Credit Unions are one of the largest indirect lenders and servicing these loans creates many operational challenges. While your goal is to cross sell other products and services to these members, many maintain only the loan relationship. Without the utilization of an advanced loan automation processing system, manually implementing loan payments can be both time consuming and increase your costs as your loan portfolio increases.
DadeSystems offers an integrated loan processing system to provide a better experience for your members and increases your loan servicing efficiency. DadePay for Credit Unions is an automated loan servicing software for your loan administration department. With this integrated solution, members can self-manage loan notifications and make payments through a Credit Union branded ePayment Portal. Members can review their loan information and make payments, which are posted to your loan servicing platform. Payments received at your credit union are scanned and automatically posted to the members’ loan records.
DadePay for Credit Unions Offers an Integrated Suite of Loan Automation Systems for Your Members.
DadePay loan remittance servicing is a loan processing system that automates the loan servicing of direct and indirect loans. Through this loan automation processing system, loan payments and checks are scanned and matched against your indirect loan portfolio. For any payment exceptions, (examples include payment amount mismatch, incorrect loan number, etc.), payments are reviewed and corrected with simple point and click technology. The user is presented with all the payment and loan information, including all document images. Once the process is completed, the checks are deposited electronically with an image cash letter file. A posting file is automatically sent to your core or loan servicing system updating the payments received.
The DadePay ePayment Member Portal allows your members to access the loan processing system for themselves in order to self-service their loans. Once enrolled, the member can receive loan payment notifications to their email or through text messages to their phone. By utilizing our loan servicing software, member can make loan payments one time or scheduled monthly using ACH. All payments processed on the ePayment portal are 100% matched to their loan record and updated to your loan servicing platform. Credit card integration is also available for our loan automation system with no PCI compliance requirements. The convenience to allow your member to update and change their ACH information eliminates your staff from manually updating this in the loan servicing platform and offers the flexibility to change the payment processing dates based on their cash flow to minimize ACH returns.