New SWBC tech company SWIVEL launches with 800+ financial services clients and planned growth
SWBC is excited to announce SWBC Payments is now SWIVEL Transactions, LLC. SWIVEL will focus on its industry-leading transaction-enablement platform used by more than 800 financial institutions across all 50 states to make it easy for account holders to execute transactions.
The SWIVEL launch comes as demand for account-holder self-service and omnichannel communication has exploded. Financial institutions are looking for ways to differentiate themselves with exceptional account-holder experiences, while also addressing increased risks associated with streamlining transaction processing and accelerating the availability of funds.
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SWIVEL’s products and services make it easier for borrowers, account holders, and the financial institutions themselves to do business. SWIVEL technology provides versatile transaction enablement across account-holder touchpoints from facilitating new account funding to self-service loan payments to call-center-assisted transactions. Integration, reporting, risk mitigation, and fraud monitoring are all part of SWIVEL’s offerings.
According to Jason O’Brien, who will spearhead SWIVEL, the organization has grown transaction volume over the past five years through increased utilization across more channels and transaction types as well as adding capabilities for new clients.
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“The rapid evolution of transactions in the digital domain over the past decade will continue accelerating,” O’Brien said. “Institutions had to take leaps to improve digital channels as a service to their account holders. Now all end-users — account holders and the employees providing services — have high expectations. SWIVEL’s ultimate goal is to enable amazing transactions by building software that helps clients easily activate the necessary payment rails, integrations, user engagement features, and risk management capabilities for their specific needs. That’s the formula for enabling amazing transaction experiences.”
O’Brien also emphasizes that SWIVEL is differentiated by its laser focus and deep understanding of the human element behind every transaction. Decades of working with banks, credit unions, and collection departments means the SWIVEL team brings a wealth of knowledge and experience to its clients, taking the guesswork out of facilitating payments. And, that team will grow.
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