" class="no-js "lang="en-US"> Astra to Launch Automated Bank Transfer Solution for Financial Institutions 2/23
Tuesday, May 28, 2024

Astra to Launch Automated Bank Transfer Solution for Financial Institutions

Astra’s new transfer automation platform for financial institutions and fintechs:

  • Uses a single comprehensive API to enable its customers to offer fast, programmatic transfers between their users’ network of accounts.
  • Allows developers to easily embed financial automation within their existing products.
  • Evaluates user profiles across multiple data points, manages authorizations, and verifies all accounts for ownership.
  • Has a reliability rate of 99.999%. Transfers created through Astra’s platform settle faster than standard ACH and are processed without risk.
  • Offers two-day ACH transfers with no fee to its customers because its orchestration technology performs so well.

According to PitchBook there is a significant opportunity in this market with “transfers processed with accelerated settlement are growing at a rapid pace – transfer volume in this segment was $1.2T in 2019 and estimated to grow to $3.3T by 2023 (CAGR of 29.3%).

Co-Founders Gil Akos, Chief Executive Officer, and Sam Morgan, Chief Operating Officer, are available to discuss how Astra’s proprietary, full-stack API enables efficient financial functionality through a suite of pre-built automations, transfers orchestration between banks, integrated anti-fraud, and account virtualization.

People In This Post

Companies In This Post

  1. GoHenry Launches Manifesto Urging Next Government To Improve Financial Education In Schools Read more
  2. Banca Sella Enables Payments on the Discover® Global Network Read more
  3. APOLLO Insurance Raises CAD $18.5 Million to Launch Finshore Buy-Now-Pay-Later Subsidiary Read more
  4. Intellect Launches Canada-Ready eMACH.ai Cloud for Banks and Credit Unions, Enhancing Payments, Digital Experiences, Core Banking, and Contextual AI Read more
  5. XTransfer and TerraPay Partner to Empower Global SMEs with Enhanced Cross-Border Payment Solutions Read more
Open-banking-expo-sidebar