ICBA & Pidgin Join Forces

by Amanda Martin, VP/Calling Officer

The Independent Community Bankers Association (ICBA)’s Subsidiary, ICBA Payments, has teamed up with Pidgin to help make Instant Payments easier for community banks to tackle. The Bankers Bank also has a partnership with Pidgin and is excited about what this additional alliance will mean for customers. 

As the world of FedNow continues to grow, many community banks seem to find themselves stuck in receive-only mode. Whether that is due to cost, core, or personal choice, the fact is that someone needs to send for others to receive. 

Pidgin is a secure faster payments platform that can both send and receive instant payments. It has a central connection point to FedNow, as well as other faster payments networks such as RTP or Zelle, which allows community banks to deliver options to their customers. Pidgin works straight from the customer account, routing payments directly to and from financial institutions. That means that funds are kept with the bank, as opposed to being held in a virtual wallet with a fintech provider, which creates safer transactions and lower fees. 

What does this mean for you? As a customer of The Bankers Bank, you have the option of using Pidgin! Pidgin integrates into most cores and allows customers to initiate payments through a banking app and/or online banking program. Pidgin processes the payments, settlement for entries comes from Fed, and Liquidity Management is a service TBB provides to monitor balances after hours, on weekends and holidays. 

The Bankers Bank is excited about what the new partnership between Pidgin and ICBA will entail. Today’s fast-paced market requires community banks to be ultra-competitive, and this option can help us all navigate the payments landscape with more ease of mind. 

If you have questions about Pidgin, FedNow or other payment options, please reach out to your calling officer. TBB is here to help!