Creates major efficiencies in loan servicing, payment collection, and reconciliation processes
April 08, 2020, ATLANTA–(BUSINESS WIRE)–Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY”) a leading provider of vertically-integrated payment solutions, has announced its partnership with TurnKey Lender, a cloud-based lending software for evaluating borrowers, decision-making support, and online-lending process automation. REPAY and TurnKey Lender both serve the lending marketplace in the United States and Canada. “We believe our partnership with TurnKey Lender will create major efficiencies in loan servicing, payment collection, and reconciliation processes.”
The integration between REPAY and TurnKey Lender will enable credit unions, finance companies, and lenders to fund loans 24/7 and subsequently accept loan payments via card and ACH directly through the TurnKey Lender platform as well as consumer-facing payment channels, including Interactive Voice Response (IVR)/phone pay, text pay, mobile apps, and white-labeled online portals.
“We believe our partnership with TurnKey Lender will create major efficiencies in loan servicing, payment collection, and reconciliation processes,” said Susan Perlmutter, Chief Revenue Officer of REPAY. “The integration between the two systems will create a seamless and convenient payment experience for our clients and their borrowers. We’ve assessed that Canadian lenders are largely underserved when it comes to payment options, so we’re excited about the opportunity this presents in filling a void and further empowering the Canadian lending marketplace with this powerful combination.”
“The partnership will streamline the onboarding process for new companies on both TurnKey Lender and REPAY systems by accelerating legal verification and technical connection procedures for new customers who want to use online payment processing,” said Elena Ionenko, Chief Business Development Officer of TurnKey Lender. “Customers can elevate their business operations with lending and payments services at the same time to see substantial growth with their financial transactions, an important win in today’s digital first environment.”