June 17, 2021
TABLE OF CONTENTS
Sherpa Technologies, a credit union service organization (CUSO), saw marketplace momentum shift toward faster payments and payment messages. Seeing this opportunity, Sherpa sought to create a platform that could deliver a suite of real-time payment (RTP) messaging services in a unified way to credit unions and industry partners. With Levvel’s help, Sherpa set out to create the first RTP-as-a-service platform offering to empower credit unions to advance their payment modernization efforts.
See our executive insights from today’s data on how many organizations see the benefits to RTP and what percentage plan to implement it in the next two- to three years, the significant role FIs and back-office software providers have in educating organizations on RTP’s use cases and what implementation entails, and much more about the state of RTP.
As Sherpa worked to enable credit unions and industry partners, they first focused on educating stakeholders on the benefits and use cases associated with RTP while expanding their considerations to partners outside of their existing payment experiences and platforms. Ultimately, while discussing the operational differences in a new 24/7/365 payment network, Sherpa identified the following challenges related to solution enablement:
Sherpa engaged Levvel to review, challenge, and validate their approach to creating the services within their open- payment enablement platform. Levvel’s mission was to then help the CUSO understand the complexity of RTP and provide strategic guidance on product design and architecture, ensuring the Sherpa platform could realize its ambitious goal of empowering all types of credit unions.
Sherpa became the first, non-core independent CUSO third-party service provider certified on the RTP network. As a result, their open-payment enablement platform:
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