Savings Achieved Through DirectBiller® Real-Time Bank Account Validation Service

Helps billers avoid high costs of new ACH requirements

BURLINGTON, MA, JUNE 8, 2022Aliaswire, a provider of bill payment and credit solutions for businesses and banks, shared early results today from its work with leading banks and their commercial clients to reduce the cost of new ACH bank account validation requirements. Many billers are unprepared for the additional transaction costs triggered by the new regulation, which went into effect in March 2022.

Aliaswire’s DirectBiller bill pay platform has built a large, proprietary database of known bank accounts which it uses to validate transactions instantaneously and at no cost to the biller. In the event an account number is not recognized, Aliaswire draws on Nacha’s Phixius platform to quickly validate the account. Fees are charged only when the Phixius platform is accessed during the validation process. The proprietary database uses platform-wide validation and transaction activity to keep itself up to date.

Most payment service providers have not built a database of validated bank accounts, forcing billers to pay an additional fee on every customer payment they receive, whether that account has been validated before or not. This is especially wasteful for billers with recurring customers such as utilities, insurance carriers, and property management companies. Within the first five months of using DirectBiller’s Real Time Bank Account Validation service, on average billers reduced the number of accounts requiring paid validation from 30% to 10%.

DirectBiller Bank Account Validation Results: Jan. – May 2022

 

First 30 Days

After 150 Days

% of total payments requiring third-party validation, e.g., Phixius

30%*

10%*

Compliant transactions with no delays to processing time

100%

100%

 

*DirectBiller Real-Time Bank Account Validation uses its proprietary database to validate the remaining accounts saving the cost of validation vs. service providers that use third-party services. 

 

In addition to validating accounts, DirectBiller’s Real Time Bank Account Validation service also enables faster payments and reduces returns by eliminating prenote and micro-deposit validation methods and the delays associated with them.

The real-time BAV solution is offered both as a standalone service, and as a standard feature within its DirectBiller platform. DirectBiller equips banks to offer their commercial clients custom-branded billing and payment experiences to their customers. The platform manages the end-to-end process from invoicing through payment reconciliation and integrates with banks’ treasury management systems and their clients’ ERP systems.

“The new account validation requirement enhances the reliability and security of ACH transactions,” said Nirmal Kumar, Chief Technology Officer at Aliaswire. “With DirectBiller BAV, we are able to eliminate the additional costs involved, while providing a future-ready payment infrastructure that delivers increasing efficiency and savings over time, especially for businesses with recurring bills.”

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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/.

Media Contact
for Aliaswire
Tim Walsh
timw@walshgroupmarketing.com
617.512.1641

Aliaswire Appoints New CFO

Brian Bartlett joins fast-growing fintech

BURLINGTON, MA, APRIL 7, 2022Aliaswire, a provider of bill payment and credit solutions for businesses and banks, today announced the appointment of financial veteran Brian Bartlett as CFO. In his role, Bartlett will be responsible for financial operations, planning and reporting, human resource management, and helping to shape overall strategy and direction.

Bartlett’s experience spans 20 years as an entrepreneurial-minded finance leader with exceptional operational, analytical and planning skills coupled with a roll-up-the-sleeves, can-do mentality. He brings significant experience in start-up, early- and growth-stage companies across high tech, professional services and biotech. His background also includes raising capital, M&A and business development.

Most recently, Bartlett was Chief Financial & Accounting Officer at AZTherapies, a clinical stage biotech focused on the treatment of neurodegenerative diseases. Previously, he was Partner at The DMF Group, providing across-the-board financial, strategic and operational consulting services to start-ups and early-stage companies. Prior finance roles include MembersFirst, a SaaS and professional services provider, GetConnected, a SaaS-based order processer for digital service providers and retailers, Houghton Mifflin, a leading educational publishing company, and edocs, one of the early innovators in the online self-service and payment space.

“Brian brings a great combination of financial operational abilities and strategic mindset on how we can best fuel the growth of our company,” said Jed Rice, CEO of Aliaswire. “He has demonstrated the ability to elevate the finance function from transactional and tactical to trusted strategic business partner. And he’ll be key in the next stage of our evolution as a company.”

“It’s a really exciting time to be joining Jed and the rest of the Aliaswire team,” said Bartlett. “The company’s recent performance has been exceptional, and I believe we are very well positioned in the market as payments become an increasingly strategic aspect of the relationship businesses have with their customers – both B2B and B2C.”

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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/.

Media Contact
for Aliaswire
Tim Walsh
timw@walshgroupmarketing.com
617.512.1641

Featured in Federal Reserve’s New FedNow Service Provider Showcase

BURLINGTON, MA, MARCH 23, 2022Aliaswire, 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.

To learn more, visit Aliaswire’s profile in the FedNow Service Provider Showcase on FedNowExplorer.org.

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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/.

 

Media Contact
for Aliaswire
Tim Walsh
timw@walshgroupmarketing.com
617.512.1641

Aliaswire Delivers Record Results Providing Digital Pay to Bank Partners

NEWS RELEASE

Results highlight growing opportunity for banks to
generate revenue and retain clients with low investment

BURLINGTON, MA, MARCH 8, 2022Aliaswire, a provider of bill payment and credit solutions for businesses and banks, today announced record 2021 results, doubling its total revenue and headcount for the year. The company’s growth was fueled by its DirectBiller digital bill pay platform, which equips banks to offer their commercial clients a modern, custom-branded billing and payment experience to their customers.

For the 12 months ending Dec. 31, 2021, Aliaswire saw a 400% increase in the number of payments made on DirectBiller and a 70% increase in the total dollar value of payments processed vs. the same period in 2020. The biggest drivers of these increases were from major utilities, insurance companies and the public sector. Aliaswire currently supports over 800 businesses on the platform and an annual processing run rate of nearly $6 billion.

DirectBiller is a software-as-a-service (SaaS) platform that manages the end-to-end process from invoicing through payment reconciliation and integrates with banks’ treasury management systems and their clients’ ERP systems. Businesses can send digital bills, accept digital payments, and receive funds the next business day. Their 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.
“Both businesses and consumers are looking for more convenient and secure ways to pay their bills,” said Jed Rice, CEO of Aliaswire. “Banks are well positioned to help their commercial clients deliver on that need. DirectBiller gives banks the ability to offer the latest digital bill payment capabilities, while also generating profitable new fee revenue and creating stickier relationships. It’s a huge opportunity.”

Aliaswire is carrying its strong momentum into 2022:

⦁ Last month, Aliaswire announced integration of DirectBiller with Mastercard Bill Pay Exchange. Billers using the DirectBiller platform can now offer an enhanced billing and payment experience to consumers who prefer to pay bills through their financial institution’s bill pay service or through a bill pay aggregator.

⦁ In February, Aliaswire also announced the addition of a new bank account validation (BAV) solution for banks and their commercial clients. The availability of the solution comes in advance of the pending enforcement of a new web debit rule which requires ACH originators to make account validation an explicit part of their fraud detection efforts.

⦁ In January, Aliaswire made its DirectBiller platform available to businesses in Canada in both English and French-Canadian language. DirectBiller is certified by Moneris Canada to support credit card payments in the country.

⦁ In December 2021, Aliaswire was the first business service provider to deploy Citi’s new Request for Pay and Citi Verify services, part of Citi’s Present and Pay real-time payment capability.

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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/.

Media Contact
for Aliaswire
Tim Walsh
timw@walshgroupmarketing.com
617.512.1641

DirectBiller now Integrated with Mastercard Bill Pay Exchange™

Integration with DirectBiller bill pay platform adds convenience
for consumers, banks and their clients

BURLINGTON, MA, FEBRUARY 17, 2022Aliaswire, a provider of digital payment and credit solutions for businesses and banks, today announced that it has integrated its DirectBiller payment platform with Mastercard Bill Pay Exchange. Businesses using the DirectBiller platform can now offer an enhanced billing and payment experience to consumers who prefer to pay bills through their financial institution’s bill pay service or through a bill pay aggregator.

Aliaswire’s DirectBiller bill pay platform equips banks to offer commercial clients custom-branded billing and payment experiences to their customers. DirectBiller manages the end-to-end process from invoicing through payment reconciliation and integrates with banks’ treasury management systems and bank clients’ ERP systems. The addition of Mastercard Bill Pay Exchange enables DirectBiller clients to offer their customers a wider range of billing and payment options, while streamlining accounts receivables and reducing operational costs.

Mastercard Bill Pay Exchange is a digital solution that makes it easier for consumers to view, manage and pay their bills in one central location with real-time biller setup, electronic bill presentment, choice of payment type, and payment confirmation from billers.

Aliaswire will partner with Citi Treasury and Trade Solutions to offer Mastercard Bill Pay Exchange through Citi Present and Pay, an omni-channel electronic bill presentment and payment platform. Citi Present and Pay allows Citi’s U.S. institutional clients to distribute bills digitally to customers across multiple communication channels, including email, SMS/text, voice/phone, and web and mobile web; and to collect corresponding bill payments via ACH, credit and debit cards, instant payments through The Clearing House RTP© network and alternative payment methods (APMs). Mastercard Bill Pay Exchange extends the capabilities available to Present and Pay clients.

“We continue to invest in Citi Present and Pay to enable our institutional clients to create a better bill-pay experience for their customers, and to help remove costly inefficiencies for billers. We are pleased to add Mastercard Bill Pay Exchange as a capability to our market-leading platform,” said Anupam Sinha, Global Head of Domestic Payments and Receivables, Citi Treasury and Trade Solutions.

“Our bank partners and their clients understand that customers have different payment preferences and they are committed to providing that flexibility,” said Jed Rice, CEO of Aliaswire. “By integrating DirectBiller with Mastercard Bill Pay Exchange, we are expanding those options and providing customers with the convenience, speed, and transparency they want when managing their finances.”

“Mastercard is focused on improving the ways people and businesses pay and get paid, providing greater choice and convenience, said Ron Shultz, Executive Vice President, Global Bill Pay Product Development at Mastercard. “We’re excited to collaborate with Aliaswire and Citi Treasury and Trade Solutions to enable real-time billing and payment options for their customers with Mastercard Bill Pay Exchange. Through our real-time data services and multi-rail capabilities, we’re bringing greater efficiencies and choice to billers and consumers alike.”
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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/.

Media Contacts:

for Aliaswire
Tim Walsh
timw@walshgroupmarketing.com
617.512.1641

Aliaswire Launches New Bank Account Validation Solution

NEWS RELEASE

Helps banks and their commercial clients comply with March 2022 requirement for ACH debits

BURLINGTON, MA, FEBRUARY 8, 2022Aliaswire, a provider of digital payment and credit solutions, today announced the addition of a new bank account validation (BAV) solution for banks and their commercial clients. The news comes in advance of the pending enforcement of a new web debit rule which requires ACH originators to make account validation an explicit part of their fraud detection efforts.

The regulation was first announced by Nacha in March 2021 with a one-year grace period for compliance. As of March 19, 2022, ACH originators must use account validation as a “commercially reasonable fraudulent transaction detection system” to screen web debits for fraud. This applies to the first use of an account number, or changes to the account number.

Aliaswire’s BAV solution is supported by Nacha’s Phixius Peer-to-Peer Network, which allows participants to instantaneously exchange and verify payment-related information. The network provides a single connection for verification and exchange of payment-related data with standardized APIs, streamlined services to foster interoperability and innovation, and secure payment information exchange and validation via blockchain/distributed leger technology tokens.

Aliaswire’s solution goes well beyond the basic validation of account status by also confirming payment history, particularly NSF or chargeback history. As new features are added to Phixius, Aliaswire’s solution will also confirm account ownership and matching ownership to the payment originator; and consistency of personally identifiable information (PII), including name, address, phone, number, and email.

The BAV solution is offered as a standalone service, and as a feature within Aliaswire’s DirectBiller billing and payments platform. DirectBiller equips banks to offer their commercial clients custom-branded billing and payment experiences to their customers. The software-as-a-service (SaaS) platform manages the end-to-end process from invoicing through payment reconciliation and integrates with banks’ treasury management systems and their clients’ ERP systems.

“We’re helping our bank partners and their commercial clients speed the flow of payments while also quickly and easily complying with Nacha’s new requirements,” said Jed Rice, CEO of Aliaswire. “Modern account validation should deliver multiple benefits such as increasing your transaction volumes and improving the user experience while also preventing fraud.”

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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/.

Media Contact
for Aliaswire
Tim Walsh
timw@walshgroupmarketing.com
617.512.1641