Credit union invests in full suite of digital services to enhance consumer banking and expand commercial banking functions to improve financial wellbeing

Digital banking provider Tyfone today announced Diamond Credit Union (Diamond) has selected its nFinia® Digital Banking platform for commercial and retail account holders. Diamond selected the platform for its configurability and ability to meet the digital needs of both members and small- and medium-sized businesses (SMBs) in its community.

Pottstown, Penn.-based, chartered community-Diamond has $1 billion in assets and serves 66,000 members across Berks, Montgomery, Chester and Bucks counties. The credit union was a long-time customer of Cubus Solutions, which Tyfone acquired in 2023.

“We are constantly seeking technology that can enable us to remain competitive and enhance the financial health and wellness of our community,” said Rick Patel, CEO at Diamond. “After a rigorous interview process and considering our future technology plans, we knew that Tyfone would be the right choice for our banking platform. At the end of the day, financial services are homogenous; it's what can you do differently for your members and small businesses. We believe we will have a best-of-breed solution with Tyfone.”

“A driving force for us in this decision was the importance of relationships,” said Jim Daly, SVP of IT at Diamond. “Tyfone delivers what they say they are going to deliver. They listened to our needs, collaborated with us and ensured we felt comfortable making this decision. We value that we have a true partnership with Tyfone because we need great tools to move our organization forward.”

nFinia is a configurable, API-driven commercial and retail banking platform. Its open infrastructure allows Diamond to integrate with third-party retail and business applications to support members’ specific needs.

Diamond is also leveraging Tyfone’s Skip-A-Pay and Quick Pay solutions. These two loan payment solutions provide members with financial relief and added convenience, while also providing new revenue streams for the credit union. Skip-a-Pay is a fully automated, loan payment deferral solution that allows members to control their loan payments. Quick Pay enables members to pay loans through a variety of sources with or without logging in to the credit union’s app. The credit union plans to join Tyfone’s FedNow Instant Payment Xchange (IPX), an instant payments solution enabling account holders to send and receive money 24/7/365. Tyfone is the third largest originator on the FedNow network, which has grown to more than 700 participants since launching last summer.

“At Tyfone’s core is its dedication to improving financial wellness through innovation, and it is rewarding to work with credit unions like Diamond that are motivated towards the same goals,” said Siva Narendra, CEO of Tyfone. “Partnering with Diamond to deploy our nFinia platform, Quick Pay and Skip-A-Pay solutions will help the credit union grow engagement and deposits, which is paramount in today’s competitive market.”

About Diamond Credit Union

Diamond Credit Union is a full-service, community-chartered credit union offering everything you need from everyday checking, savings, and loans, to Commercial Services, Mortgages, and Financial Planning. Diamond is not-for-profit and member owned. Anyone who lives, works, worships, goes to school, or regularly conducts business in Berks, Montgomery, Bucks and Chester counties is eligible to join Diamond Credit Union.

About Tyfone Inc.

Based in Portland, Ore., Tyfone is a leading provider of consumer and commercial digital banking services for community financial institutions throughout the U.S. We understand that an elegant, engaging, intuitive user experience is the minimum requirement for any digital banking provider. What differentiates Tyfone is our unwavering commitment to continuous innovation, exceptional collaboration and superior execution. We consider each customer a true partner and place the highest value on every relationship. To learn more about Tyfone, visit Tyfone.com and connect on LinkedIn.

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Rick Patel, CEO at Diamond, said, “After a rigorous interview process and considering our future technology plans, we knew that Tyfone would be the right choice for our banking platform."