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First Northern Bank (OTCQB:Non-auditor) Announced today to join the Alloy Labs Alliance, an alliance composed of innovative community banks, working together to promote the innovation and transformation of community banking business. First Northern Bank is the only member bank in California.
This announcement includes the partnership between the Alloy Labs Alliance and Payrailz to create an open payment network CHUCKTM value. ChuckTM value The network will accommodate multiple technology partners and transaction types, which will enable community banks to provide more options for their customers, many of whom want to send money to people who use other bank accounts.
Alloy Labs Alliance chose Payrailz, a digital payment company, as its partner to launch this new payment network.ChuckTM value Provide a holistic approach to provide consumers and businesses with personalized payments in a differentiated and cost-effective way.With the introduction of CHUCKTM value Community banks can now choose to provide instant payment functions instead of having to settle for more expensive, stricter and more closed networks.
Louise Walker, President and CEO of First Northern Bank said: “As part of the Alloy Labs Alliance, First Northern Bank has changed the rules of the game. CHUCKTM value It is an innovative method of peer-to-peer (P2P) payment that enables community banks to compete vigorously in the field of digital payment. This open payment network is the first of many innovative applications…
The full story can be found on Benzinga.com
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