June 23, 2021
Constellation Launches First Suite of Digital Services with Coastal Credit Union
The Coastal bill payment service by Payrailz successfully goes live on the platform
RALEIGH, N.C. – June 23, 2021 – Constellation Digital Partners is pleased to announce Coastal Credit Union as the first credit union to officially launch digital services for its members through the Constellation platform. Coastal will now offer its members a modernized digital bill pay and person-to-person payments experience powered by Payrailz.
Benefits of utilizing Constellation’s platform include:
- Seamless integration of new member services within a credit union’s current digital banking solution
- Faster expansion of online and mobile banking services to fulfill a credit union’s digital strategy
- Agile integration of countless fintech innovations – comparable to big banks
- Delivering real world collaboration that benefit both credit unions and fintechs
Coastal’s launch of the services through the Constellation platform brings the partnership between the two organizations to fruition. Constellation founder and CEO Kristopher Kovacs served as the former CIO of Coastal and developed the Constellation concept for the open development platform during his tenure there.
Coastal President and CEO Chuck Purvis said, “This launch is historic not only for Coastal, but for the credit union industry as a whole, and we’re honored to be part of it. We’re committed to providing our members with top tier technology solutions, and Constellation enables our complete digital transformation. This launch is just the first step of Coastal’s journey on the Constellation platform.”
Constellation is making it possible for credit unions to better compete with big banks by providing a platform that is able to rapidly deliver the digital services members desire. The open, patented and secure platform enables credit unions to engage members in a way that’s never been possible before, powered by multiple providers through a single consolidated member portal.
“The vision for Constellation is being realized with Coastal’s launch,” said Constellation Founder and CEO Kristopher Kovacs. “We are delivering on our promise to build a futureproof digital banking experience for credit union members, as well as an innovation showcase for fintech collaboration.”
Constellation’s platform serves as a unique enabler between the fintech community and the credit union industry. The Constellation ecosystem offers a safe and reliable way for credit unions to harness the innovation of fintechs with confidence, while competing with the best digital services in the industry.
“Both Constellation and Payrailz have a shared vision of creating better experiences for credit union members. Our collaboration is a great example of how we deliver fintech integration that makes it simpler for credit unions to use our payment service,” said Payrailz CEO and Founder Fran Duggan. “The momentum is building with approximately a dozen more credit unions in the queue and eager to integrate Payrailz services using the Constellation platform.”
Other credit unions are slated to launch a variety of services, including full digital banking transformations, on the Constellation platform later this year.
Interested credit unions and fintech developers can request a platform demo, or inquire about Constellation’s services development process and investment opportunities, by visiting constellation.coop/contact-us.
About Coastal Credit Union:
Coastal Credit Union is a not-for-profit, member-owned, financial cooperative, offering a full range of financial products and services. Coastal was chartered on August 31, 1967 with the mission of fostering the credit union philosophy of “people helping people.” Today, with $4.27 billion in assets, Coastal serves 286,000 members from 1,800 business partners and is among the leading financial institutions in North Carolina. Coastal operates 23 locations in central North Carolina and serves members in all 50 states through a network of 5,000 shared branches, 30,000 surcharge-free ATMs, mobile banking featuring mobile check deposit, and a robust offering of online services at www.COASTAL24.com. For more Coastal news, visit our online newsroom.
About Constellation Digital Partners, LLC:
Constellation has created the first open development platform dedicated to Credit Union and Fintech app development. This patented, secure, and flexible cloud-based ecosystem provides credit unions and innovative app developers the ideal platform to deliver safe, reliable, and next-generation digital financial service experiences. Credit unions now have the freedom to compete, innovate, and thrive in the financial services industry. First, by redefining what they offer, and second by delivering digital financial services in a way that places members squarely at the center of their business strategy. Visit www.constellation.coop to learn the latest innovations. Connect with Constellation on Twitter, Instagram (@ConstellationDP), Facebook and LinkedIn.
Payrailz is a digital payments company offering advanced payment capabilities and experiences including consumer and business bill pay, external and internal transfers, new account funding, P2P, B2B, B2C and other related solutions to banks and credit unions. In a society that increasingly has become focused on a “do it for me” culture, Payrailz’ smart technology makes the difference. Payrailz creates smarter payment experiences for the financial services industry that are predictive and more engaging than currently available alternatives. Financial institutions can confidently embrace Payrailz’ API-first and cloud-native technology engine, to offer unique payment solutions to their consumers and businesses. Payrailz helps financial institutions meet the payment expectations of today and the payment innovation needs of tomorrow. For more information, visit payrailz.com, follow them on Twitter @Payrailz, Facebook or LinkedIn, or contact Mickey Goldwasser at 860.430.9245.