Third Party Integration with People First Bank

PeopleFirst Bank offers a comprehensive suite of banking services designed to meet the needs of businesses. They provide a wide range of services from expedited funds availability to secure check processing and point-of-sale solutions.

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SparkLMS integrates with the best breed of third-party solutions in the Lending Eco-system to run a lending portfolio easily and profitably. PeopleFirst Bank + SparkLMS integration will allow lenders to facilitate seamless disbursement of loan funds directly to borrowers. This streamlines the process and reduces the administrative burden on lenders.

What it does

With this integration, lenders will be able to:

• Provide direct loan disbursement to borrowers' bank accounts.
• Automate loan repayment processing for borrower convenience.
• Offer real-time monitoring and reporting on loan activity.
• Improve security and compliance with banking infrastructure.
• Provide customizable services to fit specific lender needs and scalable for growth.

Benefits

• Streamlines various loan-related tasks such as disbursement, repayment, and tracking.
• Reduces manual effort and increases operational efficiency.
• Automate the process of disbursing loans to borrowers' bank accounts and setting up automated repayments.
• Access to real-time data on loan activity, including disbursements, repayments, and outstanding balances.
• Ensures that financial transactions are conducted safely and in compliance with regulatory requirements.
• Borrowers benefit from a more convenient and user-friendly loan management experience within SparkLMS.
• Support for various loan products, repayment schedules, and reporting requirements.

Pre-requisites

After on-boarding your lending portfolio on SparkLMS, you must set-up an account with PeopleFirst Bank. We will guide you through the entire process of setting-up PeopleFirst Bank in your instance of SparkLMS.