- Payments solutions company Allied Payment Network has partnered with MY CREDIT UNION of Bloomington, Minnesota.
- The partnership will integrate Allied’s payment technology with the credit union’s Ultracs digital banking platform.
- Headquartered in Fort Wayne, Indiana, Allied Payment Network made its Finovate debut in 2013.
Payments solutions provider Allied Payment Network will integrate its technology with MY CREDIT UNION’s Ultracs digital banking platform courtesy of a new partnership.
“Financial institutions like MY CREDIT UNION serve a critical role in their communities,” Allied Payment Network CEO Geoff Knapp said. “Their members aren’t just numbers; they’re neighbors and friends. They are allies for their community and we’re proud to be an ally for them.”
Headquartered in Bloomington, Minnesota, MY CREDIT UNION specializes in providing its members with financial wellness and banking solutions that “educate, empower, and engage.” Founded in 1957, MY CREDIT UNION has $380 million in assets, and serves its members via four branches as well as online.
MY CREDIT UNION President Greg Worthen credited Allied Payment Network for being a “community-focused organization.” He noted that this factor, among others, is what helped seal the deal. “With the combination of two, state-of-the-art platforms like Ultracs and Allied,” he said, “we’re confident we’ll be able to give our members the superior mobile-first experience they expect.”
Fort Wayne, Indiana-based Allied Payment Network made its Finovate debut in 2013 at FinovateSpring. Since then, the company has grown into a major paytech leader with 500 bank and credit union customers. Allied Payment Network offers a real-time, open-network payments model, and features a broad range of online and mobile solutions. These products and services include online billpay, P2P fund transfer, PicturePay, BizPay, PortalPay, A2A fund transfer, and Vault, a digital document storage solution.
In 2022, the company processed $3.6 billion in payment volume. This year, Allied Payment Network has forged partnerships with fellow Finovate alum Q2 in May, First Farmers Bank & Trust and Central Payments in June, Washington-based Commencement Bank and South Carolina-based United Community in September, and marketing firm Murphy & Company in October. The company also made a pair of C-suite hires in 2023. Allied began the year adding Kathi Klawitter as Chief Operating Officer. In July, the company introduced new Chief Information Security Officer James Dixon.
Allied Payment Network has raised more than $8 million in funding. The company includes Plymouth Growth among its investors.
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Forbes Magazine