Posted on 24 Jan 2019
Piscataway, NJ - Alacriti, a payment technology innovator, announces the addition of Digital Disbursements to its Orbipay® platform. Orbipay Digital Disbursements empowers businesses to send electronic payouts to their payees directly, reducing the time and costs associated with paper checks.
“Paper checks can represent a significant expense for businesses, especially those that issue payouts frequently, like property and casualty insurance companies,” says Manish Gurukula, CEO of Alacriti. “Orbipay Digital Disbursements allows businesses to reduce these costs by replacing the manual process of writing paper checks with faster electronic payouts that are deposited directly into payees’ bank accounts.”
Orbipay Digital Disbursements supports three scenarios – Straight-Through, One-Off, and Recurring Disbursements – that enable business-to-consumer (B2C) payouts regardless of whether payees’ bank account information is already on-file. Funds are delivered quickly via ACH, and payees can enroll to access their payout history and to receive email and/or SMS text message alerts and notifications about their payouts. The solution’s Payer Portal provides customer-facing staff easy access to payees’ profiles and activity, including in-depth reporting related to historic and upcoming payouts.
“Payers are looking for ways to reduce costs and improve the customer experience using digital payment methods,” explains Talie Baker, Senior Analyst with Aite Group’s Retail Banking and Payments practice. “And consumers are expecting faster, more convenient payments as well. Digital disbursement solutions are a key differentiator, if not already table stakes, for any 21st century organization making large volumes of disbursements.”
Gurukula adds, “We’ve seen the payments landscape undergo tremendous change, moving toward faster and more personalized transactions. Orbipay Digital Disbursements is designed to deliver that experience to the payout process as well. The solution facilitates quick, easy, and secure payouts that are built with payees in mind, ultimately leading to more satisfied customers.”
Please join the Aite Group and Alacriti on September 29 at 2:00 p.m. ET for a panel discussion on how insurers can leverage digital innovation to:
Join our webinar on August 26th at 2:00 p.m. ET where we will explore how you can quickly and effectively meet your members where they want beyond just traditional channels, expanding your revenue opportunities while seamlessly integrating with your existing infrastructure.
Helping shape the future of faster payments
Alacriti is a leading financial technology company dedicated to helping our clients accelerate their digital transformation.
Alacriti’s cloud-based platform, Orbipay, delivers solutions in the areas of electronic bill presentment and payments and digital disbursements, empowering our clients to provide innovative digital payment experiences today’s consumers demand. In addition to driving modern and frictionless digital payment experiences, our clients benefit from faster time to market and continuous innovation on a proven platform.