CBB selected Pidgin to provide its community bank partners and their customers with a fast, easy, and secure way to send and receive payments. With Pidgin, payments are routed from financial institution to financial institution. Money is hosted by the financial institution and transferred from the customer’s account directly to the payee’s account, either a personal or a merchant account.

Serving nearly 150 demand deposit account client banks across the Fifth Federal Reserve District, CBB was founded in 1987 as a relationship-based partner focused on providing value-driven innovative products and services. Since then, CBB has remained dedicated to delivering continuous innovation, value, and resources to community banks, allowing them to increase their profits and better serve their customers and communities. By partnering with Pidgin, CBB empowers its network of community banks to embrace faster payments and ultimately gain a competitive advantage, as a growing number of financial institutions, customers, and businesses expect transactions that are processed in real-time.

CBB can now support faster payments across various use cases through the platform. For personal accounts, Pidgin is a single solution to send and receive payments directly from a checking account. There is no waiting or transfer period. Once a transaction is complete, funds are available almost immediately. Businesses and merchants can also easily accept real-time payments from customers with no waiting or transfer periods. For CBB’s Shareholder and Client banks, Pidgin streamlines reconciliation processes and reduces interbank settlement times with no added risk.

Additionally, Pidgin supports using different payment routes, including FedNow, real-time payments, and same-day ACH. As a result, CBB’s community bank partners can route payments according to speed, cost, and network, ensuring payments arrive when an account holder needs them at the lowest price possible.

“CBB strives to be a trusted resource that gives our valued bank partners the same capabilities and services of the leading big banks,” said Gary Shook, president, and CEO of Community Bankers’ Bank. “With a deep understanding of the needs and challenges of our customers, we recognize that faster payments are the clear next step in our service offerings. That’s why we chose to partner with Pidgin. By leveraging Pidgin’s real-time payments platform, our network of community banks can allow their customers to transact payments faster and with lower fees, which is what today’s businesses and consumers increasingly expect.”

“As faster payments continue to build momentum - especially as we near the upcoming launch of FedNow, the time is now for financial institutions to build a roadmap for success and provide faster payments capabilities to their customers,” said Abhishek Veeraghanta, founder and CEO of Pidgin. “With Pidgin’s real-time payments ecosystem, Community Bankers’ Bank is helping its network of banks gain a competitive advantage and stay ahead of the curve with new payments technology. We look forward to our partnership with CBB. Together, we can support a growing number of independent community banks as they embark on their faster payments journeys.”