Repay, known for its vertically-integrated payment solutions, has partnered with Lexop, a self-service software specifically designed for credit unions, financial institutions, and financing companies.
The strategic partnership between REPAY and Lexop is primarily focused on optimizing the repayment process for credit unions and their members. By integrating REPAY’s advanced payment technology with Lexop’s collections management software, the collaboration aims to streamline the collection of late payments, enhance engagement between credit unions and members, and significantly reduce loan servicing costs.
REPAY stands out in the FinTech industry with its integrated payment processing solutions tailored for specific verticals. The company’s proprietary technology platform simplifies electronic payments, ensuring a seamless transactional experience for consumers and businesses alike.
Lexop distinguishes itself as a leading digital payment and collection software solution, revolutionizing the collection experience for credit unions and their members. With features like advanced automation, data analytics, and an intuitive payment portal, Lexop transforms the collection process, making it more efficient and cost-effective compared to traditional methods.
Clients of Lexop now have the privilege of offering an integrated self-service portal, powered by REPAY’s embedded payments technology. This integration not only facilitates easier payments at the convenience of members but also enables credit unions and financial institutions to accept payments through various channels like debit card, ACH, text, mobile, and IVR.
REPAY EVP of Consumer Payments, Jake Moore said, “Collecting late payments can be a stressful and challenging operation for both credit unions and their members, especially when members cannot make payments though their preferred channel.
“REPAY’s integration with Lexop helps to alleviate that burden by offering multiple payment options, making remittance convenient for members and payment updates instantaneous for their financial institutions.”
Lexop CEO and Co-Founder, Amir Tajkarimi said, “Lexop is proud to empower credit unions with flexible payment options and further improve the efficiency of accounting functions through our integration with REPAY.
“We prioritize credit union members’ well-being during the collection process and are confident that the new capabilities enabled by REPAY will enhance our customers’ ability to build strong connections with their members through convenient payment methods.”
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