ICBA Solutions-Directory

Alacriti, shared an update

Posted8 days AGO

Alacriti and Access Softek Partner To Deliver Instant Payments for Financial Institutions

Bridgewater, NJ, Nov 11, 2024 – Alacriti, a leader in payments solutions for financial institutions, announced its partnership with Access Softek today, a leading omnichannel digital banking solutions provider. The partnership will allow Access Softek to deliver cutting-edge payment solutions, including instant payments capabilities to financial institutions via the RTP® network and FedNow® Service fully integrated with its digital banking platform. This partnership seeks to modernize payment operations for financial institutions, addressing the growing demand for real-time money movement and unified payment systems.

As financial institutions face increasing pressure to adopt real-time capabilities, this collaboration enables them to process transactions in seconds, improve liquidity management, and enhance the overall customer experience. Together, Alacriti and Access Softek are poised to accelerate the adoption of modern payment solutions, helping financial institutions stay competitive and future-ready.

Integrating Alacriti’s Orbipay Payments Hub with the Access Digital Banking Platform enables financial institutions to benefit from frictionless real-time payment solutions integrated with their existing payment ecosystem.

Key benefits of the joint solution:

Enhanced User Experience: With real-time payment capabilities, institutions can meet consumer expectations for fast, reliable, and convenient services, giving users greater flexibility in how they manage their money.
Cost-Efficiency: Financial institutions can provide members with lower-cost money movement options compared to traditional wire transfers, enhancing overall member satisfaction while saving on transaction fees.
Enhanced Security and Reliability: The instant payment system operates on a good funds model, ensuring that accounts are validated for existence, standing, and sufficient funds in real time before transfers are made. This results in an exceptionally low rate of returns, with returns being optional, allowing financial institutions to add this transfer rail without imposing significant strain on back-office operations while enhancing transaction security.
Scalability and Incremental Modernization: This platform empowers financial institutions to stay ahead of evolving market demands, offering flexible solutions that can grow with their evolving needs.
Attracting New Customers: The integration of instant payment options enhances the appeal of financial institutions, enabling them to offer innovative and modern banking solutions that attract tech-savvy customers and small businesses seeking efficient and seamless payment experiences.

“We are excited to join forces with Access Softek, extending our reach and providing institutions with the tools they need to offer seamless real-time payments in various uses,” said Eric Kugle, Senior Director of Strategic Partnerships at Alacriti. “Orbipay Payments Hub enhances the Access Digital platform by adding instant payment capabilities that empower financial institutions to improve customer experience and drive growth.”

“At Access Softek, we are committed to delivering industry-leading digital banking solutions that exceed customer expectations. Partnering with Alacriti to offer Orbipay Payments Hub for Instant Payments aligns with our mission to provide cutting-edge, omnichannel solutions that enable real-time, seamless money movement,” said Anna Khalzova, VP of Strategic Relationships. “This partnership strengthens our ability to equip financial institutions with the technology needed to meet their strategic goals and future-proof their payments.”

Join us to learn about the joint solution in this webinar.

About Alacriti

Alacriti stands at the forefront of payments innovation, delivering comprehensive payment and money movement solutions to financial institutions. Our commitment is to empower our clients and their users with seamless, easy-to-use, and secure real-time payment experiences across all preferred channels, rails, types, and devices. Alacriti’s innovative solutions provide cutting-edge payment technologies that integrate effortlessly with existing infrastructures. Discover more about how we are transforming payments at Alacriti.com.

About Access Softek

Access Softek is a leading provider of omnichannel digital banking solutions, empowering financial institutions to deliver exceptional customer experiences. Access Digital, created by Access Softek, is a comprehensive platform designed to meet the evolving needs of modern banking. Access Softek is committed to innovation and industry-first solutions, partnering with clients to achieve their strategic goals.

Press Contacts

Alacriti
Kristen Jason
[email protected]

Access Softek
Charlotte Keppler
[email protected]

Read Less

Finding products and services that can improve your account holder’s satisfaction and engagement – while being cognizant of the operational impacts on your institution, can be hard to find. Loan payments hold a tremendous growth opportunity to provide both. Offering loan payments through your digital banking platform can unlock several benefits and efficiencies for both your FI and account holders, while also providing a sustainable approach to drive adoption, loyalty, and retention.

Join us for the next installment in our Product Showcase series, where you will hear first-hand experience from payments experts from Alacriti and Alkami on the proven strategies for integrating loan payments in digital banking.

my.demio.com

Product Showcase | Streamlining Loan Payments for Operational Efficiency and Cost Savings with Alacriti - Demio

Read Less

Alacriti is a leading financial technology company with a comprehensive money movement and payments services platform dedicated to helping clients accelerate their digital transformation. Built on a flexible, cloud-native framework, Alacriti’s array of solutions allows clients to deliver the money movement experiences and payments innovation that today’s users demand while seamlessly integrating with their internal infrastructures.

Read More Read Less

Orbipay Payments Hub

Automate and simplify payments through initiation and settlement in one centralized ISO 20022-based payment processing engine— across all payment rails. Orbipay Payments Hub delivers end-to-end payment orchestration and processing via TCH’s RTP® network, the FedNow® Service, Visa Direct, Fedwire, and ACH payment rails on a secure, unified, future-proof platform. The solution is fully integrated to all existing banking systems including core banking systems, OLB, data lakes, etc.

With a grow-as-you-go model, financial institutions can adopt rails at a pace that is best for their business and budget with the assurance that when they are ready, additional rails will be both fast and simple to implement. In addition, intelligent routing ensures payments are placed on the most cost-efficient rail at the required speed of the customer for each transaction.

The RTP network and the FedNow Service are new rails for many financial institutions. Alacriti handles the heavy lifting to connect to these rails, making the implementation process simpler, faster, and more efficient.

Orbipay Unified Money Movement

Alacriti provides a suite of unified payments solutions across every consumer touchpoint including:

• Loan payments (EBPP)

• A2A (Account-to-Account) Transfers

• Digital Disbursements (Payouts)

• New Account Funding

With everything in one place, customer service staff have the ability to see all money movement activity with centralized reporting and can access profiles, view transaction history, and schedule and manage payments and transfers on behalf of customers through role-based access.

Orbipay EBPP Loan Payment

Alacriti’s loan payment solution is part of Unified Money Movement. With Orbipay EBPP, you can accept loan payments from consumer and business customers with easy access to the payment channels, payment methods, and payment options they demand. This solution features a self-service portal for customers to quickly sign up for payments and an easy-to-use customer care portal for customer staff to assist with payments. Making it easy to pay accelerates receivables, reduces operating costs (e.g., a 50% decrease in cost per transaction), decreases call center volume, and improves customer satisfaction and retention.