What is the liability to the institution if there is a breach of information? Does Flywire store the payor's banking information?
Bank account details are not stored in Flywire’s system. We provide our banking destination so payor’s can send the funds from their bank account to Flywire’s bank account. From there, Flywire collects the funds, performs the exchange into US Dollars, and deposits those US Dollars directly into the institutions’s bank account.