Alviere rolls out embedded finance platform

Using this platform, brands will be able to drive revenue, retain loyal customers, and boost brand advocacy. Such a platform provides benefits for both the banks as well as the retail brands. Brands will be able to gain customers and revenue, while banks will be able to make their operations more efficient while still having access to customers for deposits and lender loans. Retail brands play the role of intermediaries between their customers and the banks.

Rather than seeing Alviere as a competitor, banks see the firm as an enabler that would spare them from handling client operations that are not very profitable daily while still bringing more customers into their fold. Thus, banks will have more time and resources to focus on products that are more profitable.

The number of bank branches in the US hit an all-time high in 2009, but this number dropped by more than 25% as banks closed down branches they had spent millions to set up as part of their bid to cut costs. Alviere’s CEO identified this decrease in access to bank branches as a gap in the market and came up with the idea of Alviere as a platform that retail brands could use to bridge this gap.

Alviere's platform is backed by an AI-backed monitoring system that offers security for real-time identification and fraud protection. Through a partnership with Alviere, brands can offer their customers a full range of payment solutions, including crypto and international transfers. Initially based in the United States, the firm is rapidly expanding to UK and EU markets after closing a USD 20 million Series A funding round in April 2021 and an additional USD 50 million in Series B investment in October 2021. Alviere also secured a funding partnership with Silicon Valley Bank in June 2022 to fuel its drive to cater to the exponential growth in the global demand for embedded financial services.