Current migrates to Visa DPS Forward Platform; Innovative integration to enable suite of new financial products

New financial products to provide additional value to all members on Current

NEW YORK, Oct. 20, 2022 /PRNewswire/ -- Current, a leading U.S. financial technology platform, today announced it has successfully migrated to the Visa DPS Forward platform with a seamless migration of over four million accounts. DPS Forward is a digital issuer processing platform built with REST APIs and designed to integrate with modern, digital banking cores to create unique card programs and payment solutions. This innovative integration allows for a deeper partnership between Visa, the world leader in digital payments, and Current that will enable the introduction of new financial products to all members on Current.

The migration was completed on Current's proprietary core banking technology platform, which allowed for full control during the live payment network cutovers. Through close cooperation with Visa, the new features DPS Forward offers became immediately available to all Current members without issuing new payment mechanisms.

"DPS Forward is an ideal match for Current's cloud-based approach to financial services," said Trevor Marshall, Chief Technology Officer, Current. "It fulfills our need for a partner capable of delivering performance at scale, while maintaining the agility of a cloud-native platform. Building our own core banking technology stack has always given us more control over the experiences we provide and this direct integration with Visa puts us at the forefront of innovation in the fintech space. The efficiencies it provides allows us to maximize as a platform and enables us to provide even more value to our members."

DPS Forward combines issuer processing capabilities with a new suite of APIs that integrate with modern digital banking players to create unique card programs and payment solutions. This integration comes after Current and Visa signed a new agreement in 2021 with a long-term commitment to the planning and building of innovative financial products together.

"Visa is proud to work with companies like Current to help people achieve better financial outcomes for themselves and their families," said Todd Brockman, SVP and Global Head of Issuing Solutions at Visa. "Plus, Visa DPS believes the right payment strategy has the ability to go far beyond processing payments to increase efficiencies and revenues – helping all customers be elevated."

We are a leading U.S. financial technology platform serving the needs of Americans who are working to create a better future for themselves. Our mission is to enable members to change their lives by creating better financial outcomes. Leveraging the best technology, we deliver inspirational and motivational products as we all move forward in a world of increasing digitization and complexity. To learn more about us, visit https://www.current.com or download our app on the App Store or Google Play.

Current is backed by investments from Andreessen Horowitz, Tiger Global Management, TQ Ventures, Avenir, Sapphire Ventures, Foundation Capital, Wellington Management, QED Investors and EXPA.

Media Contact:
Erin Bruehl
Senior Director of Communications, Current
media@current.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/current-migrates-to-visa-dps-forward-platform-innovative-integration-to-enable-suite-of-new-financial-products-301655535.html

SOURCE Current