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.