News Details

Real-time tracking and streamlined payments serve to boost borrower-lender operations, experiences and relationships

ATLANTA--(BUSINESS WIRE)--Jun. 5, 2024-- Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY”), a leading provider of vertically-integrated payment solutions, today announced new enhancements to the company’s integration with partner CU*Answers, a 100% credit union-owned, Credit Union Service Organization (CUSO) that provides core processing solutions and services for hundreds of credit unions across the U.S. Various new features, including real-time payment posting and tracking, simplified sign-in capabilities, and streamlined loan payment modalities are designed to benefit both the members and business operations of credit unions utilizing CU*Answers’ CU*BASE platform.

As an integrated partner, REPAY enables CU*Answers’ wide network of credit union clients to streamline processing efficiencies by securely accepting ACH and card payments via web, mobile, Interactive Voice Response (IVR) or text. Offering a wide variety of payment modalities provides borrowers with options to make loan payments in the way that is most convenient for them and enhances the overall member experience.

Regardless of payment method, REPAY’s integrated platform tracks, logs and posts payment data to the CU*BASE core platform. Real-time posting is designed to ensure payment updates and information are reflected in credit unions’ records immediately after a payment is submitted, mitigating the risk of invalid penalties and unnecessary collection efforts that are triggered for past-due payments. This not only smooths accounting processes for credit unions, but also supports better relationships with members due to improved trust and communication.

“When borrowers are provided with the opportunity to make secure, speedy payments in the method and time that is most convenient to them, all stakeholders benefit from better payment experiences,” said Jake Moore, EVP, Consumer Payments, REPAY. “These improvements to our integration with CU*Answers will enable credit unions and their members to increase trust and communication, ultimately forging better relationships thanks to modern payment technology capabilities.”

Single Sign-On (SSO) capabilities further serve to benefit borrower-lender relationships by streamlining the digital payment experience for credit union members. SSO enables members to access REPAY’s payment portal directly through CU*Answers’ It’s Me 247 Online Banking platform without re-entering their login credentials, which increases the speed and convenience of the payment process. Authenticating users with SSO functionality also protects members by reducing opportunities for incidents that could impact the security of login credentials and financial information.

“We are constantly refining and upgrading the ability of our platform to support our credit union clients’ collection operations and help them meet member demands,” said Geoff Johnson, CEO of CU*Answers. “The integration with REPAY helps us to achieve those goals, and we are proud to offer these new benefits to our customers in collaboration with the REPAY team.”

About REPAY
REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for clients, while enhancing the overall experience for consumers and businesses.

About CU*Answers, Inc.
CU*Answers offers expertise in implementing technical solutions to operational needs, and is a leader in helping credit unions form strategic alliances and partnerships. CU*Answers provides a wide variety of services for credit unions including its flagship CU*BASE^® processing system (online and in-house) and Internet development services featuring It’s Me 247 online and mobile banking. Additional services include web development, network design and security, and image check processing. Founded 50 years ago, CU*Answers is a 100% credit union-owned cooperative CUSO providing services to credit unions representing nearly 2 million members and over $21 billion in credit union assets. For more information, visit www.cuanswers.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240605703996/en/

Investor Relations Contact for REPAY:
IR@repay.com

Media Relations Contact for REPAY:
Kristen Hoyman
khoyman@repay.com

Source: Repay Holdings Corporation