Alacriti Inc. of South Plainfield, N.J., has developed a suite of biller-direct applications that banks and other large billers could run in-house.
The vendor will announce today that it has developed OrbiPay, the commercial version of a system it has developed over the past five years for one of the world's largest banking companies.
Manish Gurukula, Alacriti's chief executive, would not identify the customer in an interview last week. He said his company got the job to develop the biller-direct system as a result of earlier efforts to develop a person-to-person payment system, which the banking company decommissioned after running for a couple of years.
"They wanted to replace all their bill payment platforms with this enterprise payment platform," he said.
The banking company was using a variety of payment processing systems, often vendor-hosted, for several retail lending businesses, Mr. Gurukula said. Since the first card payment application went live in August 2005, the in-house system has saved the company $142 million of operating costs, Alacriti said.
