VoPay and TurnKey Lender Partner to Power Loan Automation and Digital Payments
In a market where lending sits at 9.5 trillion dollars in the U.S., VoPay and TurnKey Lender partner to deliver the most advanced payment processing solutions available for lenders.
VANCOUVER, British Columbia–(BUSINESS WIRE)–#digitalpayments–Canadian based VoPay, a leading provider of integrated payment technology, is pleased to announce a strategic partnership with TurnKey Lender, a global leader in Unified Lending Management, delivering an AI-powered lending automation platform used by traditional, alternative, and embedded lenders in 50+ countries. This partnership provides lenders with an entirely digitized end-to-end process automation, observed to deliver a massive boost to their bottom line.
TurnKey Lender and VoPay are combining forces to further streamline the digitization of every part of the lending process for traditional, alternative, and embedded lenders. While TurnKey Lender platform specializes in the automation of consumer and commercial credit, a meaningful integration with VoPay will allow for quick and efficient automated loan disbursements and installment collections, expanding the capabilities of lenders to meet customer payment preferences.
According to a recent study by PYMNTS, today’s Accounts Receivable departments are spending 23.3% of their time managing payments. With VoPay’s and TurnKey Lender’s integrated technology, lenders can eliminate errors and time spent on the manual processes of loan payments and reconciliations. Decreased FTE worker hours can shift to high-value tasks rather than following up on payment collection.
“TurnKey Lender is renowned globally for their loan management innovation, and we are very pleased to be integrating our technologies and knowledge to create a super solution for lenders,” says Hamed Arbabi, Founder & CEO of VoPay. “Our focus is to provide the most robust and quality payment experience in the lending industry across North America, and this strategic partnership helps to move that initiative forward.”
The solutions created by VoPay and TurnKey Lender will prove beneficial for banks and alternative finance providers alike. However, it is expected businesses willing to offer credit on their products and services to their clients in-house (embedded lending) will reap the biggest benefits of all. Retailers, manufacturers, and healthcare providers will be able to deploy fully independent buy now pay later, leasing, factoring, invoice financing, and other credit products right from the checkout.
“We’re excited to build a long-lasting and fruitful partnership with VoPay. Building a better future for financial technology is a global mega project in which companies like ours have a shared responsibility. Working together and combining efforts – makes the whole ecosystem safer, more efficient, and allows all of us to achieve more.” – comments Dmitry Voronenko, CEO of TurnKey Lender.
VoPay x TurnKey Lender’s complete lending solution is available now, and you can learn more here: vopay.com/
VoPay’s Fintech-as-a-Service platform embeds financial services and payment capabilities into existing applications, products or services through a single and scalable API. VoPay’s unified payment technology stack eliminates the need to build the infrastructure and integrate multiple, disparate financial systems. Businesses can go to market faster and offer innovative financial solutions to their customers.
Discover VoPay’s intelligent and secure bank account payment technology at: vopay.com
About TurnKey Lender
TurnKey Lender is a global B2B SaaS company that offers AI-powered lending automation and decision management solutions and services in 50+ countries and counting. From origination and underwriting to servicing, collection, and reporting – the company’s software can automate the entire lending process just as well as its specific parts. TurnKey Lender supports numerous credit products out of the box – both commercial and consumer – on the same flexible SaaS platform. Designed with the latest design best practices in mind, TurnKey Lender exceeds regulatory requirements for data security, going above industry standards with SOC 1 and SOC 2 Type II compliance reports, the globally recognized PCI DSS and ISO 27001 certifications, and more.
Learn more about TurnKey at: turnkey-lender.com