Alviere and Onafriq forge strategic alliance to boost financial inclusion in Africa

Alviere and Onafriq forge strategic alliance to boost financial inclusion in Africa

Alviere, a trailblazer in the embedded finance platform sector, has recently announced a strategic partnership with Onafriq, which is hailed as Africa’s most extensive digital payments network.

The collaboration between Alviere and Onafriq is driven by the shared mission to revolutionise cross-border payments, a lifeline for countless African families and merchants. With remittance flows to sub-Saharan Africa hitting a remarkable $53bn in 2022, this partnership aims to enhance the financial well-being of individuals in the region by facilitating easier access to financial services and economic opportunities.

Alviere stands out as a pioneering force in the embedded finance domain, offering a comprehensive array of financial products and services through its Alviere HIVE platform. This platform is designed to empower organizations to seamlessly integrate financial services into their existing and new offerings. Prioritising regulatory compliance, security, and fraud prevention, Alviere’s platform offers a multitude of configurable, branded financial products, including accounts, cards, wallets, payments, and global money transfers.

On the other hand, Onafriq, with its expansive network across Africa, is committed to enabling financial access and fostering economic prosperity throughout the continent. The company plays a pivotal role in connecting various payment schemes, thereby facilitating a more inclusive and accessible financial landscape.

The strategic collaboration leverages Alviere’s extensive solutions, technical expertise, and a robust approach to regulation and compliance. As a licensed money transmitter in the U.S. and its territories, Alviere is uniquely positioned to enable cross-border payments. Onafriq will utilise the Alviere HIVE platform and its regulatory framework to process payments while adhering to stringent Anti-Money Laundering (AML), sanctions, and fraud standards, ensuring a safe and secure experience for customers.

Onafriq CEO, Dare Okoudjou, expressed pride in the initiative, stating, “We are proud to be a key part of the global effort to make sending a cross border payment as easy and as simple as making a phone call. With Alviere’s technology and regulatory coverage, and our extensive footprint across the continent, we will enable fast and secure remittances while facilitating financial access and economic prosperity for Africans.”

Alviere co-founder and CEO, Pedro Silva, highlighted the synergy of the partnership, remarking, “Onafriq is uniquely positioned to be a global leader in fintech, revolutionizing cross-border payments throughout the African diaspora. We’re proud to be partnering with Dare and his team, our joint focus is to enhance financial access for all people regardless of borders, history, or current means. Together, Onafriq and Alviere will enable a variety of efficient, competitive payment options for millions of consumers.”

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