Payfinia, an independent payment services firm providing an open framework, today announced the appointment of Keith Riddle as Chief Executive Officer. Building on strong company momentum, expanded adoption of its Instant Payments Xchange (IPX) platform and continued ecosystem expansion, Riddle will be instrumental in leading its next phase of growth. Payfinia's IPX platform enables Community FIs to collectively access and scale real-time payment capabilities through a modernized, shared infrastructure.
Payfinia appoints Keith Riddle as CEO; previously founding investor and co-founder of Payfinia CUSO.
IPX platform provides access to both FedNow Service and RTP network for 24/7 send and receive credit transfers.
Community FIs using IPX report deployments in less than 80 days, exceeding annual transaction volumes by over 30%.
Up to four times greater processing efficiency; tenfold reduction in customer support calls.
Over 50% reduction in fraud per dollar compared to Same-Day ACH.
Recent partnerships include Achieva Credit Union, CU*SOUTH, EWS Paze, Sync1 Systems, and Matera.
“As a founding investor and co-founder of the Payfinia CUSO, Star One backed this platform to put real-time payments squarely in the hands of community financial institutions (Community FIs), not extracted from them. Keith has spent his career inside our world; he understands what Community FIs need and how to build alongside us. His appointment as CEO gives Payfinia's owners and customers exactly the disciplined, customer-aligned leadership this next phase of growth requires,” said Minal Gupta, CEO of Star One Credit Union and Payfinia CUSO founding investor.
“What began as an extension of innovation within our ecosystem has become a dedicated infrastructure platform driving real-time payments adoption across the industry. Keith's job is to work directly with the larger community financial institution ecosystem and CUSO investors to bring IPX across all digital banking platforms, independent of any single provider,” said Siva Narendra, CEO of Tyfone. “Payfinia is owned by the institutions it serves, and that ownership demands the freedom to meet them wherever they operate. Keith has the experience and credibility to deliver it.”
“It is an honor to be tapped as Payfinia's CEO,” Riddle said. “Community FIs are ready for instant payments at scale as consumer expectations shift toward real-time, always-on money movement. Our mission is to make that transition practical and scalable by removing traditional barriers to adoption. Through the shared and secure infrastructure model enabled by IPX, institutions can launch faster, operate more efficiently, and deliver modern payment experiences without the cost and complexity of independently building these capabilities. Payfinia is focused on expanding adoption, deepening integrations, and making real-time payments scalable and operationally sustainable across the industry.”
Payfinia Inc. is an independent payments company, providing community financial institutions access to and ownership of their instant payment services. Payfinia's flagship product offering, the Instant Payments Xchange (IPX), is a secure, scalable, and affordable real-time money movement service. Additionally, Payfinia partners with third-party digital providers to integrate instant payments with traditional payment and money movement solutions, extending the technology provider's capabilities, while also providing community financial institutions with a more robust payments ecosystem.
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