Loan Payment Processing - LoanPay

Loan Payments for Financial Institutions

  

CheckAlt's LoanPay offers highly flexible technology for financial institutions to accept payments for auto loans, business loans, mortgages and credit cards across multiple channels. We seamlessly integrate LoanPay with online and mobile banking platforms.

Learn More About LoanPay

Quickly and Easily Accept Loan Payments Online

 

CheckAlt's LoanPay is an online loan payment application that enables financial institutions to accept various loan payments from their customers, including auto and business loans, mortgages and credit cards.

 

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  LoanPay

 

 

 

With LoanPay’s fully hosted, white-label platform, your bank or credit union can process loan payments quickly and easily via debit card, credit card or any checking account. Whether used online, at the branch or over the phone, CheckAlt's LoanPay will help your institution improve processing efficiencies and increase customer satisfaction. 

 

How LoanPay Works

 

Flexible Payments

Using LoanPay, your customers can make one-time or recurring payments. Scheduled payments can be edited or canceled as desired.

 

Seamless Integration

CheckAlt’s LoanPay allows customers to make payments across all channels including in branch, at a call center, online and on mobile. Our solution has the capability to connect multiple payments methods, including debit, credit, and any internal or external checking account.

 

Customizable Features

LoanPay is a white-label application brandable by your financial institution. The functionality available at every role level can be adjusted based on needs. We support single sign-on for both mobile and online banking.


Detailed Reporting

Financial institutions and their customers can quickly access various account data points, including payment due dates, amounts due and current balances, directly from the LoanPay platform. Reports can be filtered in real time and exported.

 

Newly Enhanced Features

 

  • Allows customers to manage multiple loans from a single householding account.
  • Support any user ID or password requirements desired.
  • Generate a downloadable data report as an Excel, PDF or CSV file.
  • Turn on or off debit/credit card recurring payments.
  • Implement a surcharge or fee on any payment.

 

Benefits to Financial Institutions

 

  • Increased efficiencies and accelerated funding by accepting fast and easy online payments.
  • Reduced support calls by providing customers with current loan account data.
  • Improved customer satisfaction by providing convenient payment choices.
  • Complete control over the customer experience.

 

Benefits to Customers

 

  • Avoid late fees by setting up automated payments and receiving confirmations.
  • Increased efficiencies by making payments when and where it is most convenient.
  • Greater insight into your loan payments without needing to contact customer service.
  • Reduced costs and lead times associated with mailing checks.