The new partnership reduces the cost and burden of account offboarding for banks and financial institutions with faster digital disbursements featuring choice.CHICAGO and PHILADELPHIA, June 4, 2024 /PRNewswire/ -- Onbe, a leading corporate payouts platform, today announces its partnership with financial technology company, Eisen. In this partnership, Onbe's platform will power the compliant digital solution that issues funds to consumers following account closures. Banks and financial institutions use Eisen's suite of tools to monitor and manage inactive and dormant accounts, streamline the account offboarding process and reduce compliance risk. With the addition of Onbe's payout solution to Eisen's new Disbursement Hub, Eisen's clients will be equipped to pay exiting account holders quickly and cost-effectively via instant digital disbursements.55% of U.S. adults have closed an account , requiring a financial institution to disburse the balance to its rightful owner. Eisen provides integrated solutions for managing the end of the account lifecycle, ensuring compliance with consumer protection laws and regulatory timelines for account closures, consumer refunds and escheatment

Onbe and ScrapRight have partnered to help scrapyards and recycling centers make instant digital payouts to sellers. With this partnership, Onbe’s digital payouts gateway has been integrated with ScrapRight’s recycling management software, the companies said in a Thursday (April 11) press release. “As the latest addition to our end-to-end platform, Onbe’s digital payouts gateway lets scrapyards eliminate the risk and expense of cash management, simplify their operations and provide a better payout experience — a win for our customers and their sellers,” Shon Duty, founder and CEO of ScrapRight, said in the release

CHICAGO PHILADELPHIA--(BUSINESS WIRE)--Onbe, a leading corporate payouts platform, is partnering with recycling management software company ScrapRight to make payouts more secure and accessible for over 600 scrap yards and their thousands of sellers. Integrating ScrapRight’s platform with Onbe’s digital payout gateway helps scrap yards replace cash or check payments with modern and instant options that provide a more convenient, faster experience for sellers in their choice of payout. While some scrap yards pay sellers with checks, Onbe and ScrapRight’s solution equips scrap yards to provide a more accessible experience for sellers that meet their payment preferences, as 92% of consumers prefer at least one digital or electronic payment method when receiving a payout, according to Onbe’s 2024 Payouts Landscape. Through instant issue, virtual and physical cards, sellers can receive funds instantly and have their choice of off-the-card options, such as adding funds to popular payment apps and mobile wallets for easy bill pay and spending. “Onbe is proud to partner with ScrapRight to bring the convenience and choice-driven solutions provided by instant payouts to the recycling sector, helping them better serve their diverse sellers,” said Melissa Hentschel, Chief Client Officer of Onbe. “Today, the overwhelming majority of consumers prefer digital payment options, and our solution equips scrap yards to meet this demand by leveraging the industry-leading recycling management platform they rely on daily.”