US-based digital payments fintech Alacriti has entered a collaboration with AKUVO to integrate its loan payment solution into the latter’s collections platform. As part of their partnership, Alacriti and AKUVO aim to allow simplified, in-platform loan payment processing for financial institutions by integrating the former’s Orbipay EBPP loan payment solution into the latter’s collections platform.

Also, the collaboration is set to deliver an optimised payment processing service that can be directly included in the collections procedure. Moreover, when it comes to financial institutions leveraging Alacriti’s loan payment solution, the integration is set to enable a fully consolidated loan payment experience, covering loans that are current, delinquent, and in collections. Afterwards, this delivers the financial institution visibility across all their loan payments, regardless of how they are processed.  Also, the move aims to optimise AKUVO’s offering by enabling collections agents to process payments directly within its platform.

Through this, agents are set to have the ability to remove the need to switch between systems, thus simplifying operations. Alacriti and AKUVO’s integration capabilities By integrating Alacriti and AKUVO’s solutions, the two companies plan to enable collections agents to process card or ACH payments directly within their workflow, with this embedded functionality supporting them in managing past-due loan payments more effectively, without being required to leave the AKUVO platform. According to Alacriti’s officials, the merger between the company’s payment features and AKUVO’s collections platform is set to develop an advanced tool that financial institutions can benefit from.

The partnership delivers on Alacriti’s commitment to eliminate difficulties and barriers in the payment process for financial institutions. Furthermore, representatives from AKUVO highlighted that this alliance intends to allow customers to benefit from a more convenient, integrated solution that increases visibility and operational efficiency across payments. Through its solutions, AKUVO focuses on offering the technology and data necessary to expand collections efficiency, deliver a digital customer experience, minimise staff costs, anticipate delinquencies, and offer insight into future credit decisions. .