Municipal Credit Union Selects Payveris’ Digital Payments Platform

ROCKY HILL, Conn., Jan. 10, 2017 (GLOBE NEWSWIRE) -- Payveris, a provider of next generation API centric digital payment solutions designed to empower U.S. banks and credit unions to stay relevant with their customers by transforming the way they deliver digital payment and money movement services, announces $2.5 billion New York-based Municipal Credit Union (MCU) has selected and launched Payveris’ digital payments platform to support its digital payment and money movement strategy.

MCU selected Payveris’ digital payments platform for its complete line of services including consumer bill pay, business bill pay, external or account-to-account transfers, P2P and digital commerce. MCU will integrate the Payveris digital payments platform into all its digital channels, including desktop, tablet and mobile devices.

Payveris’ cloud-based open API digital payments platform will enable MCU to not only enhance their member experience for traditional digital payment services like bill payment and P2P transfers, but the platform will also position MCU for the future of digital payments, enabling MCU to easily extend its payment and money movement services into other internal or external third party Fintech applications.

The payments platform will be implemented as a white label solution that is fully integrated directly into MCU’s digital banking platform, Wescom Resources Group, and its core system, Symitar.

“We found the Payveris digital payments platform to be the most comprehensive payments solution on the market,” said Michael Mattone, vice president of public relations and corporate communications of Municipal Credit Union. “The platform is very flexible and designed to accommodate innovation, which helps us stay ahead of consumer demand for new payments services.”

“We designed our payments platform to empower financial institutions to take greater control of their destiny and how they deliver digital payments to their customers and members.  Our API will enable Municipal CU to enhance and extend digital payments as they see fit for their members,” said Jeff Weikert, president of Payveris. “We are honored that a credit union that places such a high priority on its members’ experience has selected our platform.”

Through its suite of open APIs and widgets, Payveris provides financial institutions and their Fintech partners with unlimited control, extensibility and flexibility of the digital payments and money movement user experience across any digital channel or application, enabling money to be moved to anyone, anywhere, anytime and with any device.

About Municipal Credit Union
Municipal Credit Union (MCU) is the oldest credit union in New York State and one of the oldest and largest in the Country. Established in 1916 and headquartered in New York City, today MCU has assets of more than $2.5 billion and offers a full range of financial services to its more than 400,000 members. With branches in New York City, Westchester and Long Island, its members also have access to the credit union’s large and growing ATM network. Eligibility to open accounts at MCU is available to a wide range of groups including New York City and Yonkers municipal employees; state and federal employees who work in the five boroughs; health care professionals who work in New York State; members of select industry groups; employees of private colleges in New York City and private and public colleges in Nassau, Suffolk, and Westchester; all students enrolled in a college, university, school, or institution in the City University of New York (CUNY) education system; certain family members, and qualifying retirees. MCU is an equal opportunity lender, and deposits are federally insured to at least $250,000 by the National Credit Union Administration (NCUA), a U.S. government agency. For more information about Municipal Credit Union, visit www.nymcu.org

About Payveris, LLC
Rocky Hill, Conn.-based Payveris is a provider of an open API digital payment and money movement platform designed to help financial institutions stay relevant in a digital world.  The company’s secure cloud-based platform supports a range of digital payment and money movement services including electronic bill payment, presentment and management, person to person (P2P) transfers, external (A2A) account transfers and business payments all through a single unified platform. The platform supports multiple funding methods, Intelligent Payment Routing™, integrated messaging, fraud mitigation and a robust suite of APIs and widgets to enable financial institutions to take complete control of the user experience, quickly create innovative new payment experiences, extend payment capabilities into third party applications, accelerate payments and reduce operating costs, allowing them to compete more effectively for today’s digitally connected consumers and businesses. For more information, please visit payveris.com

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Tuesday, January 10, 2017 - 07:00

Managed Care’s Top Ten Articles of 2016

There’s a lot more going on in health care than mergers (Aetna-Humana, Anthem-Cigna) creating huge players. Hundreds of insurers operate in 50 different states. Self-insured employers, ACA public exchanges, Medicare Advantage, and Medicaid managed care plans crowd an increasingly complex market.

Major health care players are determined to make health information exchanges (HIEs) work. The push toward value-based payment alone almost guarantees that HIEs will be tweaked, poked, prodded, and overhauled until they deliver on their promise. The goal: straight talk from and among tech systems.

They bring a different mindset. They’re willing to work in teams and focus on the sort of evidence-based medicine that can guide health care’s transformation into a system based on value. One question: How well will this new generation of data-driven MDs deal with patients?

The surge of new MS treatments have been for the relapsing-remitting form of the disease. There’s hope for sufferers of a different form of MS. By homing in on CD20-positive B cells, ocrelizumab is able to knock them out and other aberrant B cells circulating in the bloodstream.

A flood of tests have insurers ramping up prior authorization and utilization review. Information overload is a problem. As doctors struggle to keep up, health plans need to get ahead of the development of the technology in order to successfully manage genetic testing appropriately.

Having the data is one thing. Knowing how to use it is another. Applying its computational power to the data, a company called RowdMap puts providers into high-, medium-, and low-value buckets compared with peers in their markets, using specific benchmarks to show why outliers differ from the norm.
Competition among manufacturers, industry consolidation, and capitalization on me-too drugs are cranking up generic and branded drug prices. This increase has compelled PBMs, health plan sponsors, and retail pharmacies to find novel ways to turn a profit, often at the expense of the consumer.
The development of recombinant DNA and other technologies has added a new dimension to care. These medications have revolutionized the treatment of rheumatoid arthritis and many of the other 80 or so autoimmune diseases. But they can be budget busters and have a tricky side effect profile.

Shelley Slade
Vogel, Slade & Goldstein

Hub programs have emerged as a profitable new line of business in the sales and distribution side of the pharmaceutical industry that has got more than its fair share of wheeling and dealing. But they spell trouble if they spark collusion, threaten patients, or waste federal dollars.

More companies are self-insuring—and it’s not just large employers that are striking out on their own. The percentage of employers who fully self-insure increased by 44% in 1999 to 63% in 2015. Self-insurance may give employers more control over benefit packages, and stop-loss protects them against uncapped liability.