RANCHO CUCAMONGA, Calif. – Co-op Solutions said it has added Alacriti to its recently launched Strategic Provider Program. The company provides loan payment services.
According to Co-op, the Strategic Provider Program “streamlines” a credit union’s procurement process by offering access to pre-vetted, best-in-class products and services outside of Co-op’s core solutions, “all at preferred commercial terms.”
Co-op said that through its core-agnostic, cloud-native platform Orbipay, Alacriti facilitates one-time and recurring loan payments through digital channels, including online/web, text message, chatbot and more. Orbipay supports virtually all payment methods (most commonly debit cards and ACH), as well as all loan types, Co-op stated, adding that members engage with the platform through a responsive user interface that can be branded for each credit union client.
Advances Strategic Intent
“Co-op’s partnership with Alacriti advances our strategic intent to deliver the innovative digital payment experiences today’s members demand,” said Dean Michaels, chief strategy officer for Co-op. “The Orbipay platform transforms what used to be a manual process and automates it, making it mobile-friendly. We have been impressed with Alacriti’s command of the tech-stack challenges facing credit unions. Their pre-built connectors and data integrations with major core and digital banking providers vastly accelerate client onboarding. Alacriti also worked with us to create an attractive pricing offer exclusively available to Co-op clients that should appeal to credit unions who already accept cards today as well as those who don’t.”
According to Co-op, credit unions that integrate the Orbipay platform add greater member self-service capabilities to their offerings. Members are able to make loan payments easily and without in-branch or other manual servicing needs, ultimately helping the credit union achieve operational cost savings, the company said.
Security & Convenience
In addition, Co-op stated the intuitive user interface balances security and convenience, allowing guest borrowers to seamlessly authenticate and make a one-time payment as a guest, or set up and manage a recurring payment plan under a registered user profile.
When member support is necessary, Orbipay offers credit union service representatives a range of digital features, such as single sign-on (SSO), borrower payment management and the ability to send payment links to borrowers, according to Co-op.
Shared Values
“We share the member-centric values of credit union lenders, which makes this partnership with Co-op especially meaningful to our team,” said Manish Gurukula, CEO, Alacriti. “The Strategic Provider Program will help us introduce more credit unions to our differentiated approach to loan payments. We’re grateful for the opportunity to expand our reach beyond the 105 credit unions we assist in payment modernization today with Co-op’s endorsement as a referral partner reaching nearly 3,000 credit unions.”
For Additional Information
Additional information on the Co-op Strategic Provider Program is available on its website. Co-op further said clients interested in connecting with providers can check out the “Meet our Partners” section of the program’s webpage. The Alacriti profile page can be found here.
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