Cross-border payments
Alacriti’s solutions enable efficient, reliable cross-border payments, facilitating both international wires and Visa Direct capabilities for financial institutions. Our offerings ensure compliance, enhance user experience, and streamline operations, meeting the demands of a global economy without costly infrastructure changes.
Addressing the challenges of cross-border payments
Financial institutions face unique challenges with cross-border payments, such as varying regulations, high transaction and conversion costs, lack of visibility into the status of cross-border transactions, and complex operational processes. Alacriti’s Orbipay Payments Hub bridges these gaps by providing comprehensive cross-border payment capabilities, including:
- International Wires: Partnering with Convera and TransferMate, we support high-value international wire transfers, ensuring seamless processing across global correspondent networks.
- Visa Direct: We facilitate Visa Direct capabilities, allowing low-value cross-border transfers akin to domestic ACH.
Streamlined operations with a centralized Payments Hub
Alacriti’s approach consolidates domestic and international capabilities into a single platform, providing a unified interface for managing all payment types. This centralization results in:
Operational Efficiency
Automate and orchestrate payment processes on one platform, reducing manual processes.
Cost Savings
Intelligent routing options and automated processes help reduce transaction costs.
Real-Time Status Updates
Integrated tracking provides visibility into the status of cross-border transactions, reducing customer inquiries and enhancing transparency.
Consolidation of Wires
Unify domestic and international wires on one platform
Streamline Operations
Channel aggregation and automation for self-service, call center, and branch all in one platform. Business rules and approvals are all in one place.
Flexible integration and compliance
Our solutions seamlessly integrate with your existing systems and comply with regulatory requirements, ensuring:
- Fast Deployment and Integrations: Out-of-the-box integration with your existing banking systems and a quick implementation process in weeks
- ISO 20022 Standardization: Supporting interoperability and efficiency across global payment networks.
- Regulatory Compliance: Ensuring ongoing compliance today and into the future. Meeting Regulation E and Dodd-Frank requirements for consumer cross-border transactions with automated disclosure and documentation processes.
Enhanced user experience
Alacriti’s cross-border payment solutions are designed to meet the evolving expectations of users by providing:
- Reach: Visa Direct works on all eligible Visa and Mastercard debit and reloadable prepaid cards from nearly 16,000 financial institutions—over 2 billion cards globally. Through our partnership with Convera, international wires reach 120+ countries and 200+ currencies.
- Convenience: Users don’t have to do much when initiating payment. With Visa Direct, that means simply entering a card number. For international wires, customers can leverage templates to avoid duplicating effort.
- Real-Time Payment Status Updates: Users and agents can see the real-time status of international wires and Visa Direct payments, reducing calls about payment status.
Transforming cross-border payments
At a time of ever-increasing cross-border and wire usage, Alacriti’s cross-border payment solutions offer financial institutions the tools needed to stay competitive. By leveraging advanced technology and strategic partnerships, we enable a progressive path to modernization, ensuring financial institutions can meet the demands of their accountholders and have international viability and interoperability.
Case Study
Veridian
245%
Growth in RTP transactions
263%
Growth in RTP send
11
weeks – Time to deployment of solution
