Alviere to work with Currencycloud

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Valentina Vitali
Valentina Vitali
FXC Intelligence Research Analyst
Valentina is a Research Analyst at FXC Intelligence, the data sister company of FXcompared. Valentina is passionate about payments and fintech. Valentin enjoys analysing money transfer companies and… Read more
  • Alviere, which is a provider of embedded finance platforms, will work alongside a leading business-to-business (B2B) provider of payment solutions to offer a solution to customers both current and new.
  • The Currencycloud ‘Spark’ solution will now be offered as part of the application programming interface (API) offered by Alviere.
  • A senior figure at Currencycloud said that “there was an immediate synergy between us and Alviere” – and that both companies were committed to the principles of embedded finance for the long term.

A leading embedded finance platform company has struck up a new partnership with a business-to-business (B2B) payments solution company.

Alviere, which is based in New York, will work alongside the business to B2B payment solutions provider Currencycloud to offer enterprise customers a better payments service.

Customers will now be able to use the Currencycloud Spark solution.

This is an e-wallet offering that has multiple currencies in it.

Each wallet account has an individual IBAN number, which gives customers the chance to make payments and transfer cash between a total of 38 currencies.

Alviere will use its modular application programming interface (API) technology to provide corporate clients with financial services options.

As well as making provision for existing customers who want to take up the offer, the move will also be available to those who are not yet on the company’s books.

‘Embedded finance’ refers to the practice of including financial services in different product and customer environments for a better user experience.

In a statement, a senior figure at Alviere described the move as positive given that consumer demand was asking for this new layer of options for international money transfers.

Steven Scofelia, who serves as Alviere’s chief of staff, added that the company would look to attract new customers as a result of the move – as well as keeping current ones on board, and offering them the new service.

“There is a real demand from our customers for cross-border functionality and it’s a strategic component of our growth,” he explained.

“We are excited to launch our partnership with Currencycloud to offer a combined solution to existing and new Alviere clients.”

For Currencycloud, its vice president of sales and general manager of North America said in a statement that the companies shared a view on the importance of “embedded finance”.

David Heitzman pointed out that the relationship between the firms was positive from the start.

“There was an immediate synergy between us and Alviere – their customer-focused approach to delivery mirrors ours and it felt like a perfect match from the start,” he explained.

“That we both see embedded finance as the next big step for business is fantastic and we are thrilled to support Alviere in delivering that for its clients.”

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