Alviere, the leading embedded finance platform enabling any brand to offer their customers financial solutions, announced today that it has completed a multi-year effort to be a fully-licensed, regulated money transmitter in every state in the United States and in Puerto Rico.
As brands seek to expand their offering to customers to include financial services enabled by a new generation of embedded finance providers, much of the success hinges on their ability to partner with a provider that can deliver the most robust program with the greatest flexibility coupled with a complete compliance and risk management framework. Alviere’s new status as a fully-licensed regulated financial institution assures a direct relationship with state and federal regulators and full fiduciary responsibility, mitigating the risks associated with fintechs that are agents of third-party banks, a practice that has recently drawn scrutiny from the U.S. Office of the Comptroller of the Currency (OCC). Alviere’s new status opens up opportunities for new revenue streams and enhanced services, such as in-store cash transactions, which cannot be offered by non-licensed embedded finance providers.
“Alviere’s successful completion of a five-year long U.S. licensing process sets a new standard of operational excellence and reliability for the embedded finance sector, specifically, and the fintech industry as whole,” said Yuval Brisker, co-founder and CEO, Alviere. “Alviere has invested many thousands of hours, substantial capital, and brought to the fore unmatched expertise to secure this coveted regulatory umbrella. Now, Alviere alone is able to offer, and ensure, the kind of safety, flexibility, and long-term viability that brands must have when offering state-of-the-art financial services to their customers.”
In contrast to fintechs that merely offer APIs or piecemeal coverage, Alviere’s platform boasts the industry’s widest array of options with eighteen fully-featured and pre-integrated financial products, along with program management capabilities to cover all compliance and operational aspects. A fully-regulated and licensed entity in the United States, Alviere provides peace of mind to brands, offering full KYC, AML, fraud, identity management, and treasury management. Alviere is also SOC 1, SOC 2 and PCI Level 1 compliant.
“By securing licenses across all mainland U.S. states and Puerto Rico, Alviere is changing the embedded finance landscape, providing a level of upside, security, and assurance that is unmatched in the industry,” said Luis Trujillo, Alviere’s Chief Compliance and Risk Officer. ” We are thrilled to eliminate any regulatory risks for brands that want to offer financial products to their customers and derive the greatest possible value from them.”
Read Why Does Regulation Matter? by Yuval Brisker.