Alviere’s embedded finance platform launches support for P2P transfers, direct deposit switch, Plaid

Rick Steves

“We’re constantly optimizing our platform through a combination of proprietary technology, and best-in-class partner integrations, ensuring a seamless implementation and customer experience. These new capabilities enable enterprises to provide more complete financial products to their customers.”

Alviere has launched three new platform updates in order to enable organizations to maximize the value of Alviere’s HIVE platform while providing powerful new financial tools to consumers.

The global embedded finance platform enables organizations to offer their customers enterprise-grade financial products and services.

Combination of proprietary technology and partner integrations

The three platform updates include P2P transfer support, direct deposit switch, and secure account linking through Plaid, a fintech that connects bank accounts to various software and applications.

Pedro Silva, co-founder and CTO of Alviere, said: “We’re constantly optimizing our platform through a combination of proprietary technology, and best-in-class partner integrations, ensuring a seamless implementation and customer experience. These new capabilities enable enterprises to provide more complete financial products to their customers.”

Tamara Romanek, Head of Partnerships at Plaid, said: “The opportunities for embedded finance are broad and we are just starting to scratch the surface. Partners like Alviere are making it easy for organizations to bring digital finance to their customers in context and at the point of need, which can drive loyalty and improve access to financial products.”

Person-to-Person (P2P) Transfer Support: Alviere’s payments functionality now supports Person-to-Person (P2P) transfers, allowing customers of an enterprise’s program to send funds from one person’s wallet to another within the Alviere ecosystem. Most importantly, person-to-person transfers are settled instantly, giving consumers access to funds faster than ACH transfers, which can take two or more days to complete. By meeting more of consumers’ daily financial needs, the enhanced P2P functionality will keep the customer within an enterprise’s financial ecosystem longer.

Direct Deposit Switch: Direct deposit switch contributes to customers’ continuous engagement with their accounts and is a leading driver of account profitability, but updating a bank account on file is traditionally laden with friction, fraud, and manual processes. With the launch of the Direct Deposit Switch SDK, enterprises can enable their customers to easily set up direct deposit to their account wallet, with options to deposit all or part of their paycheck. Customers can now seamlessly switch direct deposit from their current bank account to their new enterprise virtual account.

Secure account linking through Plaid: Consumers often use existing bank accounts to fund the opening of new financial accounts. Alviere’s partnership with Plaid makes it simple for customers to link their current account to a new Branded Bank Account, all within the same user experience. In addition to supporting Plaid’s iOS and Android platforms, Alviere now supports Plaid’s Web SDK, allowing enterprise clients to use the Web to link customer bank accounts to Alviere wallets.

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