" class="no-js "lang="en-US"> Allied Payment Network brings bitcoin wallet to Finastra platform
Thursday, March 28, 2024

Allied Payment Network brings bitcoin wallet to banks and credit unions through Finastra platform

 Allied Payment Network (Allied) and Finastra today announced Allied Bitcoin Wallet, a new app to be launched on Finastra’s FusionStore. The service, created by Allied, in partnership with NYDIG, will enable financial institutions to offer their customers and members the ability to buy, sell and hold bitcoin via a compliant, secure and turnkey platform. Allied is the first bill pay provider in the industry to embed this service into a payment platform and offer it to financial institutions.

“Allied’s primary focus is to make it easier for financial institutions to provide value-based technology that differentiates them in the marketplace, attracts new depositors, retains through high engagement, and generates revenue,” said Ralph Marcuccilli, Founder and CEO of Allied. “Providing access to bitcoin does just that and is a game-changer for many community institutions.”

Allied Bitcoin Wallet—built on Finastra’s open developer platform, FusionFabric.cloud—will consolidate bitcoin transactions, digital payments and account balances into one easy-to-access location for enhanced financial management. The financial institution will not have to hold bitcoin on balance sheet or transact in bitcoin to offer this service. However, by giving their customers the ability to buy, sell and hold bitcoin, financial institutions can attract new accountholders, better serve existing ones and create a new source of potential non-interest income.

“Bitcoin adoption has increased dramatically over the past 10 years, and financial institutions need to be able to service their customers across currency classes,” said Vincent Pugliese, SVP and General Manager, Platform, Finastra. “Finastra is excited to launch the first bitcoin wallet in its app store with Allied Payment Network. Through Finastra’s FusionStore, financial institutions are able to access innovation and claim a leadership position regarding the latest banking trends and technologies.”

People In This Post

Companies In This Post

  1. Barclays to Become the Official Banking Partner of WNBA’s New York Team Read more
  2. BNP Paribas to Bring Tap to Pay on iPhone to French Customers Read more
  3. Unleashing Growth: How additiv’s Expansion into the Middle East Market Is Set to Transform the Financial Services Industry Read more
  4. Mastercard and Singapore Airlines Partner to Elevate Travel Experiences for Cardholders Across Southeast Asia Read more
  5. NatWest Partners With Tesco to Help Farmers Reduce Costs and Decarbonise Read more