Liberty Bank selects Payrailz payments tech in ongoing digital drive
Connecticut-based Liberty Bank has selected Payrailz to run its digital payments systems, part of an ongoing innovation push.
Liberty Bank is Connecticut’s oldest lender
Payrailz will operate the mutual bank’s consumer and business bill payments, bill negotiation services and peer-to-peer (P2P) and account-to-account (A2A) money transfer services.
The vendor says its selection came down to an ability to offer modern technology and personalise the end customer experience.
David Mitchell, chief digital officer at Liberty Bank, says his firm prides itself on an “ability to drive continuous innovation in our digital engagement”.
He adds: “Our goal isn’t just to keep pace with current trends; our goal is to offer a money movement experience that sets us apart from the abundance of competition.
“Payrailz’s revolutionary payments platform will be the foundation for Liberty to execute on our payments vision now and into the future.”
Founded in 1825, Liberty Bank is Connecticut’s largest mutual bank. The lender holds around $7 billion in assets and operates 62 branches across the Constitution State.
It signed a “long-term contract” with Alkami Technology in May to revamp its digital banking operations. It also deploys a financial management suite from Geezeo.
“We love working with banks like Liberty who share our vision to constantly push forward and not become complacent with their payment solutions,” says Fran Duggan, CEO of Payrailz.
“Liberty Bank is an industry recognised leader that is constantly making incredible strides toward innovation.
“[It] embraces technology to provide exceptional service to its customers particularly in today’s ‘do it for me’ driven culture.”
