Alkami and SWIVEL augment payments for financial institutions

Alkami Technology (Alkami), a cloud-based digital banking solutions provider for financial institutions in the US, announced 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 now easily take advantage of SWIVEL’s loan payments capabilities, offering their account holders the benefits of greater choice, speed, and flexibility when it comes to their loan payment options.

Commenting on this partnership, officials from SWIVEL said that many financial institutions suffer from a lack of payment options for consumers to pay loans and a lack of integration with client systems. They are happy 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.

Enhanced payment solutions for financial institutions

SWIVEL’s Payments Processing solution offers financial institutions a convenient and efficient way to originate, track and process automated clearing house (ACH) and card-based payments. As a result of this partnership, Alkami’s financial institution clients can benefit from:

• A flexible, self-serve payment experience, allowing users to make loan payments with their choice of payment methods and types;

• Reduced call centre volume associated with payments processing, leading to increased payment volume and adoption;

• Secure and reliable loan payment transactions, backed by SWIVEL’s complimentary unusual activity monitoring service;

• Assurance that all payments are processed in adherence with network rules and card guidelines;

• Settlement of all payment channels through a single source, posting payments directly to the loan;

• A fully responsive, white-labeled loan payment portal, optimised for web and mobile.

Alkami’s representatives explained that their partnership with SWIVEL means they can continue to offer their bank and credit union clients more choices, speed, and flexibility when it comes to payment options for their account holders – a benefit that they know end consumers are increasingly coming to expect.

What does SWIVEL do?

SWIVEL is a financial technology and services company providing specialised, integrated transaction enablement solutions that remove friction for account holders, borrowers, and departments across financial institutions, as well as collections agencies and offices, while also mitigating risks associated with payments processing in the digital environment and moving funds in digital domains.