PORTLAND, Ore., February 18, 2025–(BUSINESS WIRE)–Payfinia, a real-time payments platform, has announced its partnership with TAPP Engine, a B2B2C provider specializing in embedded finance solutions, to deliver a complete suite of instant payment services tailored for financial institutions (FIs) and wealth management firms.
This collaboration allows clients to leverage Payfinia’s comprehensive range of instant payment services, including functionalities for account-to-account transactions, ACH messaging, and instant payment requests. The joint offering from TAPP Engine and Payfinia will be accessible in Q2.
Tosin Osunsanya, the CEO and founder of TAPP Engine, stated, “Community financial institutions are striving to compete with large banks and third-party providers to deliver top-tier services. Offering the fastest and securest solutions for managing multi-assets brokerage and fractional shares investing is essential. Our alliance with Payfinia will equip our clients with a fully managed instant payment solution, enhancing their customer acquisition and retention strategies. Together, we will provide a secure framework for moving money that transforms our clients’ operations.”
TAPP Engine supplies WealthTech-as-a-service solutions along with back-office operational support to financial service providers. By incorporating instant payment capabilities into TAPP Engine’s platform, account holders can effectively manage cash flow within their accounts and increase the speed of securities purchases through connected brokerage accounts. They will also have the option to request prompt withdrawals from their brokerage accounts to their credit union checking accounts.
With access to Payfinia’s advanced admin console, participating FIs can implement layered fraud controls to manage risks associated with instant transfers and ensure secure ACH data origination. They can also initiate instant payments on behalf of account holders and execute instant disbursements to a selected group of suppliers via Payfinia’s Concierge Payments Module (CPM).
Keith Riddle, general manager at Payfinia CUSO, commented, “By merging Payfinia’s open payments framework and instant transfer experience with TAPP Engine’s wealth management tools, clients of TAPP Engine will enjoy a seamless and secure wealth management journey. We’re excited to collaborate with TAPP Engine to provide immediate fund access, enhancing efficient and secure money management capabilities. Our partnership is set to redefine money movement experiences in the wealth management and financial services sectors.”
