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BankSocial

BankSocial

Solution(s): Remint, BankSocial
Website(s): banksocial.io (Off-site)
Contact: partnerships@banksocial.io

Inclusion of a provider in the exchange does not reflect any recommendation or endorsement by the Federal Reserve, or any relationship between the provider and the Federal Reserve. Learn more.

Services and products to support the FedNow® Service

Our white-label embedded app and API modules allow institutions to launch modern real-time P2P and global payments directly within their own banking environments. These modules embed the FedNow Service to handle real-time domestic movement for receiving and sending any payment type, while also providing the instant transfer necessary for users to move funds to and from digital asset or international destinations without rebuilding their existing infrastructure. In addition, our payment workflows include state-of-the-art AI-enabled fraud screening, paired with bank account screening from the Federal Reserve.

Segment type(s)

  • Consulting Firm/System Integrator
  • End-User Service Provider
  • Financial Institution Service Provider

Solution type(s)

  • Account Tokenization
  • AP/AR/ERP and Treasury Management Systems
  • Banking as a Service (BaaS)
  • Core Banking Platforms
  • Correspondent Services (settlement)
  • Digital User Experience (mobile/online interfaces)
  • Digital Wallet Providers
  • Pay by Bank
  • Payment Service Providers
  • Payment Testing Platform Providers (including Sandbox Opportunities, proof-of-concept services)
  • Payments Hubs/Platforms/Payment Gateways
  • QR Code solutions
  • Risk Management and Fraud Services

Use cases/markets served

  • Bill Pay and Presentment
  • Brokerage
  • Buy Now Pay Later
  • Construction
  • Digital Wallet Funding/Defunding
  • Government (e.g., municipality, state, federal)
  • Health Care
  • Insurance
  • Loans (direct or indirect)
  • Merchant
  • P2P Payments
  • Payroll
  • Real Estate (e.g., escrow, property management)
  • Transportation

FedNow functionality supported

  • Back Office/Treasury Management Services
  • Connectivity to the FedNow Service via FedLine® Solutions
  • Correspondent Settlement Services
  • FedNow Profile Management
  • FI Staff-Initiated Transactions
  • Fraud Prevention/Monitoring Services
  • Liquidity Management Transfers
  • Receiving FedNow Transactions
  • RFP Transactions – Businesses Receiving
  • RFP Transactions – Businesses Sending
  • RFP Transactions – Consumers Receiving
  • RFP Transactions – Consumers Sending
  • Sending FedNow Transactions – Business Accounts
  • Sending FedNow Transactions – Consumer Accounts

Ability to integrate with outside core processing solutions

  • Yes, any (core agnostic)

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Note on exchange information

Federal Reserve Financial Services (FRFS) is solely a host for the information presented in this Innovator Exchange and the inclusion or exclusion of a provider should in no way imply any relationship with, or recommendation or endorsement by, the Federal Reserve. Exchange presenters are not utilized by the Federal Reserve for the production or delivery of the FedNow Service. FRFS takes no responsibility for the content or accuracy of the information presented. Users of the exchange should perform their own due diligence on providers. See the Terms of Use and Privacy Policy for additional information.