Expanded Automation Capabilities Enable Lenders to More Efficiently Manage Consumer and Auto Loans
Repay Holdings Corporation , a leading provider of vertically-integrated payment solutions, announced a new integration with Fuse, a next-generation loan origination system (LOS). With REPAY’s digital payment technology, banks, credit unions and other financial institutions using Fuse’s AI-powered LOS platform can take advantage of expanded payment automation capabilities that reduce errors and increase efficiency across the loan management lifecycle.
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REPAY’s integration with Fuse provides a clear record of loan payment activity, increasing the scope of automation enabled by Fuse’s advanced loan origination AI software, reducing the risk of manual errors and miscalculations while optimizing internal efficiency. Transaction logs are automatically updated following a card, ACH or digital wallet payment. This enables lenders to view a record of highly detailed, accurate and usable data that can be analyzed to generate valuable insights, automate compliance checks and identify potential issues before they become a risk.
Lenders using Fuse’s AI-powered loan origination and management platform can attract more borrowers by offering the modernized, seamless payment experience provided by REPAY’s technology. The flexibility of modern payment acceptance also enables borrowers to easily submit payments on time, reducing the risks of delinquencies and late fees. Consumers have become accustomed to the convenience of digital transactions they now use every day, and being able to take advantage of those payment methods makes them more likely to select a lender that accepts those payment options.
“Providing secure and adaptable payment options for borrowers on multiple platforms is a fundamental necessity for lending solutions,” said Jake Moore, EVP, Consumer Payments, REPAY. “Through our partnership with Fuse, Fuse’s AI-driven software embraces automation capabilities to give financial institutions the ability to deliver seamless consumer experiences and enhance operational performance.”
Real-time payment processing and posting ensure that updates and information are efficiently tracked in lenders’ systems immediately, regardless of whether the payment was made via online, text, mobile or Interactive Voice Response (IVR) channels. Additionally, the level of automation provided by REPAY and Fuse’s integrated solution supports compliance with industry security standards while reducing the risk of information leaks through negligence or malintent.
“Fuse is redefining how lenders think about automation and AI,” said Andres Klaric, Cofounder & Co-CEO at Fuse. “For lenders competing in environment, Fuse represents the clear path forward. By integrating REPAY’s proven payment technology with Fuse’s AI-powered origination system, we’re giving financial institutions the innovation advantage they need to win borrowers and build their operations for the future.”
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