WICHITA, Kan., and NEW YORK (12/30/11)--LendingTools and Viewpointe have signed an agreement to jointly provide a new settlement option for the corporate credit union industry.
The partnership will help fill the void created by last week's announcement that the National Credit Union Administration had not found a buyer for major portions of U.S. Central and will be shutting down the failed corporate.
The service will integrate the net settlement of wholesale payment service originators with corporate credit unions and their member natural person credit unions.
Lending Tools' payments technology and Viewpointe's aggregate net settlement will provide corporate credit unions and their service providers an alternative to legacy direct settlement options, the companies said.
They expect the new settlement option will be ready for testing in the first quarter of 2012.