OrbiPay for Consumer Finance

Receiving, posting and reconciling payments is one of the most expensive parts of making commercial and consumer loans. The cost of processing paper checks, maintaining call centers, and setting up IVR systems is prohibitive. While lenders generally have an infrastructure in place to process electronic payments from other financial institutions, many of these legacy systems lack simple, flexible, web-based interfaces that can be used by customers. Finance companies are unique in that they typically receive a heavy volume of paper checks that require a lockbox service and heavy personnel costs.

OrbiPay can streamline collection and settlement processes by helping you create a user-friendly, web-based payment process that many customers will use to make online payments. It gives your customers a choice of payment methods, payment terms, and the ability to setup multiple types of payments. OrbiPay is designed for both consumer and commercial payments, and has been proven in the automobile finance and consumer lending industries. Close relationships with our banking partners enable us to provide competitive transaction - processing services, reducing the cost and increasing the efficiency of your payment solutions.

For example, at one large automotive finance company, Alacriti supplied an online bill-payment solution that enabled the auto financer to focus on serving its customers. This company now has the confidence that payments are being processed with precision, accuracy and efficiency. Its customers can initiate payments more easily as they adopt secure online business practices - a liberating experience that pays long-term dividends in customer loyalty and satisfaction.