International payments provider Vitesse has picked Alessa by Tier1 Financial Solutions to help enable secure real-time global payment transactions.
Vitesse provides cross-border payment services to banks and businesses via a globally distributed settlement network. Through a single integration, merchants are able gain access to domestic routing, leveraging lower payment costs and deliver payments seamlessly.
The UK-based FinTech will be using Alessa to help support its real-time customer and transaction screening and monitoring services.
According to Vitesse, it chose Alessa due to its ‘flexibility and operational efficiency’ including its quick API response times, automation and ability to consolidate its customer and transaction workflows.
Alessa noted that following Tier1’s acquisition of Alessa earlier this year, the firm is now expanding its network to allow a wider-user base to identify suspicious activities and high-risk entities in compliance, purchasing finance, and procurement programs.
Alessa COO Andrew Simpson said, “As innovators, we pride ourselves on connecting with like-minded technology pioneers like Vitesse. “We want to help the leaders of the financial services industry create a safer, more secure digital environment for its participants. This collaboration is a great example of the ability to drive innovation while ensuring compliance is not compromised.”
Vitesse risk, legal and compliance director Andy Gregson added, “Vitesse is rapidly expanding its global footprint, building one of the largest domestic banking and payments networks in the world.
“Alessa will play an important role in helping us deliver efficient payments services to our clients, which include some of the largest insurers in the world, while ensuring we remain compliant with the evolving global regulatory landscape and industry best practice.”
Copyright © 2021 FinTech Global