SOUTH PLAINFIELD, N.J., June 17, 2008 (PRIME NEWSWIRE) -- Alacriti, the technology experts in payment-related financial solutions, today announced the release of the OrbiPay biller direct software suite. OrbiPay is designed to help banks and large billers consolidate, collect and process payments across the enterprise while delivering significant cost savings.
Alacriti has been instrumental in developing and implementing one of the industry's largest biller direct bill payment solutions for one of the world's largest banks. Alacriti's solution has helped the company save more than $10 million during 2007 and will process about 120 million transactions during 2008. The extraordinary cost savings and flexibility of Alacriti's technology has made it possible for this bank to implement the enterprise solution across its credit card services, retail services, auto finance, mortgage and consumer lending business units for its North American operations.
At a time when many banks view online account management and bill payment services as a powerful competitive advantage, these financial institutions are motivated to reduce costs and gain control of payment operations. OrbiPay is optimized for in-house deployment by banks and large billers. Developed with a service-oriented architecture (SOA) and engineered to run as a web-based solution, OrbiPay is offered as a licensed software suite with flexible deployment models to serve the broadest spectrum of client needs.
* OrbiPay Enterprise: Deployed as a centralized system, allows
banks and other large billers to capture, aggregate and process
payments from multiple channels and business units.
* OrbiPay Exchange: Designed exclusively for banks' treasury and
cash management divisions, enabling them to provide value-added
bill payment services to their business customers that are
billers.
* OrbiPay Web: Allows companies to collect payments from their
customers over the internet in a biller-direct model.
"As business volumes increase and customers embrace financial services via emerging channels such as mobile devices, it becomes increasingly important for banks to develop enterprise payments architecture and infrastructure with flexible payment platforms," said Manish Gurukula, CEO of Alacriti. "Astute banks are positioning themselves as central players in the retail payments space by creating unified payment strategies. This holistic approach reduces costs, improves payment efficiencies and business intelligence, and eliminates redundancies across payment silos -- all while providing a consistent customer experience across channels."
Gwenn Bezard, research director with the Aite Group, added, "Most billers currently use a patchwork of applications to accept consumer electronic bill payments. The success met by Alacriti's customer shows there is a business case for consolidating disparate biller direct options onto one platform. More billers should feel encouraged to emulate that approach."
About Alacriti
Alacriti (www.alacriti.com) is a highly specialized company that develops and implements flexible payment related technology solutions. It addresses the needs of banks and financial services organizations through a portfolio of products, custom IT solutions, and business/technology consulting services. Based in North America with offices in Asia, Alacriti offers unparalleled expertise in the areas of enterprise payments, bill payments, de-coupled debit technology, cross-border payments, remittances and money transfer, and stored value cards.