Neural Payments offers a secure payments engine that integrates with existing digital banking platforms, enabling financial institutions to facilitate instant payments across various networks without requiring recipients to use the same app or bank. This technology addresses the limitations of outdated payment infrastructures by providing flexible payment options and robust fraud detection, enhancing user trust and minimizing losses.
Funding
$21.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
MVFounders
Product
Problem
Existing payment infrastructures often lack the flexibility to support instant payments across different networks, requiring recipients to use specific apps or banks. This creates friction for users and limits the reach of digital banking platforms. Outdated systems also expose financial institutions and their customers to increased fraud risks.
Solution
Neural Payments provides a payments engine that integrates with existing digital banking platforms, enabling financial institutions to facilitate instant payments across diverse payment rails. The platform allows users to send money to any bank account, card, or popular fintech wallet, regardless of the recipient's bank or app. Neural Payments connects various payment networks, including ACH, RTP, FedNow, and digital wallets, to streamline fund transfers. Its fraud rules engine offers real-time monitoring and customizable rules to minimize fraudulent activity and protect both the institution and its customers. The solution can be white-labeled and integrated into existing systems, allowing financial institutions to quickly deploy and customize their payment offerings.
Target Audience
The primary target audience includes community banks, credit unions, mid-sized banks, and larger financial institutions seeking to modernize their digital payment offerings, reduce fraud exposure, and enhance customer satisfaction.
Features
- Integration with existing digital banking platforms for rapid deployment
- Connectivity to multiple payment networks, including ACH, RTP, FedNow, and digital wallets (e.g., PayPal, Venmo)
- "Recipient-first" approach, enabling payments to any bank account, debit card, or digital wallet
- Customizable fraud rules engine with real-time monitoring and machine learning
- White-labeling options to align with the financial institution's brand
- Support for P2P payments, disbursements, and account funding
- Compatibility with ISO 8583, ISO 20022, and API-based rails