An API-driven transaction banking platform to offer lending and real-time payments for Fintechs Qorus-Infosys Finacle Banking Innovation Awards 2024

To meet the rising demand for real-time payment solutions, zero-trust security, and API-driven automated transaction banking from corporate clients, including Fintechs, CBW Bank launched the "Programmable Ledger" in 2022. This versatile banking platform facilitates innovation while maintaining control.

The platform has successfully processed over 30 million transactions for Fintech partners and onboarded 10+ clients, generating over 20% of non-interest revenue. CBW has become a leading real-time payment (RTP) processing bank in the US. Key features include instant automated reconciliation, real-time risk scoring, live balance monitoring, automated payments with standing instructions, immutable ledgers, and zero-trust APIs.

For example, CBW extended Buy Now, Pay Later (BNPL) loans for construction materials to contractors, automating complex processes from loan origination to virtual card settlements. Another case involved providing companies in the early wage and earned wage access domain with a cost-effective real-time disbursement solution, enabling instant fund access and avoiding high-cost options like payday loans. CBW's platform enabled RTP processing via The Clearinghouse’s RTP network, offering real-time balance review, posting, automated reconciliation, and 24x7 availability.

The initiative is spearheaded by CBW Bank's entire management team, and delivered by joint teams of CBW staff and our vendor, NetXD. This project showcases how a bank can develop secure, compliant, and efficient Fintech solutions using advanced technology, thus transforming traditional banking products such as credit and payments to better serve innovative Fintech clients and other market segments.