Renewed agreement
MoneyGram has renewed its official check processing agreement with Mountain America Credit Union, a federally chartered credit union.
MoneyGram’s agreement with Salt Lake City, Utah-based Mountain America includes the signing of a multi-year contract extension to offer processing and program management for Mountain America’s official bank checks.
The agreement leverages MoneyGram’s PrimeLink Official Check outsourcing solution, which includes daily balancing and reconciliation, inventory management, real-time updates and a state-of-the art online platform. MoneyGram has worked with Mountain America since 1997 in support of Mountain America’s official check program and through its efforts has helped the company prevent fraud losses through timely detection of fraudulent transactions.
“We are extremely pleased to continue our relationship with Mountain America Credit Union,” said Rex Northen, vice president of MoneyGram’s banking solutions group. “Mountain America Credit Union is a valued client of MoneyGram. We provide a great product to Mountain America and its customers and an easy to use web-based PrimeLink platform for Mountain America employees, along with enhanced capabilities for prevention of fraud losses.”
“MoneyGram has been a strong partner assisting Mountain America Credit Union in mitigating fraud losses,” said Gabe Engman, vice president of finance for Mountain America. “Beyond fraud prevention, we’ve also found MoneyGram’s customer care, responsiveness, and reliability to be critical to the success of our continued relationship.”
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
