Alacriti Announces Cloud-Native End-to-End Solution for Faster Payment Experiences

Business Wire | October 23, 2020

Alacriti, a fintech company specializing in payments today announced its Cosmos for RTP solution, powered by the Orbipay Platform. Cosmos for RTP enables banks and credit unions to quickly and seamlessly connect to The Clearing House’s RTP® network and deliver innovative real-time payment services to their customers. Alacriti’s solution allows financial institutions to rapidly leverage the power and convenience of RTP to drive new revenue without the burden of significant infrastructure overhauls or capital investments.

Spotlight

Many people are concerned about experiencing an accident or a critical illness however they may be financially unprepared to address the situation when it occurs. The need is apparent; the average employee’s share of health care costs has increased more than 50% over the last five years.1 With higher premiums and the growth of high deductible health plans, few are immune to the financial burden of paying increased contributions to their medical benefits and many feel the pain of footing a larger share of their health-related expenses.

Spotlight

Many people are concerned about experiencing an accident or a critical illness however they may be financially unprepared to address the situation when it occurs. The need is apparent; the average employee’s share of health care costs has increased more than 50% over the last five years.1 With higher premiums and the growth of high deductible health plans, few are immune to the financial burden of paying increased contributions to their medical benefits and many feel the pain of footing a larger share of their health-related expenses.

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PAYMENTS

Roxe Partners with Nium to Power Seamless Real-Time Cross-Border Remittances and Payout Services in Key Global Markets

Nium | November 19, 2021

Nium, a leader in global payments and card issuance for businesses, and Roxe, the next-generation, open global payment network, today announced a strategic partnership that will allow Roxe to leverage the reach of Nium's network to pay out to key global markets, including from the US to Europe, the UK, Australia and Asia, in real-time. Nium supports payouts to as many as 190 countries (85 in real-time) in 100+ currencies and pay-ins to 35 markets. Foundational to Nium's global payments infrastructure is its license portfolio, with licenses in 11 jurisdictions globally and a robust suite of regulatory and compliance technologies. We are delighted to work with like-minded partners such as Roxe, to serve their mission of empowering banks, payment service providers and other connected financial institutions to provide real-time, low-cost payments and payment acceptance to their customers across the world." Michael Bermingham, Chief Business Officer and Co-Founder at Nium. Roxe unifies fragmented global payment systems to provide instant peer-to-peer global payments that do not rely on the correspondent bank model, leveraging the latest advances in blockchain and decentralized liquidity technology to deliver instant settlement on the blockchain, lower foreign exchange costs, and lower cross-border remittance costs. With an unmatched network to deliver global embedded financial services and the capacity to provide integrations in as little as four weeks, Nium provides the speed and scale for customers to unlock new revenue opportunities and improve cash flow economics throughout the global economy. "Our partnership with Nium enables us to better deliver on our promise of instant peer-to-peer payments that don't rely on the antiquated correspondent bank model. We pride ourselves on removing barriers so that financial value moves at unprecedented speed at much lower costs anywhere in the world. Partnering with Nium provides us an even more seamless, reliable, and cost-efficient experience for our global customers," said Thomas Trepanier, Managing Director of Roxe. Roxe's integration with Nium's payout capability will enable Roxe to provide expanded and streamlined real-time payment capabilities from the US to Europe, the UK, Australia and Asia. About Roxe Roxe is a global payment network that uses blockchain to make money smarter. Roxe's smart payment technology automatically selects the best route for the fastest, least expensive, and most reliable payments for any business or individual anywhere in the world. The company unifies fragmented global payment systems so that payment and remittance companies, banks, central banks, and consumers can get the speed and cost savings benefits of blockchain technology without directly transacting with cryptocurrencies. Roxe also removes barriers of time, geography, and currency so that financial value moves with unprecedented speed across the globe. Powered by Roxe Chain, a hybrid blockchain purpose-built for payments and other value transfer applications, Roxe also empowers its partners to offer their end customers ultra-fast remittance and payments products. Roxe is designed to be the fundamental component of the global payments industry and is compatible with any traditional and digital financial system. About Nium Nium is a leading embedded fintech company that provides banks, payment providers, and businesses of any size with access to global payment services via one API. Its modular platform powers frictionless commerce, helping businesses pay and get paid across the globe with services for payouts, pay-ins, card issuance, and banking-as-a-service. Once connected to the Nium platform, businesses have the ability to pay out in more than 100 currencies to over 190 countries - 85 of which in real time. Funds can be received in 27 markets, including Southeast Asia, UK, Hong Kong, Singapore, Australia, India, and the US. Nium's growing card issuance business is already available in 33 countries, including Europe (SEPA), the UK, Australia and Singapore. Nium owns the broadest license portfolio, covering 11 of the world's jurisdictions, enabling seamless global payments and rapid integration, regardless of geography. Nium was named to the CB Insights Fintech 250 (2020, 2021), which highlights the most promising Fintech companies globally.

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CORE BANKING

West Community Credit Union Elects Lumin Digital for Enhanced Digital Banking Services Provision

Lumin Digital | April 11, 2022

Lumin Digital, a PSCU company, declared today that West Community Credit Union (WCCU), based in Missouri, has signed a multi-year agreement for Lumin Digital's cloud-native platform for online and mobile digital banking solutions. Lumin Digital will support the credit union's more than 27,000 members by going live on the platform in October 2022. West Community Credit Union is an advanced financial institution that strives to build relationships based on trust by understanding the needs of its member along with smart solutions. With over a decade of consistent growth, the credit union understands the importance of providing a digital solution that provides a robust, personalized banking experience. Lumin Digital is a cloud-native digital banking platform that will offer credit union members an integrated and customized experience more than other larger financial institutions. Lumin Digital will assist credit unions, and financial institutions drive better engagement with their users through personalized recommendations and communication in expenditures, financial advice, fraud alerts, and savings goals. These services will be provided by focusing on user experience, service, safety, and security through sophisticated automation. Interestingly, credit unions can use Lumin to provide users with real-time updates and new features that would add value and simplify everyday banking. The team's wealth of industry knowledge, technological innovation and user experience testing will enable all of Lumin's offerings and capabilities. We're regularly in quest of new service offerings and technological capabilities to offer our members. And this partnership with Lumin Digital will allow us to provide them with a sophisticated and convenient way to access and manage their finances. This partnership made perfect sense for us based on Lumin's sterling reputation within the Fintech space and their platform's superior interface and functionality." Koren Greubel, Vice President of Marketing and Digital Engagement at West Community Credit Union West Community Credit Union and Lumin Digital share a passion for technology, service, and customer. This approach will help our clients and members feel confident, secure and engaged in their digital experiences. Our partnership speaks to the WCCU’s credibility built by their members for more than 85 years by always seeking new ways to enhance their offerings and financial solutions." Jeff Chambers, founder and CEO of Lumin Digital. Lumin Digital endures to drive innovation in the digital banking space and differentiates itself through technology for human connection. Lumin Digital's offering provides complete integration to a wide array of PSCU and other platform tools and capabilities, including rewards management, card services, and data analytics, to provide a member-centric experience.

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SECURITY AND COMPLIANCE

Glia Partners with LitLingo to Offer AI-driven Compliance Functionality for Financial Services

Glia, LitLingo | December 02, 2020

LitLingo Technologies, an AI organization giving proactive compliance and risk-mitigation technology and Glia, a main supplier of Digital Customer Service, are cooperating to offer AI-driven compliance usefulness to Glia clients. The objective of the joining is to guarantee specialists give the highest caliber of administration to clients while maintaining steady compliance with rules and rules set up by banks and credit unions. With the LitLingo offering, specialists utilizing Glia approach continuous restorative alarms to make a superior, more predictable experience for end-clients and diminished compliance risk for monetary foundations. “The most innovative financial institutions in the world trust Glia with their customer experience and this integration allows them to go the extra mile when it comes to compliance risk,” said LitLingo CEO Kevin Brinig. Glia's Digital Customer Service stage is an interchanges and cooperation arrangement that empowers monetary foundations to interface with clients and flawlessly speak with them through whichever channels they like, including informing, video and voice, and guide them utilizing CoBrowsing. This is completely overseen through a solitary interface, giving a reliable client experience over all channels while maintaining a similar discussion and setting in any event, when moved to an alternate virtual or human specialist. “Glia is excited to share how LitLingo has utilized our AI management platform to offer world-class agent-facing compliance and risk management for customer interactions—a unique use case in the AI provider market,” said Glia co-founder and COO Justin DiPietro.” It’s critical for today’s financial institutions to not only provide an exceptional customer experience, but to keep everything running smoothly from a compliance and accuracy standpoint.” By utilizing LitLingo's restrictive AI, Glia clients can decrease human blunder during collaborations with clients and gain bits of knowledge into compliance and NPS pain points. Glia clients presently approach LitLingo's checking programming that utilizes common language understanding to fathom complex language and distinguish explicit ideas. The net impact is better communications for end-clients and specialists the same, diminished help costs and decreased compliance risk or specialist turnover. LitLingo joins Glia's environment of AI-driven contributions that incorporate Amazon Lex, Google Dialogflow, IBM Watson, Microsoft Bot Framework and a large group of industry-and arrangement explicit AI technology suppliers. About LitLingo LitLingo is using AI to break through the limits of traditional compliance and risk-mitigation challenges. In addition to serving the financial services industry, LitLingo deploys a wide range of artificial intelligence models on top of corporate communications specializing in misconduct risk, industry-specific litigation risk, and regulatory risk in the technology, logistics, HR, and customer service verticals. LitLingo aims to make organizations better by proactively changing behavior and preventing risk instead of relying on expensive, retroactive remediation efforts. About Glia Glia is reinventing how businesses support their customers in a digital world. Glia's solution enriches web and mobile experiences with digital communication choices, on-screen collaboration and AI-enabled assistance. Glia has partnered with more than 100 financial institutions, insurance companies and fintech providers across the globe to improve top and bottom-line results through Digital Customer Service. The company has won numerous awards for its innovation - most recently recognized by Gartner as a Cool Vendor for 2020.

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