Western Alliance buys digital disbursements

Western Alliance Bank completed its purchase of Digital Settlement Technologies, DBA Digital Disbursements, the digital payments platform for the class action legal industry, a Press release said.

Digital Disbursements, rolled out in 2019, makes it easy to seamlessly integrate a customizable payment menu with various claim forms or payment selection websites.

The purchase will allow Western Alliance to advance as a digital payment platform for the industry.

Digital Payouts was created to help add new digital payout options in class action lawsuits and other similar payouts. The platform allows applicants to choose how to receive their payments. There are several options, including direct bank account or digital wallets.

“The acquisition of Digital Disbursements is Western Alliance’s latest investment that reinforces our commitment to providing differentiated technology solutions that meet the changing needs of our customers,” said Kenneth A. Vecchione, President and Chief Executive Officer of Western Alliance. Bank. “We look forward to partnering with the Digital Disbursements team, with whom we have established a close working relationship. This acquisition will allow us to explore new capabilities and continue to deepen our growing suite of legal banking services while serving adjacent sectors that will benefit from digital payments technology.

Bora Payment Systems, which works in B2B payments, launched a new way for Western Alliance Bank’s Visa commercial card customers to make payments to vendors last year, PYMNTS wrote.

See also: Bora makes card payments in AP easier for Western Alliance customers

Bora owns and operates the Payer Direct Hub, which uses credit card networks to push payments to vendors.

The report indicates that the system is capable of processing single payments or taking a batch file from the AP software. Michelle Lance, senior vice president, head of product management at Western Alliance Bank, said the bank’s customers will now see the benefits of vendor payment flexibility.

She said the system filled a need without having to be connected to her own company’s ERP system.

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