Clik2pay and Inovatec Team Up to Make Debt Collection Faster, Easier and Less Expensive for Lenders
Integrating Clik2pay on the Inovatec platform allows lenders to automatically reconcile payments while lowering costs
BURNABY, BC / November 29, 2022 / Payment service provider Clik2pay is announcing a collaboration with Inovatec, North America’s leader in lending process automation. This collaboration will make it possible for Inovatec’s clients to request payment from customers using Clik2pay’s direct-from-account payment platform. This is done safely and securely using Interac e-Transfer®, one of the most trusted money transfer systems in the world.
By integrating Clik2pay into the Inovatec platform, lenders will be able to send emails to collect payments directly from their customers’ bank accounts and have those payments automatically reconcile on the Inovatec platform. For agent-assisted collections, lenders can text the customer a payment link and get real-time notification of payment completion before the borrower hangs up the phone. All with absolutely no chargebacks.
“Clik2pay is always looking for ways to make the payments process simpler,” said David Robinson, Chief Commercial Officer of Clik2pay. “Allowing borrowers to make payment directly from their bank account in real-time through an email or text makes paying incredibly easy for the customer and allows for more efficient collections and payment reconciliation by lenders.”
“We are genuinely excited about this integration,” said Bob Metodiev, Head of Business Development at Inovatec Systems. “Our lending customers can improve their collections processes by requesting payments by email, all while lowering their overall costs, automating reconciliation, and enhancing the borrower’s experience. This saves our customers time and money which is something we could all use more of.”
Inovatec provides customizable, cloud-based solutions that automate the underwriting and decisioning processes for lending companies. The solutions help lenders close more deals, create efficiencies, reduce risk, and better manage loans in the long-term. Inovatec’s technology utilizes sophisticated capabilities such as AI-powered optical character recognition, best-in-class compliance tools, and the ability to better validate applicants’ identities through additional online data sources. The systems deliver richly featured customer engagement experiences that can be tailored to meet the needs of individual lenders.
Clik2pay leverages bank-grade security and the highest standards for risk management by using one of the most secure money transfer systems in the world. Clik2pay supports bill and invoice payments from customer bank accounts by text message, e-mail or QR code. Clik2pay features for businesses include easy-to-use APIs, end-to-end payment tracking, real-time notifications, status updates, transaction history and a complete settlement file.
Clik2pay is first in Canada to deliver real-time, direct-from-account payments for businesses – at virtually every Canadian financial institution. Clik2pay is led by a team with deep business and technology expertise in payments, retail, and digital banking. Additional information and news updates can be found by visiting clik2pay.com or following clik2pay on LinkedIn.
Inovatec Systems Corporation’s proven cloud-based loan origination and loan management solutions improve business outcomes for automotive, power sports, consumer, equipment, and other lenders across North America and additional markets. Inovatec’s uniquely flexible platform empowers lenders to satisfy fast-changing customer requirements, increase revenue, reduce operating costs, and improve customer experiences—all through an intuitive, easy-to-configure and manage interface. www.inovatec.com