnership also signifies another milestone for Constellation as its first enterprise level agreement, which allows developers to provide more platform-oriented functions and services for credit unions.
