Cloud-based payments and money movement services company Alacriti has partnered with digital banking solutions provider Lumin Digital to transform digital money movement solutions for financial organisations.
Through the partnership, both parties aim to support financial institutions with advanced payment functionalities, enhance operational efficiency, and offer superior customer or member service.
Lumin Digital product manager Ashley Weinke said: “By partnering with Alacriti, Lumin is able to provide our clients with core agnostic solutions to achieve their payment modernisation goals.
“The flexibility and scalability of Alacriti’s platform allow us to provide our clients with robust payment options that meet the evolving needs of their account holders.”
Alacriti’s integration of its Orbipay loan payment solution with Lumin Digtal’s digital banking solutions will allow the latter’s clients to deliver a frictionlesss loan payment experience.
Orbipay’s EBPP bill payment solution, on the other hand, will allow account holders to have better ability to manage and pay their loans with the convenience that consumers require.
Besides, the integration supports multiple payment methods, including Apple Pay, Google Pay, ACH, and card payments.
It will also facilitate payments through multiple channels like text and artificial intelligence (AI) chatbots along with one-time, recurring, guest, and autopay payment options.
The alliance between both companies will also add real-time account-to-account (A2A) transfer capabilities through an integration with Orbipay Payments Hub later in 2024. This will serve as a solution that includes connection to instant payment rails.
Alacriti strategic partnerships senior director Eric Kugle said: “By integrating Orbipay money movement services with Lumin’s platform, we are providing financial institutions with a powerful tool to enhance their digital payment services.
“This partnership reflects our commitment to delivering innovative payment solutions that drive efficiency and improve the user experience. The upcoming A2A transfer integration will further solidify our joint efforts to offer a flexible and modern payment solution.”
