Integrated Bank Technology (IBT), a company that specializes in engineering applications for financial institutions for in-house and ASP environments, and provides 24/7 support services, announced it has formed a strategic partnership with Palo Alto, Calif.-based Bling Nation, a local payments network provider for community banks.
As a result of the partnership, IBT has created an interface with Bling Nation's Community Payments Service, enabling joint customers to save money from the elimination of transaction fees. Customers will also generate additional revenue by claiming a larger share of transaction values while lowering costs for merchants.
"We are very excited about this partnership, because it creates a unique offering in the marketplace," Mike Golebiowski, president of IBT, explained. "Community banks need to provide additional value in a new way. With the integration of our application to Bling Nation's Community Payments Service, this value can truly be achieved. Bling Nation and IBT are focused on delivering new innovations that provide exceptional service and support, the initiatives at the forefront for community banks today."
Bling Nation's core technology is an integrated issuing and acquiring processing platform designed specifically for local and regional banks. Through its Community Payments Service, Bling Nation enables financial institutions to support secure contactless payments between their local demand deposit account (DDA) customers and their merchant customers by bypassing the current global debit payment model with a local payment network. The platform will interface with IBT's flagship product, Integrated Bank Environment, to debit customer accounts.
"Our partnership with IBT furthers our goal of delivering cost-effective payment solutions to community banks nationwide," said Wences Casares, co-CEO of Bling Nation. "Bling Nation strongly believes in promoting shop local initiatives that enable community banks and merchants to reduce costs and drive spending. Our Community Payments Service also provides consumers a convenient and secure local alternative to traditional debit card payments."