MILWAUKEE — Corporate Central Credit Union said it is expanding its faster payments strategy through Beastro, an integrated money movement platform designed to help credit unions manage multiple payment types from a single system while adding access to the Federal Reserve’s FedNow instant payments service.
According to Corporate Central, Beastro combines ACH, domestic and international wire transfers, internal transfers, treasury management and instant payments into a single platform, allowing credit unions to select the most appropriate payment rail based on factors such as speed, cost, settlement timing and availability.
The organization said the platform is intended to reduce operational complexity by replacing multiple payment systems with a unified interface that provides greater efficiency, visibility and flexibility.
What’s Included
As part of the platform’s ongoing enhancements, Beastro now includes access to FedNow, the Federal Reserve’s real-time payment network. Corporate Central said the service enables participating credit unions to send and receive instant payments with immediate settlement and funds availability through the same platform they already use for money movement.
“Credit unions need flexibility, confidence, and choice when it comes to moving money,” Heather Ristow, senior vice president and chief experience officer at Corporate Central, said in a statement. “No single payment rail is right for every transaction. Beastro brings traditional and emerging payment capabilities together in one connected experience, giving credit unions the freedom to choose the right solution while positioning them for the future of payments.”
Corporate Central said its initial FedNow offering is focused on institution-level operational uses, including settlement activities and other back-office transactions where immediate funds availability can improve efficiency. Because FedNow operates around the clock, the service also extends payment capabilities beyond traditional processing hours.
Complement for Broader Strategy
The corporate credit union said FedNow complements its broader faster payments strategy by adding instant payment capabilities to the existing Beastro platform rather than requiring a separate system.
“Our goal is not simply to add another payment capability,” Ristow said. “We are building a connected money movement ecosystem that helps credit unions operate more efficiently, adapt to evolving payment expectations, and confidently embrace what comes next.”
Corporate Central said it plans to continue enhancing Beastro with additional faster payment capabilities, automation, treasury management tools and digital services as it seeks to help credit unions streamline operations and prepare for future payment innovations.
Additional information is available here.
