PRINCETON, N.J. – Veridian Credit Union in Iowa and Utah Community Credit Union have committed to using the PayAnyone integrated electronic payment and bill presentment solution from Princeton eCom, the company says.
Waterloo-based Veridian, at $1.1 billion Iowa's largest credit union, will be replacing a legacy payment-processing system in order to reduce claims, increase adoption rates and improve efficiency without losing control of its data warehouse, the credit union says.
Provo-based Utah Community Credit Union is Utah's third-largest CU ($477 million) and cited Princeton eCom's biller directory updates and real-time billing information validation as factors in its decision.
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Princeton eCom says its solution significantly reduces the risk of payments being delayed or rejected and that clients have achieved claims rates of less than two per 10,000 transactions, the company says.
New Jersey-based Princeton eCom provides electronic payment solutions to more than 1,400 financial institutions and 200 corporate biller customers. Online Resources recently agreed to purchase Princeton eCom for about $180 million.
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