Priority and Ahrvo Labs Announce Strategic Technology Partnership

Rhea-AI Summary

Priority Technology Holdings, Inc. partners with Ahrvo Labs Inc. to enhance payment capabilities through the Portable Identity Gateway, integrating Priority's payment and banking offerings. The partnership aims to streamline operations, expand service offerings, and drive growth for businesses and financial institutions in the U.S.

CPX integration accelerates Ahrvo Labs’ payment capabilities for data compliance customers

ALPHARETTA, Ga.--(BUSINESS WIRE)-- Priority Technology Holdings, Inc., (Priority), a leading platform for unified commerce that delivers integrated payments and banking at scale, has announced a strategic partnership with Ahrvo Labs Inc., through Ahrvo’s Portable Identity Gateway.

Ahrvo Labs has integrated Priority's payment and banking offerings into the gateway, a payments and banking network that provides access to 200-plus financial institutions through one onboarding process.

This integration enhances the Portable Identity Gateway's existing payment and banking capabilities in the U.S., enabling Ahrvo Labs to offer a wide range of services, including individual bank accounts, business bank accounts, physical and virtual debit cards, ACH transactions and international and domestic wires.

Ahrvo Labs' ability to onboard other organizations as program managers through a single process further amplifies the partnership's impact. This streamlined approach allows fintechs, neobanks, acquirers, ISOs, Payfacs, PSPs and other payment and banking service providers in the U.S. to easily access Priority and more than 200 other payment and banking providers behind the Portable Identity Gateway.

The partnership’s goals are to create a seamless experience that delivers Priority's best-in-class payables solution, CPX, to Ahrvo Labs' customers, and to enhance the customer experience by streamlining and integrating all payment types into one platform. Priority will seamlessly process payment instructions from Ahrvo Labs' clients, which will automate virtual card, ACH and check transactions alongside essential reconciliation data, regardless of a supplier’s preferred payment method. Through this partnership, both Priority and Ahrvo Labs continue their commitment to enabling greater access to essential financial services for businesses and consumers across the U.S.

"We are excited to partner with Priority to enhance access to payment and banking services for businesses and financial institutions," said Appo Agbamu, CEO of Ahrvo Labs. "By integrating Priority's ACH capabilities and BaaS offerings into the Portable Identity Gateway, we are empowering our partners to streamline operations, expand their service offerings and drive growth. Our partnership with Priority enables us to get clients onboarded with commercials executed quickly, typically in less than two weeks. That’s extremely fast when onboarding program managers who want to commercialize BaaS capabilities to offer Tier 1 bank accounts."

“We are thrilled to partner with Ahrvo Labs,” said Stephen Tackett, Executive Vice President for Priority’s commercial payments business. “Ahrvo Labs has built a tremendous business delivering excellent customer experiences in the compliance space. The combination of our payment technology along with Ahrvo’s expertise in compliance will give our clients an unmatched level of security and reliability."

About Priority Technology Holdings, Inc.

Priority is a solution provider in Payments and Banking as a Service, operating at scale with 820k active customers across its SMB, B2B and Enterprise channels, processing $118B in annual transaction volume and providing administration for $850M in average daily deposits. Priority’s purpose-built technology enables clients to collect, store, borrow and send and provides customers the acceptance and AP payment applications and Passport financial tools that best optimize their cash flow and maximize working capital. Additional information can be found at www.prioritycommerce.com.

About Ahrvo Labs

Ahrvo Labs offers businesses 20+ cutting-edge identity, document, and transaction management solutions that optimize onboarding processes for payment and banking organizations to ensure regulatory compliance. Ahrvo’s state-of-the-art payment and banking gateway features a single onboarding process that provides access to over 200 leading financial institutions worldwide. With secure global transactions and a commitment to regulatory compliance, our compliance, payment, and banking solutions are designed to simplify compliance workflows and streamline payment and banking operations for businesses. To learn more visit https://ahrvo.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240423042432/en/

Ahrvo Labs Media Contact:

John Richardson

VP of Sales

john.richardson@ahrvo.com

Priority Media Contact:

Alison Jones

Alison.Jones@prth.com

Source: Priority Technology Holdings, Inc.

FAQ

What is the strategic partnership between Priority Technology Holdings, Inc. and Ahrvo Labs Inc. about?

The partnership aims to enhance payment capabilities through the Portable Identity Gateway by integrating Priority's payment and banking offerings.

What services will Ahrvo Labs be able to offer through the integration with Priority?

Ahrvo Labs will be able to offer a wide range of services, including individual bank accounts, business bank accounts, physical and virtual debit cards, ACH transactions, and international and domestic wires.

What is the goal of the partnership between Priority and Ahrvo Labs?

The goal is to create a seamless experience for customers by delivering Priority's best-in-class payables solution, CPX, and enhancing the customer experience by streamlining and integrating all payment types into one platform.

How does the partnership benefit fintechs, neobanks, acquirers, ISOs, Payfacs, PSPs, and other payment and banking service providers?

The partnership allows these organizations to easily access Priority and more than 200 other payment and banking providers behind the Portable Identity Gateway through a single onboarding process.

What is Appo Agbamu's role in Ahrvo Labs and what does he have to say about the partnership?

Appo Agbamu is the CEO of Ahrvo Labs and he mentioned that the integration with Priority enhances access to payment and banking services for businesses and financial institutions.