Life is better
with real-time payments!
Consumer Capabilities
Business Capabilities
(coming soon!)
Benefits
Solutions
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Real-Life Stories, Real-Time Payments
Consumer Capabilities
Receive
Receive funds into your account instantly, then put them to use instantly.
Send and Receive
Send and receive guaranteed funds instantly any day at any time.
Request Payment
Send or receive a request for payment
Benefits
Something for them, something for you, too!
Benefits for Your Members
- When facing an accident, illness, injury, natural disaster or crisis, your members can gain immediate access to life-altering funds during their time of need.
- A hard-earned paycheck for the same day’s work can enable your members to pay bills on time, avoid late fees and improve overall cashflow management.
- Real-time settlement and clearing allow your members greater visibility and control over their finances, improving their financial health.
- When presented with a fast-moving investment opportunity or special offering, your members can take advantage without the lag time of account transfers.
- Real-time payments give your members the speed, convenience and instant gratification that makes life easier.
Benefits for Your Credit Union
- Members who love your credit union will love your credit union even more! Real-time payments, also known as instant payments, will deepen longstanding member relationships and fortify their loyalty.
- Word-of-mouth marketing is stronger than anything else. As your members sing the praises of your credit union, more members will be eager to join.
- Supporting members’ financial health is a differentiating factor of the credit union movement; real-time payments give your members more control and greater visibility into their financial standing.
- Be top of mind for more than just milestone transactions like mortgages and auto loans; real-time payments put your credit union at the crux of everyday life.
- Legacy payments are operationally burdensome; real-time payments will free up your valuable resources for a higher purpose.
- The operational efficiencies that come with modern payments could lead to reduced operating expenses and the potential for income too!
Solutions
Alloya makes it happen!
Real-Time Payment Processing
Alloya’s Real-Time Payment Processing solution enables the processing of real-time payments over the FedNow® and RTP® networks. Two variations are available for each network: “Receive-Only” and “Send & Receive”.
Alloya’s solution manages the connectivity to the networks and processes the payment in seconds, which includes first verifying and debiting the funds from the sender’s account and then depositing the funds in the receiver’s account in the credit union core systems.
Why Choose Alloya's Solution?
- Leverages your trusted relationship with Alloya for payment processing
- Streamlines access to payment processing activity for your staff via Premier View
- Ensures exceptional service, operational support, assistance with exceptions, rules, etc.
- Offers peace of mind through highly reliable, redundant and secure solutions
- Makes payment initiation easy with multiple initiation methods, apps and systems supported
Real-Time Payment Settlement
Alloya’s Real-Time Settlement solution enables the settlement of each transaction in Alloya’s Master Account for the FedNow® Service or the Joint Account for the RTP® network.
For credit unions that wish to enable both the sending and receiving of transactions for their members, Alloya’s Real-Time Settlement Plus solutions includes liquidity management.
Why Choose Alloya's Solution?
- Keeps your view simple, with net activity posted to your Alloya transaction account once per active network and cycle date rather than bogging down your account with individual transaction postings
- Enables viewing of up-to-the-second settlement activity for each transaction via a quick link from Premier View
- Relieves your credit union from having to be concerned with liquidity management 24x365
- Leverages your Line of Credit with Alloya to ensure uninterrupted processing of real-time payments
- Only requires pre-funding of an Alloya account based on activity (TBD)
Neural Payments P2P
Alloya’s peer-to-peer (P2P) payment solution, powered by our partnership with Neural Payments, delivers a fresh and streamlined experience that gives your credit union the ability to grow deposits, engage with new members and offer a safer, more user-friendly payment experience directly within your digital banking app.
Why Choose Alloya's Solution?
- Operates within your credit union’s existing digital banking app
- Uses an open-loop system to enable your members to move money on traditional debit rails, modern fintech and real-time payment rails – including third-party digital wallets and accounts tied to debit cards
- Mitigates heavy data-sharing requirements and settlement processes for your staff to learn
- Offers an organic way of communicating with payment recipients (i.e., SMS text or email)
- Uses a proprietary rules-based fraud engine to significantly reduce fraudulent activity
Mix and match to meet your needs!
Alloya’s solutions can be leveraged as a bundle or a standalone. For example:
All Three, Please!
- In this scenario, your credit union uses Alloya’s Real-Time Settlement solution and Real-Time Payment Processing (Receive-Only) solution for a consolidated, streamlined view into activity, as well as Alloya’s Neural Payments P2P solution for your members to initiate payments from within your already-familiar digital banking app.
You Pick Two!
- Real-Time Settlement + Real-Time Payment Processing: In this scenario, your credit union already has capabilities for your members to initiate P2P payments. You want to expand options to include sending over the real-time networks. You can choose to settle and process these payments with Alloya. Your P2P solution would integrate with Alloya’s payment processing solution via an API. Settlement is configured at the network level with Alloya guiding you through the set-up process.
- Real-Time Settlement + Neural Payments P2P: In this scenario, your credit union chooses to settle with Alloya. In addition, your credit union has integrated Alloya’s Neural Payments P2P solution into your digital banking platform.
Just One For Now!
- Real-Time Settlement Only: In this scenario, your credit union chooses only to settle with Alloya. You may have the other bases covered, but you want to offload 24x265 liquidity management concerns and simplify operations for your staff.
- Neural Payments P2P Only: In this scenario, your credit union chooses to integrate Alloya’s Neural Payments P2P solution into your digital banking platform without leveraging Alloya’s solutions for real-time payments.
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