ECM is a hosted, secure, and PCI compliant application that provides borrowers with convenient options for making their consumer loan or credit card payments. It provides institutions with an efficient method of authorizing, tracking, and collecting these funds.
SWBC’s ECM solution will allow:
- Increased collection rates and timing, and reduced collection costs
- Improved member self-service through multiple, private-labeled payment channels
- More accurate accounting, simplified reconciliation, and greater control over collections
SWBC’s ECM solution can:
- Improve operational efficiency
- Increase cash flow
- Improve borrower experience and satisfaction
- Guarantee NACHA compliance
With ECM, financial institutions can accept payments through multiple convenient payment channels using any credit or debit card or from any checking or savings account. We’ve built the technology so you don’t have to, and let you implement the payment channels that you need for the way you do business:
Pay-by-phone
Borrowers may make their payments by phone 24/7 using an automated Interactive Voice Response system:
- Service is available 24/7 with bilingual voice recognition built-in
- Payment support representatives available during business hours
Online payments
Borrowers click a link on your website to visit the private-labeled payment center:
- Customizable, private-labeled payment site, available 24/7
- Strong data security with 128-bit encryption using VeriSign Secure Server technology
Staff-facilitated payments
Your staff can quickly and easily take payments from borrowers by accessing ECM themselves through a link to our secure application.
- Perform single or recurring transactions from multiple, secure payment methods
- Supports all NACHA-defined transaction guidelines for Record of Authorization, prearranged payment and deposit entry (PPD), telephone-initiated entry (TEL), credit cards, and web.
- Schedules future drafts to dramatically increase the likelihood of timely receipt of payments.
- Robust reporting capability allows full tracking and real-time analysis of transactions by status, with loan-level posting for speed and simplified reconciliations.
- Automatically re-presents NSF items, based upon pre-defined rules. Returns are matched with original transactions and prompts for action are built-in.
- Automatically sends private-labeled payment notifications directly to borrowers via email or mail.
- Verifies ABA routing numbers, with a convenient repopulate feature, to minimize transaction time and reduce failures due to input errors.
- Our flexible platform can be easily integrated for quick functionality. For Akcelerant™ users, the framework can be fully integrated for the highest level of integration and greatest functionality.