All posts by Ruhsora Magruf

Marketing Manager Ruhsora manages the marketing department and is responsible for execution of Alacriti's corporate marketing strategy. Ruhsora is a graduate of Rutgers University.

Apiture and Alacriti Partner to Deliver Customizable Digital Loan Payment Solution for Banks and Credit Unions

Apiture, a leading provider of digital banking solutions, today announced a partnership with Alacriti, a fintech company specializing in payments innovation, to empower credit unions and banks to seamlessly deliver modern, intuitive digital loan payments solutions. Through an integration with Alacriti’s Orbipay Platform, Apiture Xpress clients can now enable their customers and members to make loan payments via their preferred channels, methods, and frequency.

Built on Amazon Web Services, Alacriti’s Orbipay Platform offers industry-leading money movement experiences and flexibility. Customers can elect to make payments via mobile, web, IVR, guest pay, chat, and other channels and by ACH, debit, cash, and check. Users can also select the option of one-time, recurring, or automatic payments. Banks and credit unions using Apiture Xpress can leverage Alacriti’s Orbipay to integrate a brand-customized portal where customers and members can view, schedule, and manage their payment transactions such as electronic bill payments for auto and mortgage loans.

“We are thrilled to partner with Alacriti to deliver an innovative money movement solution to our clients,” said Chris Babcock, CEO of Apiture. “Both Apiture and Alacriti share a passion for transforming outdated, manual processes to provide customers with the improved digital experiences they expect in both their business and personal lives.”

Access to agile money management solutions is increasingly critical to consumers and providers alike. According to The Speed of Money report, sponsored by Alacriti, 21 percent of respondents report that they have abandoned a financial transaction because it would take too long. The Alacriti partnership provides credit unions and banks with a seamless and scalable payment solution that will allow Apiture’s clients to accelerate cash flow, improve customer experience, satisfaction, and retention, and streamline payment processing and settlement.

“Given the shared vision we have with Apiture to bring innovative digital money movement solutions to credit unions and banks, and the volume of relationships they hold in the industry, this partnership was an easy choice,” said CEO of Alacriti Manish Gurukula.

This latest partnership brings Apiture, Alacriti, and Glia, a leading provider of digital customer service, into the same orbit, seamlessly integrating access to resources to help customers and members to navigate the digital payments experience. Apiture recently announced a partnership with Glia debuting Apiture Xpress Live, which enables clients to tap into enhanced chat functions, video and voice banking, and screen sharing to communicate with customers. Similarly, Alacriti announced its partnership with Glia in 2020, launching their payments-focused AI chatbot: Ella.

About Apiture

Apiture is a leading provider of digital banking solutions. Apiture provides financial institutions with the integrations, capabilities and resources that banks and credit unions have not had access to in the past. Offering two differentiated digital experience platforms, Apiture Xpress and Apiture Open, Apiture develops innovative solutions that can be used by financial institutions of any size. Apiture serves hundreds of financial institutions in the United States market. The company is headquartered in Wilmington, North Carolina, with offices in Austin, Texas.

About Alacriti

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 allow clients to deliver the money movement experiences and payments innovation that today’s users demand, while seamlessly integrating with their internal infrastructures.

Maximizing the Member Experience Through Payments

Indirect members represent a tremendous opportunity for credit unions, and their loan payment experience is often their first interaction. When that experience is efficient and convenient, that can lead to those members opening new accounts or loans as direct members.

Dustin Kizer, Alabama Credit Union Digital Services Director, and Carl Robinson, Alacriti Payments SVP, discussed how to maximize the member experience through payments transformation on a webinar hosted by CUInsight.

Submit the form and access our latest webinar recap article.

Credit Unions: Growing with Small Businesses Through Payments

Businesses are becoming more aware of how to use payments as a market differentiator and subsequently recognizing when their financial institution is not able to help them keep up with the industry, particularly direct competitors. As part of this, payments are shifting not only from checks to electronic payments but from electronic payments to MORE electronic payments.

Please join Aite-Novarica Group and Alacriti on Wednesday, December 1, 2021 at 2:00 p.m. ET, for an in-depth discussion hosted by Credit Union Times on:

  • Recent Aite-Novarica corporate research on small business adoption of electronic and faster payments
  • How credit unions can gain market share by educating small business clients on how to use payments technology
  • The potential opportunity cost of not modernizing to keep up with market demand
  • Recommendations on what credit unions can do to optimize their electronic payments
  • Register

Simplifying Your Payment Strategy

The expectations for modern digital payment and money movement capabilities and experiences are accelerating. Driven by digital experiences in their consumer lives, members are expecting to have the same, frictionless experiences in their financial lives whether they’re making a P2P transfer, funding a new account, or paying a loan (which is often the experience that dictates whether an indirect member becomes a direct member).

Unfortunately, many of today’s credit unions are struggling to keep up with these expectations. This gap is allowing traditional competitors, as well as digital wallet providers, challenger banks, and fintechs to prevail. Join us on Tuesday, November 30, 2021, at 10:30 a.m. ET to hear from Mark Ranta, Payments Practice Lead at Alacriti and learn:

  • How COVID-19 has raised the bar for what members expect for digital service
  • The limitations that legacy payment technology brings to the member experience
  • How you can operate all of your existing financial services technology on a single platform
  • Real-life use cases for payments modernization for members
  • Recommendations for planning for 2022

Register

Top Payment Trends to Watch in 2022

As 2021 comes to a close, it’s time to reflect on the year and what we can expect in 2022 for payments. COVID-19 has accelerated digital transformation and impacted (and still is) the payments industry tremendously. This, alongside the rise of real-time payments, means that consumers and businesses continue to experience a great deal of change in how they pay and are paid.

In this webinar playback, speakers from Mercator Advisory Group and Alacriti discussed what payment trends are anticipated in 2022. The webinar also covered:

  • A review of the changes caused by COVID-19 and what we can expect to continue in 2022
  • What a modern payments experience looks like in other countries, and what we can expect to make it to the U.S.
  • What transaction volumes for real-time payments and faster payments overall will look like
  • The significance of API-driven architecture, microservices, and ISO 20022 standards
  • More on digital wallets, digital banks, and frictionless payments
  • Recommendations on preparing for next year

AFP 2021

Alacriti is looking forward to attending and exhibiting at AFP 2021, the country’s largest gathering of corporate treasury and finance professionals. At this event, attendees can choose from a large selection of educational sessions and network with their peers.

Come see us at Booth #601 to speak with our team about how we can help your organization deliver modern digital payments and money movement experiences. Also, enter our giveaway for a chance to win a ASUS portable monitor!

The Association for Financial Professionals (AFP) is an organization dedicated to the development and education of finance professionals. This year’s conference will take place November 7-11 virtually and November 7-10 in-person in Washington, D.C.

Alacriti and Alkami Announce Partnership to Bring Unified Money Movement Services to Credit Unions and Banks

Alacriti, a fintech company specializing in payments and money movement solutions, has partnered with leading digital banking solutions provider Alkami to deliver modern, frictionless digital payments and money movement services to credit unions and banks. Through this strategic partnership, Alacriti has integrated its Loan Payment platform, part of Orbipay Unified Money Movement Services, into the Alkami Digital Platform, powering seamless experiences to credit union members and bank customers.

“This partnership brings the power of our highly customizable digital payments and money movement technology to the banking ecosystem through Alkami’s userbase. Together, Alkami and Alacriti will enable banks and credit unions to quickly and seamlessly deliver modern, intuitive digital loan payments across multiple payment channels. Alacriti’s Unified Money Movement Services include: A2A transfers, P2P payments, bill pay, disbursements, and real-time payments,” stated Manish Gurukula, Alacriti CEO.

Alkami’s Co-Founder and Chief Strategy & Sales Officer Stephen Bohanon said, “We’re excited to offer Alacriti’s Orbipay Loan Payment Services to our new and existing banking and credit union customers. In addition, Alacriti’s real-time money movement platform is fully integrated with the Alkami Platform, enabling a fast, cost-effective path to delivery and a future-proof foundation for innovation. This partnership further supports our focus on accelerating digital transformation to drive growth for our client community.”

About Alacriti

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 allow clients to deliver the money movement experiences and payments innovation that today’s users demand, while seamlessly integrating with their internal infrastructures.

About Alkami

Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently, adapt quickly and build thriving digital communities. The Alkami Platform is the digital banking and fraud mitigation platform of choice for over 260 financial institutions. Alkami’s investments have resulted in a premium platform that has enabled it to replace older, larger and better-funded incumbents and provide clients with world-class experiences reflecting their individual digital strategies.

To learn more about Alkami or to request a demo, visit alkami.com.

Maximizing the Member Experience Through Payments

The loan payment experience for your credit union is often the first impression. When it’s done right, indirect members love the experience—leading to opening new accounts or loans as direct members. However, when it’s inefficient and cumbersome, it can lead members to look elsewhere to meet their financial service needs.

In this webinar, hosted by CUInsight, Alabama Credit Union and Alacriti will walk you through maximizing the member experience through payments transformation and discuss the benefits on the other side, including:

  • How to improve your loan portfolio’s performance
  • How to lower servicing costs via digital transformation
  • Expanding the indirect loan portfolio with digital tools
  • What members are expecting from modern money movement experiences
  • The Speed of Money: Why It Matters for Financial Services Professionals

    Customers are increasingly demanding faster money movement. The evidence is here— they are actively abandoning financial transactions that take too long to complete due to slow money movement speeds/new account funding.

    To learn how impactful the speed of money movement is on financial transactions, and where both risks and opportunities present themselves, submit the form on the right to download American Banker’s summary of the research.

    This executive summary contains practical advice on how your organization can approach faster money movement and reviews what happens when money doesn’t move fast enough—consumers abandoning transactions—and who’s abandoning them at higher rates. It also covers how big the issue has become in today’s instant gratification attitude (“I need it now”) and more.

    How to Have More Valuable Loans

    For the first time, credit unions surpassed $1.2 trillion for their total loan portfolio in April 2021. Total year-to-date loan originations increased by more than 20% in dollar terms over each of the past two years. This is an incredible achievement. However it’s important to ensure the success of the loan—from open to payoff.

    In a recent webinar hosted by CUInsight, Mary Woodard, Chief Operating Officer of Granite Credit Union, and Mark Ranta, Payments Practice Lead for Alacriti, discussed how credit unions could have more valuable loans through digital transformation.

    Download this article for a recap of the webinar.

    Money Is Moving Faster: Is Your Institution Keeping Pace?

    We are at the forefront of a major shift in how money moves within the banking and financial sectors, driven by consumer demand and technological capability. Based on recent consumer research from American Banker (Arizent), we know that consumers are looking for: faster payouts and financial transactions, low-cost/no-cost money transfers or bill payment services, and secure but easy-to-use identity authentication.

    In this webinar, American Banker and Alacriti discuss results of the research report, Money Movement and the Future of Financial Services, and what financial institutions should be thinking about now, including:

  • Consumer experiences and expectations of financial transactions
  • What happens when organizations fail to meet fast money expectations
  • Preferences for ID authentication methods
  • Consumer subpopulations driving change
  • Don’t miss this opportunity to learn what your customers are doing and thinking when it comes to their money, as financial institutions that fail to heed the call for speed may open the door for a rival.

    Annual Chicago Payments Symposium

    Alacriti’s Payments Expert, Mark Ranta, will be speaking on the Innovation & Open Banking Panel at the Chicago Payments Symposium, taking place virtually on September 28-29, 2021.

    The payments system is changing substantially, facilitated by innovations in information technology. The Chicago Payments Symposium provides an independent forum to learn from leaders from across the payments ecosystem and experience engaging dialogue on the industry’s current state and exciting future.

    To learn more about Chicago Payment Symposium, visit chicagopaymentssymposium.org

    Transforming the Digital Customer Experience

    Consistent, modern digital banking and payments experiences are now table stakes. Digital wallet providers, fintechs, and challenger banks can now deliver intuitive, customer-centric banking experiences such as embedded lending, real-time payments, and direct payroll deposit—and they are entering the market at an alarming rate.

    In today’s landscape, what are customers really expecting for next-level service in payments? In a recent webinar hosted by ICBA, Carl Robinson, Payments SVP at Alacriti, and Jenn Markus, Director of Technology Partners at Glia, discussed the answer to this question.

    To read more, download our latest webinar recap article.

    Alkami Client Conference 2021

    Alacriti is thrilled to sponsor and attend Alkami’s Virtual Client Conference 2021 on September 13 through September 14. We’re excited and look forward to connecting with attendees and chatting about Alacriti’s Unified Money Movement platform.

    At this year’s event, get to know what’s next for the Alkami Platform and the payments industry. Access exclusive platform training with Alkamists and learn from Alkami clients and digital banking subject matter experts to adapt to the latest trends.

    To learn more about Alkami and the 2021 Client Conference, visit their website.

    Veridian Credit Union Partners With Alacriti for Real-Time Payments and Fedwire Modernization

    Veridian Credit Union, a full-service financial cooperative with $5.5 billion in assets and more than 260,000 members, has selected Alacriti, an innovator in cloud-based payments and money movement services, as the platform provider that Veridian will use to enable real-time payments over The Clearing House’s (TCH) RTP® network and to accelerate their Fedwire modernization.

    Veridian will deploy Alacriti’s cloud-native, ISO 20022-based Cosmos Payment Services, a cost-effective, end-to-end solution for payments processing and settlement. Cosmos supports real-time payments on the RTP network, ACH, and Fedwire payments, giving Veridian a scalable, future-proof platform for payments innovation. By leveraging Cosmos Payment Services, Veridian will access multiple clearing and settlement networks from one unified platform, simplifying their payment operations and ushering payments transformation into the credit union.

    “Our members rely on Veridian to rapidly deploy technology solutions to improve their digital experience. Real-time payments will allow members to securely move money faster than ever before,” said Brett Engstrom, Veridian’s CIO. “Leveraging Alacriti’s open API and scalable architecture, we’re able to deliver faster payments for both our individual and business members.”

    “Two innovative companies working together to connect to the RTP network is what we had in
    mind when we introduced the TPSP model as a method for financial institutions to join the
    network. TCH is excited to see what payments innovations this partnership brings to the
    network,” said Keith Gray, Vice President, The Clearing House.

    “This partnership is notable as it pairs Alacriti, Veridian Credit Union, and their FinTech members together in the driver’s seat for the rapidly advancing real-time payments market. By leveraging our Cosmos Payment Services, Veridian will be able to quickly deploy their new payments infrastructure and start driving innovation on the RTP network this year, the first of many notable achievements I am sure we will accomplish together,” said Manish Gurukula, Alacriti CEO.

    How to Have More Valuable Loans

    The ongoing low-interest rate environment has continued to drive both interest and volume in most credit union loan portfolios. Getting the loan on your books is just the first step, but what happens once the ink dries is just as important to your institution. It’s important to ensure that your credit union’s loan portfolio is successful, and focusing on the entire lifecycle of the loan from open to payoff is key.

    In this webinar hosted by CUInsight, Granite Credit Union and Alacriti talk through the entire lifecycle from opening to disbursement all the way to the final payoff and share how fintech providers can help you improve the performance of your portfolio and give you the keys to improve member experience at the same time. Speakers also covered:

  • Why the user experience is so important for credit union loan portfolios
  • How credit unions can lower servicing costs for their loans
  • How Granite Credit Union drove digital bill pay adoption
  • Fighting disintermediation from digital wallet providers and challenger banks with Unified Money Movement
  • Aligning your digital transformation with your money movement experiences
  • Transforming the Digital Customer Experience

    Consistent, modern digital banking and payments experiences are now table stakes. Digital wallet providers, fintechs, and challenger banks can deliver intuitive, customer-centric banking experiences like embedded lending, real-time payments, and direct payroll deposit—and they are entering the market at an alarming rate. In today’s landscape, what are customers really expecting for next-level service in payments?

    In this ICBA hosted webinar, Alacriti and Glia discuss payments modernization that covers:

    • Market divergence in digital financial services
    • What disintermediation means today
    • What payments modernization means when it comes to money movement
    • How RTP can better serve customers when it comes to payroll, P2P and A2A transfers, disbursements, and business
    • What customers expect for true digital customer service

    Real-Time Payments in the U.S. Market: Speeding up or Slowing Down

    The U.S. has come a long way to get to where we are today with real-time payments, with TCH and Zelle available in the market and FedNow just around the corner. However, only 3% of financial institutions are presently signed up for a real-time payments system.

    In a recent Banking Exchange hosted webinar, Celent’s Gareth Lodge, Senior Analyst, Global Payments, and Alacriti’s Mark Ranta, Payments Practice Lead, discussed the findings in the Celent research report Real-Time Payments in the US: Speeding Up or Slowing Down?

    Download this article for a recap of the webinar.