ST. PAUL, MINN. U.S. –April 24, 2019 – Design Center just joined forces with North American Banking Company to develop revolutionary mobile payment app ExcheQ for independent banks and credit unions. The app solves a previously unsolvable problem: how to transfer money, through an app, to someone that doesn’t have the app. This capability helps level the playing field with larger financial institutions.
ExcheQ works in the following manner:
ExcheQ was selected as one of three award finalists in the Payments 2019 ACH Network Challenge. The competition is designed to develop new ways to use same day ACH to improve efficiencies and add revolutionary capabilities to the payments system. The winner will be announced in Orlando, Fla. May 6.
Design Center is working with ExcheQ to incorporate the app into digital solutions they build for clients. Ken Haus, President of Design Center and Vice President of ExcheQ, said “Not many design and development studios are offering financial tools like this. As with all of our digital solutions, ExcheQ is innovative, practical, highly responsive, and users love it.”
The app was conceived by Michael Bilski, President of ExcheQ and CEO of North American Banking Company, when he was invited to participate in discussions on faster, more seamless payment systems with the Federal Reserve Bank’s Faster Payments Task Force.
“This app solves a simple problem that no one was able to solve before—being able to transfer money to another person through an app, even if the other person doesn’t have the app,” Bilski explained. “While this app is ideal for smaller financial institutions, it can be scaled to institutions of any size.”
Now that customers at North American Banking Company have been using the app successfully for more than a year, other financial institutions are eagerly adopting it. The app is distributed through UBB (United Bankers’ Bank) and available to end users through the Apple App Store and Google Play Apps.
Founded in 1969, leading software designer and developer Design Center turns strategic insights into reality through app development, virtual reality solutions, custom software and more. Rooted in design and energized by digital, Design Center creates engaging, long-term solutions that streamline business and spark conversation. The company’s user- experience-focused approach to design, development and implementation produces solutions that deliver value and profitability for clients. Among the company’s value adds is AppKits, a proprietary application management engine, that ensures the company’s solutions perform at the highest level. Design Center serves some of the world’s largest organizations from their headquarters in centrally located St. Paul, Minn.