The Financial Institution Built for Innovation
Applicant name: The Reserve Trust Company
Innovation Name: The Reserve Trust Company
Innovation Type: Solution
Mission: Banking Made for You: The Financial Institution Built for Innovation
Innovation Description: Remittance companies live in a world of either meeting the requirements of big banks, or losing their banking services. Reserve Trust understands the complexity of global payments, the industry risks, and the need for quickly responding to our customers. We make it possible for money service businesses to have a seat at the banking table.
Advantages we bring to this market:
• We are experts from the financial services industry and we built our financial institution to handle
• We are nimble and can on board customers as quickly as 30 days
• We are building an API driven platform to allow any customer to have an open banking experience
• We are flexible—we work with our customers to create successful solutions
• We are accessible, no silos to break through working with us
• We are durable and your money is secure with us—we don’t lend or leverage your customers’ funds;
they are segregated and held in our Federal Reserve account
Status of Innovation: In-market
Innovation Active Since: 09/02/2018
Applicant Type: Private Company
Headquarter City: Greenwood Village CO
Headquarter Country: USA
Year Founded: 2016
Main Category Choice: B2B Solution
Why do you think you should win this category?:
Reserve Trust provides customized payment account solutions for the remittance industry. Whether it is an escrow account to receive and disburse customer remittances, an FBO account to receive and send funds from payment technology platforms, or clearing accounts for merchants, we work with our customer side-by-side to tailor your payment accounts.
We believe our unique charter as a state trust company with access to the US Federal Payment System positions us to deliver the benefits of a federally chartered bank with the advantages of focusing on payments. Our eye is always on the fast and accurate delivery of customer funds. We are also accessible to our customers–we do the hard work to assess the various remittance industry risk and business models and we start with yes, doing our best to accept and approve applicants. We have case studies showing speed to market, responsiveness and customized account structure. We have over 100 years of collective industry experience solving customer payment issues. We remove barriers.
Secondary Category Choice: Remittance Synergies
Why do you think you should win this category?
We leverage our collective industry experience and unique model for banking to provide opportunities for the remittance industry to seamlessly send and receive US dollar payments. With issues like being derisked, ignored and highly regulated, Reserve Trust’s payment solutions team can navigate these barriers and provide outstanding customer service to remittance companies.
A recent case study demonstrated that a Central American MTO was actively seeking a banking partner in the US and was prepared to provide all documentation needed when we began the process. We collaborated closely to understand the business needs (in Spanish) and had a flawless operation established within 45 days which included the Christmas holidays, resulting in a very happy customer. Another case study demonstrates the manner in which we partnered with our customer to navigate complex compliance requirements to enter the US Payments business in less than 30 days.
We take the time to understand our customer’s business, and create a great user experience.
Full Name: Justin Guilder
Full Name: Patty McKernan
Role: Chief Product Officer
company website: https://www.reservetrust.com
LinkedIn page with case studies: https://www.linkedin.com/company/the-reserve-trust-company/about/
Delighted Customer Case Study: https://docdro.id/urxLl3u
Full Name: Justin Guilder