Repay Holdings Corp. (REPAY) and Inovatec Systems Corp. now are working together to help finance companies with collections and other segments of their businesses connected with gathering payments from contract holders.
The provider of vertically integrated payment solutions recently announced a partnership with the provider of cloud-based lending solutions for all financial institutions.
As the proprietary payment platform of choice for Inovatec, REPAY highlighted that it now can enable lenders and finance companies on the Inovatec system to securely accept debit cards, credit cards, and ACH payments through its digital suite of consumer-facing payment channels, including text-to-pay, Interactive Voice Response (IVR) phone pay, the REPAY mobile app and online payment portals.
With its strength in business process automation, Inovatec’s configurable loan servicing and customer engagement platform can provide full servicing capabilities and portfolio analytics while allowing businesses to create customized processes and workflows throughout the lifecycle of a loan or lease.
“Inovatec’s extensive experience across automotive, equipment, and consumer sectors, along with its strong presence in the United States and Canada, makes this a valuable and exciting partnership to embark on,” REPAY chief revenue officer Susan Perlmutter said in a news release.
“These critical times have proven how important it is for lenders to offer convenient, easily accessible digital payment solutions to their customers to help reduce friction in the loan origination and repayment processes,” Perlmutter continued.
Inovatec’s cloud-based lending solutions for the automotive industry can streamline the process of submitting applications to finance companies. Combined with REPAY’s transaction processing platform, Inovatec insisted it now can ensure an optimal customer experience with a turnkey, fully digital solution that can be rapidly deployed end-to-end.
“We look forward to our partnership with REPAY and are thrilled to now have the ability to provide fast and secure payment processing solutions to our clients,” said Bryan Smith, head of customer growth and strategic partnerships at Inovatec.
“We selected REPAY as our platform of choice because of the company’s seamless integration capabilities, direct lending processing solution and distinct experience in the automotive industry,” Smith went on to say.