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Utilizing brand new technology to build an Instant Payments feature for an existing app.
ExcheQ is a payment app that has supported traditional ACH transactions — electronic bank-to-bank transfers that are finalized on a next-business-day basis. They wanted to upgrade the experience and committed to being the first-to-market with a cutting-edge, person-to-person (P2P) Instant Payment feature that sends money in real-time without the need for third parties or additional accounts.
Making it happen called for a clear technology roadmap, a redesign of administrative functions, and a partner who could quickly learn new industry requirements and resolve technology challenges.
Client
ExcheQ
Services
Industry
1-3 days → Instant
traditional ACH transactions became real-time, P2P Instant Payments
First Mover
First consumer software on the market to integrate with FedNow®
What we did
- Quickly immersed in and absorbed knowledge of banking industry standards and procedures.
- Added specially designed testing scripts allowing us to identify and resolve inconsistencies between existing and new API environments.
- Handled changes to API flow with high responsiveness and real-time collaborations with stakeholders.
- Integrated the Instant Payments feature with ExcheQ’s partner, Open Payment Network (OPN), to make calls to FedNow® and the RTP® network.
- Developed an automated pipeline that builds code, tests the build, and publishes the new code automatically in approximately five minutes.
- Provided the client with a fully functioning app that can be used to secure funds from partners and potential investors, growing the app’s market share.
The result
- The Instant Payment feature is bolstered by a robust security solution, automated pipelines, and rock-solid test framework.
- P2P instant payment solution integrated with FedNow® and the RTP® network.
- Upgraded experience from traditional, 1-3 day ACH transactions to real-time P2P Instant Payments
Every project started with a conversation.
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