Swivel, a digital payments solutions provider, has formed a strategic partnership with Paydoff, a collections automation and engagement platform for financial institutions, to support credit unions in improving collections while delivering a seamless member experience.
Through this collaboration, Swivel’s end-to-end digital payment platforms will integrate with Paydoff’s collections automation and engagement tools, allowing credit unions to manage collections more efficiently within a simplified workflow.
The partnership also aims to enhance the member experience by using Paydoff’s collections engagement and automation platform. With machine learning driving the platform, members receive personalised messages through the right channels at the right time, allowing them to interact with their credit union without needing to speak to a live agent, reducing friction and improving their overall experience.
Swivel’s payment solutions, known for their security and flexibility, will support a streamlined repayment process that offers various payment methods, ensuring convenience for account holders, borrowers, and staff alike.
Additionally, the integration will provide credit unions with access to advanced analytics and actionable insights. These data-driven tools will support smarter decision-making and the development of effective collections strategies, with the potential to improve operational performance and reduce delinquency rates.
Swivel SVP, business strategy Cory McDaniel said, “Many of today’s credit unions are seeking ways to modernize collections while offering more flexibility to their members. This integration with Paydoff supports that goal by combining automation, personalization, and secure payment options into one seamless experience.”
Paydoff CEO Richard Formoe said, “We’re excited to partner with SWIVEL to bring this integration to credit unions nationwide. Together, we’re empowering institutions to streamline collections while giving members the modern, self-directed experience they expect.”
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