Finvi Adds Payment Processing to Katabat Debt Collection Platform

Addition of Finvi Payments completes Katabat offering to make it an all-in-one workflow and payments solution.

Finvi, a leading provider of enterprise workflow automation software built to accelerate revenue recovery and simplify the payments process, recently launched a new integration between its payments platform and Katabat workflow software. With the addition of the embedded Finvi Payments solution, Katabat is now an all-in-one workflow and payments platform designed to increase collections rates and streamline operations through a combination of powerful digital engagement and payment processing tools.

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This new integration offers Katabat users built-in compliance rules and modern, digital communication capabilities, such as text messages and emails, combined with convenient, familiar payment options (e.g., debit, credit, and ACH) to help meet the demands of today’s mobile, fast-paced world.

As the popularity of digital payments has increased over the years—with transaction volume expected to reach $1,765B in 2022 and an estimated $3,528B by 2027, according to Statist—not having a self-service online payment option can cause friction and impede collection efforts.

The new payments option not only allows agents to take payments over the phone via credit, debit or ACH directly within the Katabat portal, but also provides these same options for clients through a self-service portal, giving them the 24/7 access, they have come to expect.

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“Today’s consumer demands convenience and flexibility—as a true partner to our clients, we want to help them offer that convenience in the easiest possible way,” said Tim O’Brien, Finvi’s CEO. “This new all-in-one solution does that by giving our clients everything they need in one implementation—omnichannel communications and modern payment options. The days of promissory notes and paper checks are gone.”

With text messaging quickly gaining popularity as one of today’s primary forms of communication, the addition of secure payment options to Katabat’s already robust digital and omnichannel communication platform was the next logical step in the product’s innovation.

“Having the ability to reach consumers via their channel of choice, including text or email, is key for our clients,” explained O’Brien. “Our number one priority is to provide the advanced technology our clients need to drive revenue recovery success. With that in mind, we couldn’t be more excited to offer this functionality to our Katabat clients.”