STAMFORD, Conn., Jan. 27, 2020 /PRNewswire/ -- Rellevate™, LLC, a digital banking fintech company aimed at facilitating consumers' access and use of their money, has selected Technisys as its digital banking platform provider. Offered primarily via employers, Rellevate's financial services include digital banking as its core umbrella product with access to payroll, bill pay, and money-sending capabilities linked to employee accounts.
Rellevate recently announced an agreement with Visa. Visa DPS will be the system of record and back-end processing engine for the Rellevate Debit product. Technisys will complement the Visa DPS processing platform by adding the power and flexibility of its Cyberbank Digital Platform, a cloud-ready and open API-based platform, designed to interact directly with the Fintech ecosystem, and allow innovative digital experiences for Rellevate banking customers. Cyberbank will enable Rellevate's customers to receive and send money, make payments and get paid whenever they need cash digitally, without friction on the device of their choice. The platform launches in Q1, 2020.
"Technisys is the perfect complement to Visa DPS for this initiative," says Rellevate's Chairman and CEO Stewart A. Stockdale. "Their digital banking functionality will ideally position Rellevate in the United States and seamlessly allow customers to access, move and use their money - anytime, anywhere." Stockdale was formerly CEO at J.G. Wentworth, President at Western Union, and SVP Global Marketing & Product Management at Mastercard, among other roles.
"Visa DPS is very excited about the partnership with Rellevate and the opportunity to support their innovative banking experience; the flexibility, stability and scalability of the Visa DPS platform will enable Rellevate to reach a broader consumer base for success in this space," said Todd Brockman, Senior Vice President, Global Head of Visa DPS, Visa Inc.
"Financial services need structural flexibility to create journeys that really address customers' needs and expectations. Our platform Cyberbank Digital has been helping global banks and fintechs to differentiate from competitors and to build innovative digital ecosystems," says German Pugliese Bassi, co-founder, CMO and Alliances at Technisys.
Some of the main benefits that Cyberbank Digital will add to Rellevate are: i) A platform for innovation and growth, that will allow Rellevate to expand its value proposition and pivot to follow their customer's needs and wants, ii) A cloud-native solution that scales linearly, with which they can follow their demand and sustain amazing performance and service levels, and iii) An open architecture that will enable Rellevate to integrate multiple players (technical providers) and create a truly digital ecosystem.
"Rellevate is partnering with Technisys to offer next-gen services that facilitate the family of Rellevate products and offer a seamless customer experience," said Greg Schneider, Rellevate's CIO. By using the platform, employees in the United States can track daily wages earned, the number of hours worked in a month and access their earned wages. The service also includes digital banking, debit card services, bill pay, and money-sending capabilities.
Rellevate, LLC is a digital banking services company dedicated to empowering consumers through innovative banking and payment services that allow consumers to access and use their money anytime, anywhere. The company's suite of financial services, offered primarily via employers, include digital banking, Visa debit cards, access to payroll, bill pay, and send money (www.rellevate.com).
Technisys is the digital banking technology company. Our next-gen digital banking platform transforms traditional banks to digital, while jumpstarting challenger, neo banks and fintech companies. The company helps financial institutions differentiate through enhanced customer experiences, create platforms for innovation, increase sales, and engage with fintech ecosystems through Open APIs (www.technisys.com).
About Visa DPS
Visa DPS is the world's largest processor of Visa transactions and the choice of leading financial institutions and innovators around the globe. Handling nearly 40 billion transactions a year, and with more than 190 million accounts on file, Visa's issuer processing solution is unsurpassed in scale and delivers proven reliability. Scalability combined with flexibility and powerful API's make DPS a premier provider for traditional banks, credit unions, and fintech clients, with a key focus on distribution and creating a strong brand.
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