Third Party Integration with Repay

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SparkLMS automated loan processing Third Party Integration with Repay

REPAY - Realtime Electronics Payments is a platform that integrates with websites to offer flexible payment options to their customers. It blends with your existing software to digitise and automate payments for vendors.

SparkLMS integrates with the best third-party solutions in the lending landscape to provide a lending portfolio that is easy and profitable. REPAY + SparkLMS will allow lenders to disburse loan amounts and accept payments directly within the loan management platform. It will also help streamline the payment process for borrowers. This integration eliminates the need for manual data entry or third-party payment processing platforms.

What it does

With this integration, lenders will be able to

  • Disburse loans amounts via ACH and Instant Funding
  • Accept payments easily within SparkLMS.
  • Improve borrower experience with convenient payment options.
  • Streamline payment processing tasks for improved efficiency.
  • Accept payments via Click-to-pay and IVR.
  • Access real-time payment updates and transaction data.
  • Ensure secure and compliant payment transactions.
  • Gain insights from comprehensive reporting and analytics.
  • Optimise lending strategies based on payment trends and borrower behaviour.

Benefits

  • Lenders can accelerate the collection of payments for improved cash flow and financial stability.
  • Offers smooth payment options that boost borrower satisfaction and foster long-term relationships with customers.
  • Provides lenders with greater visibility into payment processing activities for auditing of transactions.
  • Gives access to real-time payment data and analytics for portfolio optimization.
  • REPAY's scalable payment solutions accommodate the evolving needs of lenders and facilitate growth and expansion without compromising performance or reliability.

Pre-requisites

After you onboard your lending portfolio on SparkLMS, you will have to subscribe and set up an account with REPAY to use its features. We will guide you through the entire process of setting up REPAY in your instance of SparkLMS.