Key takeaways:
- Comerica became an early adopter of The Clearing House’s revised rules for domestic On-Behalf-Of (OBO) payments on the Real-Time Payments (RTP®) network, enabling third-party payment origination with full transparency and compliance.
- A once time consuming process is now streamlined into a single, automated action; delivering speed, transparency, and a better client experience.
- Comerica delivered the initiative in just 17 business days, demonstrating unmatched agility and cross-functional execution.
- The collaboration with Monex USA sets a new standard for how banks can support fintechs and Money-Service Businesses (MSBs) with scalable, real-time payment infrastructure without sacrificing personalized service.
In today’s fast evolving financial landscape, businesses are demanding more than just speed; they want transparency, flexibility and a bank who understands their unique needs. Comerica Bank’s recent collaboration with Monex USA to implement RTP OBO capabilities is a powerful example of how Comerica delivers innovative solutions with a personalized approach.
The challenge: A complex payments ecosystem
Monex USA is a leading non-bank provider of global payment and foreign exchange (FX) solutions. As a registered MSB, Monex facilitates cross-border transactions for a diverse client base, including financial institutions, corporations, and intermediaries who serve individual consumers.
Their business model involves a layered structure:
- Monex serves intermediary clients, such as financial platforms or service providers.
- These intermediaries, in turn, serve end users who request disbursements.
When an end user requests a payment the process previously required coordination across all three tiers. Each party had to generate and transmit a separate file format, resulting in a five-step, file-based workflow. The final payment was then processed via wire transfer due to limitations in legacy systems and compliance rules.
This approach was not only slow and costly, it was operationally burdensome and lacked the transparency today’s clients expect
The solution: RTP OBO via API
Comerica introduced a transformative solution: an Instant Payments API supporting RTP OBO transactions. This allowed Monex to consolidate the entire payment process into a single API call, eliminating manual file exchanges and enabling real-time disbursements. OBO payments create faster working capital cycles, with on-demand payroll and vendor payouts, transforming how businesses manage cash flow.
The RTP OBO model empowers trusted third-parties to initiate payments on behalf of another legal entity unlocking new use cases across payroll, insurance, embedded finance and B2B orchestration.
“When Monex first started looking for a bank, we needed more than just a provider; we wanted someone who would collaborate with us."
-Mike Valadakis, Head of Partnerships & Digital Markets, Monex USA
Execution excellence: 17 days to market
Comerica’s commitment to being an early adopter of the OBO rule change was a strategic priority. This was demonstrated by Comerica’s ability to complete the technical build and customer implementation in just 17 business days, executing over 15 coordinated technology releases and, ultimately, delivering ahead of schedule.
The solution was developed internally, with middleware built from scratch alongside FIS’s execution engine used as a vendor component. With OBO transactions, Marketplaces and fintechs can accelerate worker payouts, enhance treasury efficiency, and reduce reliance on traditional payment processing.
“We went with Comerica because we needed access to the real-time payment network. Comerica has given us the ability to plug into that network and deliver payments effectively.”
- William Vigliotta, Director of Operations, Monex USA
The Comerica model: Cross functional, Client first
What made this project successful wasn’t just the technology it was the people. Comerica brought together a cross-functional team spanning relationship management, treasury management, product management, compliance, implementation and client services. This collaborative approach is not the exception, it’s the Comerica model.
Comerica’s OBO framework positions RTP as a fully scalable solution for corporate treasury, payroll, and vendor disbursements, addressing key barriers to mass adoption.
Comerica worked together with the Monex USA team including their leaders Mike Valadakis, Head of Partnerships and Digital Markets, and William Vigliotta, Director of Operations, to ensure the solution was not only technically sound but operationally aligned.
“This wasn’t just about technology, it was about understanding Monex’s business model and designing a solution that fit their operational reality.”
- Larry Chapman, SVP, Financial Services Relationship Manager, Comerica Bank
Looking ahead: A vision for the future of finance
Comerica’s RTP OBO initiative is a step towards reshaping how money moves in the modern economy. As real-time payments become the new standard, Comerica is committed to building a future where speed, transparency and trust are not trade-offs, but expectations.
Comerica Bank’s On-Behalf-Of Payment Solutions on the RTP network streamline instant B2B and B2C disbursements, unlocking frictionless real-time settlements.
"RTP OBO payments unlock real-time disbursement use cases at scale, such as payroll and benefits, marketplace payouts, embedded payments, and more. We are excited to participate in an ecosystem that enforces transparency of funds."
- Allysun Fleming, Executive Director of Payments, Comerica Bank
Conclusion: A new standard for Fintech relationships
The Comerica and Monex collaboration proves that banks can deliver enterprise-grade innovation with personalized service, and that relationship banking still matters in a digital-first world. Comerica’s collaboration with Monex USA demonstrates how traditional banks and fintechs are building next-gen RTP capabilities for domestic transactions.
This information is provided for general awareness purposes only and is not intended to be relied upon as legal or compliance advice.
This article is provided for informational purposes only. While the information contained within has been compiled from source[s] which are believed to be reliable and accurate, Comerica Bank does not guarantee its accuracy. Consequently, it should not be considered a comprehensive statement on any matter nor be relied upon as such.