Alkami, a cloud-based digital banking solutions provider for financial institutions in the U.S., announced this week that it has formed a partnership with SWIVEL. Through Alkami’s single sign-on integration with SWIVEL’s Transaction Enablement Platform, Alkami’s bank and credit union clients can access their new partner’s loan payment capabilities.
“Today, many financial institutions suffer from a lack of payment options for consumers to pay loans and a lack of integration with client systems,” said Jason O’Brien, chief executive officer at SWIVEL. “We are excited to partner with Alkami to help alleviate these challenges for their financial institution clients, enabling them to provide a payment experience for account holders that is convenient, and in a self-serve manner with their choice of payment methods and types.”
SWIVEL’s Payments Processing solution offers financial institutions a way to originate, track and process automated clearing house and card-based payments. Benefits include:
- A flexible, self-serve payment experience, allowing users to make loan payments with their choice of payment methods and types;
- Reduced call center volume associated with payment processing, leading to increased payment volume and adoption;
- Settlement of all payment channels through a single source, posting payments directly to the loan;
- A fully responsive, white-labeled loan payment portal, optimized for web and mobile;
- Assurance that all payments are processed in adherence with network rules and card guidelines; and
- Secure and reliable loan payment transactions, backed by SWIVEL’s complimentary unusual activity monitoring service.
“Our partnership with SWIVEL means that we can continue to offer our bank and credit union clients more choices, speed and flexibility when it comes to payment options for their account holders – a benefit that we know end consumers are increasingly coming to expect,” said Jeff Chen, vice president, product management at Alkami. “Our work with (them) also highlights Alkami’s commitment to actively partnering with innovative fintech companies that many of our clients and prospects already use and prefer, making financial institutions’ back-end experience even more seamless.”
SWIVEL is a financial technology and services company providing specialized, integrated transaction enablement solutions that remove friction for account holders, borrowers, and departments across financial institutions, collections agencies and offices. The company is a wholly-owned subsidiary of SWBC.
