Payment Processing

Lending is vital to the health of your financial institution. As your loan portfolio grows, you need a loan payment processing system that meets the needs of your borrowers–that means being able to accept cash, card and ACH payments through multiple channels.

A great payment processing platform is more than convenience for your borrowers. It should also be easy-to-use for your staff and eliminate the need to switch between multiple programs to enter, originate, and track payments. Your financial institution needs a payment program that improves efficiency and streamlines your loan pay operations while offering an intuitive user experience for your borrowers.

Payment Processing that’sSimplified, Integrated, and Scalable to You

Multichannel Loan Payment Options

Our borrower-facing portal, BACON Loan Pay, provides a variety of channels for your borrowers to make their loan payments including, desktop, tablet, and smartphone devices. Borrowers can make payments via automated Interactive Voice Response (IVR) or at one of 40,000 MoneyGram® locations nationwide.

Unusual Activity Monitoring

We understand the importance of monitoring and knowing the activity being processed through our payments technology. Our in-house compliance team monitors and informs your institution if any unusual activity is spotted during the transaction process. Our team reviews transactional data daily to look for trends and identify suspicious activity. This service is exclusive to SWBC's payments clients.

AutoPilot® Platform

Payment clients gain access to our scalable and efficient processing solution. Using SWBC's exclusive AutoPilot® web portal, you will benefit from advanced technology which integrates all the services you need to effectively manage your payments program and beyond. Our AutoPilot platform enables us to incorporate multiple business applications such as collections systems, account opening systems and core systems. AutoPilot gives your team the freedom to quickly view detailed reporting, status details, settlement reports, and current transmittals.

Learn more about our AutoPilot Risk Management Platform

Settlement Solutions

Securely and quickly transmitting settlement data offers flexibility around funding. Through our partner integrations, your batch files will get back to your financial institution for quick reconciliation and posting.

SWBC Payment services powers more than 650 financial institutions across the country, processing $3 billion in payments, and 6.6 million transactions per year.

Accepting Paymentsfor Today's Customers

Multichannel Payments Approach

Improving the customer experience for your financial institution means offering products and services in the channels and space your borrowers use most. That's why we've built quality solutions to expand your existing mobile, desktop, and IVR-based self-services channels. Additionally, we have tailored screens for your employees or agents to accept payments over live phone calls. Regardless of channel, we make it easy for your organization to audit and reconcile payments through a single platform.

Powerful Technology

Technology is at the heart of what we do and how we deliver a Payments product that meets the needs of your institution. SWBC has invested significant time and resources on researching and developing the latest in payments technology so our clients have the most advanced tools to better serve its customers. We believe in this intersection of technology and service so much that it is at the core of our company's mission.

Helping Your Compliance Program

You need a payment processing provider that takes compliance seriously. Our dedicated compliance team helps us ensure our product adheres to applicable regulatory requirements. Our application helps with sending required notifications to consumers and provides disclosure scripting for payments made over live calls. We regularly conduct internal audits of our self-service applications for Web Content Accessibility Guidelines (WCAG) 2.0 AA adherence to help ensure users with accessibility concerns are supported.

Request a demo today to see how SWBC’s Payments platform can benefit your financial institution and your borrowers.

Request a Demo

NACHA Preferred Partner

Through our delivery and leadership of innovative product offerings within the payments industry, SWBC was designated a NACHA Preferred Partner for ACH Facilitated Lending Services. SWBC joins an exclusive group of only a dozen organizations who've earned the designation.

By partnering with SWBC, your financial institution can feel confident your payments provider has been independently verified as a trusted service provider

Payment CommunicationPayprompt®

Text payment reminders can help cut through the communications clutter to reach borrowers directly on their mobile device.

How it Works

Your borrower receives a text message at various intervals either before or after delinquency. The message includes a link to your mobile-friendly payment portal. The link allows them to quickly make a payment so they stay out of collections and to ensure your institution receives its loan payment.

Compatibility and Customization

PayPrompt is available for all loan types and seamlessly integrates with our Payments and Outsourced Collections services. Message timing and frequency can all be customized to meet your financial institution's needs.

Reporting

We provide detailed reporting so you can evaluate the success of the messages.

Compliance in Mind

Following compliance and privacy acts, our PayPrompt service adheres to TCPA standard and performs phone scrubs to exclude restricted numbers from receiving messages.

Client Testimonials

“AutoPilot Payments has allowed us to better service our members through the multichannel use of our website, digital channels, and contact centers.”

Kristi Kenworthy

Assistant Vice President of Ecommerce, USALLIANCE Financial

Additional Resources

All
Videos
Ebooks
Case Studies
Blogs
Infographics
OTHER

Case StudyUSALLIANCE

EbookMeeting Consumer Self-Serve Payment Demand

VideoBacon Loan Pay Demo

BlogWarn your Customers About Romance Scams in Payments

BlogHow EMV Technology Affects Financial Institutions

Related Services

Request aDemo

Mega Menu Insert

Payment Processing