ATB Financial outsources bill paytech to Central 1
Canada-based Central 1 Credit Union has signed ATB Financial for its Bill Payment Processing Services.
ATB Financial, the largest financial institution based in Alberta, has also become the largest non-credit union financial institution to utilise this service. It has 318 locations, 5,000+ employees, 700,000+ customers, and $50.7 billion in assets.
Central 1 provides wholesale financial products, services and digital banking solutions to nearly 300 Canadian credit unions and other financial institutions.
Mark Blucher, president and CEO of Central 1, says the deal “demonstrates Central 1’s ability to serve larger scale financial institutions”, but is quick to add that the company is “poised to continue to serve credit unions and financial institutions of every size”.
The Bill Payment Processing Services offering includes full support for proprietary bill payment and electronic Corporate Creditor Identification Number (commercial) remittance processing. “ATB’s utilisation of the commercial remittance processing marks an important expansion of ATB’s service offerings, as this will enable ATB clients, such as businesses or municipalities, to streamline and consolidate customer bill payments made via online banking,” the vendor explains.