Adding remittance to an existing or new app gives your customers more reasons to engage — more frequently. Providing this service at physical locations via service counters or kiosks can also drive in-store visits and increase basket size. Here's how we make it possible.
Q: How can we add remittance?
A: With Alviere providing the infrastructure, owning the licensing and applying legal, regulatory and program expertise, remittance capabilities can be added to an existing app or in-store experience.
Q: What are the key end-user customer considerations?
A: As we partner, it's important to understand the goals of the program and how our clients expect their customers to use remittances. Are typical customers using the app, visiting physical locations or a mix of both? What are the expected remittance payment methods? Are there other tech stacks or workflows to consider? These are where Alviere expertise and guidance meet client expectations.
Q: How does the technical integration work?
A: The Alviere HIVE technology platform is API-first, allowing for maximum flexibility to new and existing connections. Alviere’s endpoints and webhooks to ensure the technical integration aligns with both expectations for front-end user experience and back-end API flows.
Q: Do we need to find additional partners and technology?
A: No. The Alviere HIVE is a holistic platform, encompassing all required functional capabilities, including KYC, KYB, AML, identity verification, FX, and payout services. Alviere manages all banking, partnership and compliance elements for our clients' programs.
Q: What about compliance?
A: In-house Alviere legal & compliance experts consult throughout the remittance program, including questions about the transfer of funds between all stakeholders and how this impacts the available levers and funding models in the program design.
Q: Who owns KYC and anti-fraud?
A: There are options to configure bespoke, compliant solutions with multiple tiers of Know Your Customer (KYC). Programs that allow customers to hold a balance in a wallet or account will require full KYC when the customer onboards, whereas programs that only enable pass-through transactions with no balance held may only require limited KYC. At the time of every remittance transaction, Alviere will screen the beneficiary for sanctions. As a licensed money transmitter in the United States, Alviere adheres to best practices outlined by the Money Services Business Association (MSBA) throughout its Anti-Money Laundering (AML) program and follows state and federal financial regulations.
Q: How do we minimize risk?
A: Alviere's Third-party Risk Management team conducts a complete risk-based assessment at the program’s inception and throughout the remittance program. This assessment examines all facets of the program to ensure minimal risk, including financial soundness and solvency of the client, reputation, and applicable regulatory requirements.
Q: What does implementation look like?
A: Each program is different, so Alviere exerts the highest level of attention to ensure success. A dedicated project team includes an implementation manager, solution architect, go-to-market (GTM) manager, and customer care lead. In addition, Alviere Legal, Compliance, and Treasury Management teams are available for consultation throughout the program lifecycle.
Q: Can Alviere access any corridor in the world?
A: No. We abide by the sanctions and rules regulating international money transfers. We do not use any corridors that are prohibited or present excessive risk to our clients or to Alviere.
Q: How does Alviere manage fraud risk?
A: Alviere’s internal compliance and fraud teams, combined with AI and machine learning algorithms, continuously monitor transactions to mitigate fraud risk. This monitoring is applied throughout the program from inception to large scale transactions.
Q: Does Alviere own end-customer acquisition?
A: No. While we work closely to ensure the program is secure, compliant and sustainable, our clients manage end-user Marketing and promotion. However, all Marketing materials and end-user promotions require prior approval from Alviere to ensure compliance with federal and state regulations on advertising.
