" 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.

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