Germantown Trust & Savings Bank is SHAZAM's newest Faster Payments program participant
posted on Tuesday, March 29, 2022 in Company News
DES MOINES, Iowa (March 29, 2022) — SHAZAM, Inc., a provider of financial services to community banks and credit unions nationwide, announces Germantown Trust & Savings Bank (GTSB), a community bank in Breese, IL, as the newest SHAZAM Faster Payments program participant.
By participating in SHAZAM’s Faster Payments Network, Germantown Trust & Savings Bank joins several other banks delivering to its customers the most modern payments infrastructure in the world. SHAZAM’s network enables consumers and businesses with immediate availability to funds received 24 hours a day, 7 days a week, 365 days a year, and with instant clearing and settlement between the sending and receiving financial institutions.
SHAZAM is providing Germantown Trust & Savings Bank accountholders with access to faster payments through its dedicated connection to the TCH RTP® system, the first new payments infrastructure built in the U.S. in more than 40 years.
“As part of SHAZAM’s pursuit and support of faster payments, we’ve enabled an initial capability to process credit receive transactions,” said Janet LaFrence, SHAZAM’s Faster Payments program manager. “SHAZAM’s historically been at the forefront of providing innovative faster payment solutions and our integration with the RTP system extends and enhances our EFT processing and core solutions with a new set of account-based, real-time payment transactions and related value-added services.”
“SHAZAM has been a trusted provider of banking solutions to GTSB and the communities we serve for over 25 years. Working with SHAZAM to add real time payment functionality to our list of product offerings is the right decision, as it introduces our customers to the newest payment rail to help them meet their evolving personal and business needs,” said James R. Lampe II, Chairman & COO. “Since our founding in 1906, our goal and focus has always been customers first, and the products and services SHAZAM offers ensures our commitment to that goal.”
About Germantown Trust & Savings Bank
Germantown Trust & Savings Bank has proudly served Clinton County for over 115 years. Established in 1906 as Germantown Savings Bank with beginning capital of $25,000, the bank was renamed Germantown Trust & Savings Bank in 1976 and currently holds assets in excess of $450,000,000. Originally founded to serve the needs of Germantown, the bank has since grown to include four locations. Today, Germantown Trust & Savings Bank, with locations in Bartelso, Beckemeyer, Breese and Germantown offers complete banking and trust services to all of Clinton County. At Germantown Trust & Savings Bank, our mission is to efficiently offer advanced technology and up-to-date banking services, while retaining a personal touch to further meet our communities’ banking needs.
SHAZAM pioneered the PIN-debit point-of-sale transaction, still used worldwide today. We’re the only nationwide independent, member-owned debit network and processor supporting community financial institutions. Since we don’t answer to shareholders, we can reinvest profits in technologies our clients need as they serve the next generation of consumers. SHAZAM ensures our clients have the products and services they demand and expect in a cost-effective way. Founded in 1976 and headquartered in Iowa, we’re a leader in payments and financial technology, with a simple mission: Strengthening community financial institutions. Visit us today at shazam.net.
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