In today’s lending landscape, outdated payment systems frustrate borrowers, leading to missed payments, higher delinquency rates, and lost revenue. Borrowers now expect the same ease of use they find in consumer apps, yet many lenders still rely on inconvenient manual processes. This gap is more than just a technical issue—it’s a strategic risk that can increase operational costs and borrower churn.
Payliance’s Loan Repayment Mobile Service offers lenders a seamless, mobile-friendly platform to streamline loan repayment, improve cash flow, and reduce costs without the burden of custom development. Integrated with Payliance’s ACH and debit processing, it ensures compliance and security while enhancing borrower satisfaction.
Boosting Repayment Rates
Missed payments hurt lenders and borrowers alike. With Payliance’s mobile service, lenders have seen a 30% increase in early repayments, improving cash flow and reducing delinquency rates. Features like automated push notifications remind borrowers of upcoming due dates, leading to faster and more reliable repayments.
For executives, this translates into fewer delinquencies, stronger loan performance, and better financial outcomes.
Reducing Loan Repayment Costs
Save on Development Costs
Building an in-house mobile repayment app can easily exceed $400,000 in development, compliance, and maintenance costs. Payliance’s out-of-the-box solution eliminates these expenses, offering a fully developed, secure, and compliant platform. Continuous updates and support ensure it remains aligned with industry requirements without straining your internal resources.
Lowering Transaction Costs with ACH and Debit Processing
Payliance helps lenders reduce transaction processing fees typically by 10-20%, offering one of the most cost-efficient solutions for ACH and debit payments. By streamlining payment flows, Payliance delivers ongoing savings that directly improve your bottom line.
Debt Repayment Interchange Discount Programs
Through Payliance’s Debt Repayment Interchange Discount Program, lenders can typically reduce debit card interchange fees typically by up to 20%. Unlike other processors, Payliance passes these savings directly to lenders, improving margins on every debit repayment.
These savings and reduced development and transaction costs provide multiple ways to lower expenses while delivering a superior repayment experience.
Enhancing the Borrower Experience
A mobile-first payment solution is essential for modernizing loan repayment processes and retaining borrowers. Features like real-time payment insights, flexible repayment options, and one-time payment extensions give borrowers control over their finances. They can view payment history, schedule or reschedule payments, and even request extensions, all from their smartphones. This convenience increases borrower satisfaction, fosters loyalty, and reduces churn.
The integration of ACH processing and debit card payments gives borrowers the flexibility to choose the payment method that best suits their needs, whether it’s a quick debit card payment or a more cost-effective ACH transfer.
Ensuring Compliance and Security
Payliance’s platform mitigates compliance risks in an increasingly regulated industry by adhering to all necessary financial standards and keeping up with evolving regulations. With industry-leading security and built-in compliance mechanisms, your systems stay secure and aligned with regulatory requirements—without additional resource investment.
A mobile-first repayment solution streamlines operations and is essential for retaining borrowers. With features like real-time payment insights, flexible repayment options, and one-time payment extensions, borrowers gain convenience over their loan management, reducing churn and enhancing loyalty.
The Competitive Edge: Why Mobile-First Matters
Delaying the adoption of mobile-first payment solutions isn’t just a missed opportunity—it’s a strategic risk. Lenders that fail to meet evolving borrower expectations risk losing market share to more agile competitors. A mobile-first solution is now a baseline expectation, and offering a seamless, user-friendly experience is key to staying ahead.
Payliance’s Loan Repayment Mobile Service enables lenders to meet these expectations while improving cash flow, reducing delinquency rates, and cutting transaction costs. Its easy API integration ensures a smooth onboarding process with your existing systems.
Get Started Transforming Your Loan Repayment Experience
Download the Loan Repayment Mobile Service Solution Brief and learn how our Loan Repayment Mobile Service can streamline operations, boost repayment rates, and save you money through ACH and debit processing.
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