Press release content from Globe Newswire. The AP news staff was not involved in its creation.
BURLINGTON, Mass., March 23, 2022 (GLOBE NEWSWIRE) — Aliaswire, a provider of bill payment and credit solutions for businesses and banks, today announced that its DirectBiller bill pay platform is featured in the Federal Reserve’s new FedNow Service Provider Showcase. The online resource connects financial institutions looking to adopt and innovate upon the FedNow Service, a new instant payment service that enables safe and efficient instant payment services.
DirectBiller is a SaaS solution that equips banks to offer commercial clients modern, custom-branded billing and payment experiences to their customers. Aliaswire will offer correspondent/settlement services and Requests for Payment (RfPs) through DirectBiller to organizations adopting the FedNow Service.
DirectBiller integrates with banks’ treasury management and clients’ ERP systems and manages the end-to-end process from invoicing through payment reconciliation. With DirectBiller customers can make automated, scheduled, or one-time payments by computer, voice, or mobile device, including text to pay. Both banks and their clients are supported by a dedicated support team.
“Speed is a huge driver of payment innovation today, and Aliaswire is at the forefront of some of the biggest advances in real-time account validation and verification, request for payment, and more convenient consumer channels,” said Jed Rice, CEO of Aliaswire. “With our solution, banks, businesses and consumers will be able to access the speed, convenience and other benefits the FedNow Service will provide when it launches in 2023.”
“We appreciate the commitment of Aliaswire to enable FedNow adoption and participate in the showcase,” said Nick Stanescu, Federal Reserve Bank senior vice president and FedNow business executive. “The time is now for organizations to identify and connect with the partners they’ll need to build the end-to-end solutions the market is demanding.”
About the FedNow Service
The Federal Reserve Banks are developing the FedNow Service to facilitate nationwide reach of instant payment services by financial institutions — regardless of size or geographic location — around the clock, every day of the year. Through financial institutions participating in the FedNow Service, businesses and individuals will be able to send and receive instant payments at any time of day, and recipients will have full access to funds immediately, giving them greater flexibility to manage their money and make time-sensitive payments. Access will be provided through the Federal Reserve’s FedLine®network, which serves more than 10,000 financial institutions directly or through their agents. For more information, visit FedNowExplorer.org.
“FedNow” is a service mark of the Federal Reserve Banks. A list of marks related to financial services products that are offered to financial institutions by the Federal Reserve Banks is available at FRBservices.org.
About Aliaswire, Inc.
Aliaswire is a fintech company based in Boston with a history of innovation in payments. The company supports leading financial institutions and merchant services providers with bill pay through DirectBiller® and small business credit solutions through PayVus®. For more information, visit https://www.aliaswire.com/.