Latest news with #AbhishekVeeraghanta
Business Wire
06-05-2025
- Business
- Business Wire
Pidgin and United Bankers' Bank Named American Banker's 2025 Innovation of the Year
ATLANTA--(BUSINESS WIRE)-- Pidgin, a secure, real-time payments platform built for the future of payments, is proud to announce that its partnership with United Bankers' Bank (UBB) has been recognized as one of American Banker's Innovations of the Year for 2025. This prestigious award highlights the groundbreaking work Pidgin and UBB have accomplished in bringing instant payment capabilities to community banks across the United States. The collaboration between Pidgin and UBB has empowered more than 1,000 community banks to offer their customers secure and convenient payment options through the FedNow Service, the Federal Reserve's instant payment offering. Share According to UBB, 'Receiving this Innovation of the Year award is a proud moment for us and a testament to the strength of our collaboration with Pidgin. At UBB, we are focused on operational excellence and customer-centric innovation. By partnering with Pidgin, we've accelerated our ability to deliver seamless, secure, and modern payment experiences that meet the evolving needs of our clients.' The collaboration between Pidgin and UBB has empowered more than 1,000 community banks to offer their customers secure and convenient payment options through the FedNow Service, the Federal Reserve's instant payment offering. By providing community banks with access to cutting-edge payment technology, Pidgin and UBB have helped level the playing field, allowing smaller financial institutions to compete effectively with larger banks and fintech companies. Since going live with Pidgin, UBB has consistently increased the number of partner banks participating in the FedNow Service by 5-10% each month. The partnership enables community banks to process transactions quickly and securely across a variety of use cases, including Peer-to-Peer (P2P), Consumer-to-Business (C2B), Business-to-Consumer (B2C), and Business-to-Business (B2B) payments. "Being recognized by American Banker for our work with UBB is a tremendous honor that validates our mission to make instant payments accessible to financial institutions of all sizes," said Abhishek Veeraghanta, Founder and CEO of Pidgin. "This award belongs equally to the team at UBB, whose forward-thinking approach to payments has enabled their network of community banks to participate fully in the real-time payments landscape." American Banker's Innovation of the Year awards will be presented at a special gala during the Digital Banking Conference in Boca Raton on June 14, 2025. The awards recognize groundbreaking solutions driving real business impact and redefining what's possible in banking and financial services. About Pidgin Pidgin is an innovative and secure faster payments ecosystem, enabling financial institutions, business owners, and individuals to process transactions quickly and with lower fees. Engineered for the future of payments, Pidgin allows financial institutions to send and receive instant payments while keeping funds within the institution, rather than a third-party holding account. For more information, visit or follow Pidgin on LinkedIn.
Business Wire
29-04-2025
- Business
- Business Wire
VSoft Ushers In New Era: Modernizing Core Banking with API-First, Real-Time Solutions for Financial Institutions
ATLANTA--(BUSINESS WIRE)-- VSoft Corporation, a trusted provider of technology solutions for nearly three decades, is ushering in a new era of innovation, focused on modernizing core banking with API-first, real-time solutions for banks and credit unions. "Modernizing core banking systems isn't just a competitive advantage – it's becoming the deciding factor for which financial institutions will thrive in the next era of financial services." Under the leadership of Abhishek Veeraghanta, President of VSoft, the company is focused on delivering cutting-edge core and digital banking solutions specifically designed for modern financial institutions facing increased pressure to innovate. Veeraghanta, a fintech visionary, brings a wealth of expertise to his expanded role at VSoft. In 2022, he launched Pidgin, an Atlanta-based fintech and FedNow Service early adopter, enabling financial institutions to offer real-time payments to their account holders. Veeraghanta's appointment signals VSoft's commitment to driving innovation and delivering next-generation solutions to financial institutions globally. Many financial institutions continue to rely on legacy core systems that are 40 years or older, which reside on mainframe hardware coded with outdated programming languages. This technology is difficult, expensive and time-consuming to maintain. It's also rigid and severely limits a financial institution's ability to launch new products or service offerings. As a result, more financial institutions are pursuing core modernization strategies. In fact, Oliver Wyman research estimates that up to 5% of banks are looking to migrate to a new core system in the next two years. Ultimately, the next generation of financial services will be driven by platforms that embrace integration and connectivity. It's not enough to just modernize; institutions need systems that enable true extensibility, allowing them to add new features and respond quickly to customer expectations. VSoft is helping financial institutions make this leap with solutions like Wings, a cloud-ready core platform, delivering seamless integration and unmatched performance across both deposit and lending operations. VSoft's core platform is designed with: API-first architecture enabling easy third-party integration Real-time processing capabilities supporting instant payments Cloud-ready infrastructure ensuring scalability and resilience Modern technology stack providing a foundation for AI integration "Modernizing core banking systems isn't just a competitive advantage – it's becoming the deciding factor for which financial institutions will thrive in the next era of financial services," said Veeraghanta. "With our cloud-ready solutions, financial institutions can remain agile, adopt emerging technologies, and deliver the uninterrupted, high-performance banking experiences their customers expect." Known for its payment processing solutions, VSoft remains committed to its payment solutions. The company is partnered with the nation's largest financial institutions, processing 1.5 million checks per day. Despite an increase in digital, checks represent more than 20 percent of total payment value in the U.S. VSoft also continues to see strong growth of its digital banking platform, Arya, now leveraged by more than 30 banks and credit unions. About VSoft Corporation VSoft Corporation delivers cutting-edge core and digital banking solutions tailored for the modern financial services industry. Built with an API-first approach, VSoft's platforms empower financial institutions to integrate seamlessly with complex business systems and adopt next-generation technologies. Designed for real-time processing and scalability, VSoft's solutions are underpinned by a technology stack that is decades newer than those of legacy providers, offering unmatched efficiency and performance. With robust integration capabilities and a commitment to innovation, VSoft supports financial institutions worldwide in delivering seamless, high-volume, and high-performance transactions across multiple channels. For more information, visit
