Enhanced integration configured to enable lenders to instantly push funds to consumers’ debit cards via REPAY Instant Funding
Repay Holdings Corporation, a leading provider of vertically-integrated payment solutions, announced its expanded partnership with Inovatec Systems Corp., a provider of industry-leading, cloud-based lending solutions for all financial institutions.
“As the lending process continues to shift rapidly to digital-first, speed to funding is becoming crucial to the consumer experience, so we’re excited to allow Inovatec lenders to seamlessly access our Instant Funding technology.”
The extended integration between REPAY and Inovatec will streamline the funding process for lenders on the Inovatec system, which will be configured to enable them to instantly fund loans from the same interface they use today. Without having to switch systems or platforms, lenders can electronically send funds directly to borrowers’ eligible debit and prepaid cards, eliminating costly and inconvenient delays and providing consumers with instant access to funds. Inovatec lenders and finance companies will continue to leverage REPAY solutions to securely accept debit cards, credit cards, ACH and EFT payments through a digital suite of consumer-facing payment channels, including text pay, Interactive Voice Response (IVR) phone pay, the REPAY mobile app, and online payment portals.
A leader in business process automation, Inovatec’s configurable loan servicing and customer engagement platform provides full servicing capabilities and portfolio analytics while allowing businesses to create customized processes and workflows throughout the lifecycle of a loan or lease.
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“Our partnership over the past year with Inovatec has shown the power and value of our integrated solutions, and we look forward to growing and expanding our relationship to help lenders in the US and Canada,” said Susan Perlmutter, Chief Revenue Officer of REPAY. “As the lending process continues to shift rapidly to digital-first, speed to funding is becoming crucial to the consumer experience, so we’re excited to allow Inovatec lenders to seamlessly access our Instant Funding technology.”
Beginning in 2022, REPAY will enable Inovatec lenders to offer remote cash acceptance, which will further increase the convenient options for lenders’ customers to make payments.
“We’re thrilled to expand our partnership with REPAY to make the lending process that much faster for both lenders and consumers,” said Sam Heath, Chief Revenue Officer of Inovatec. “As we continue to look for ways to improve lending both in the US and Canada, REPAY will play an important role in delivering the industry-leading products our customers have come to rely on from Inovatec, creating better experiences and more profitable outcomes.”
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