Two Institutions Start Using Instant Funding

We are pleased to announce that two of our client institutions have recently begun offering Instant Funding to their customers using our new Debit Card Disbursement feature. This allows these institutions to instantly send electronic funds directly to a customer’s debit or prepaid card. That’s right, instantly.

With Instant Funding your customers get their money immediately, which makes them happy and leads to more customers. And you use less checks, cash, and create less paperwork, which makes you happy. It’s truly a win-win.

Debit Card Disbursement Feature

With our new Debit Card Disbursement feature you can transfer funds directly to a borrower’s debit card using either GOLDTrak PC or CIM GOLD. Plus, with our feature, you can load funds directly to one debit card or multiple cards. You can send funds to the borrower, coborrower, or really anyone. It’s incredibly versatile.

REPAY: Our Third-Party Partner

To provide you with the ability to instantly fund cards, we have teamed up with REPAY. REPAY is an industry leader in providing vertically-integrated payment solutions. For more than a decade, REPAY has been innovating the best financial technology and payment processing solutions to make the lives of their clients easier. And we are excited to partner with them to bring our clients even more options.

The Benefits

Just in case you are still on the fence about whether or not you want to start using Instant Funding, here are a few more reasons to help you make up your mind:

1. Convenience

The number one reason you should start using Instant Funding is because it is convenient for your customers. No more going to a bank and cashing a check. No more waiting days for the funds to actually make it into their account. Everything happens quickly and easily. And your customers will appreciate this, which leads us to…

2. More Customers

Okay, this may actually be the number one reason to use Instant Funding, but it’s only here because of Reason 1. If a borrower is choosing between multiple lenders and your institution gets them their money quickly and easily, while the other institutions require them to cash a check, they are going to choose you. And if your customers have a great experience borrowing from you, they are going to remember that and look to you the next time they want a loan. All of this leads to more first-time customers and more repeat customers. And that’s a very good thing.

3. Less Paper

By using Instant Funding, your need for paper and printing will go down. The need to create checks will go way down. Your need for physical cash will also go down. And physical, hard-copy, application paperwork will also be reduced. What do you know, Instant Funding is even good for the environment.

4. Less Card Printing

While you’re not using nearly as much paper as you used to, you can also count on reducing the number of cards you print. Since we can fund directly to a borrower’s existing debit card, your institution won’t need to worry about printing so many new cards. Also a win for the environment.

5. Staying Ahead of the Game

Technology is moving faster and faster and you need to stay ahead of the game to remain relevant. If every other institution begins offering Instant Funding and you’re still offering checks and days of waiting for money, how long will it be before your customer base begins dwindling?

Conclusion

At GOLDPoint, we have two institutions already using Instant Funding and several others have already begun the process and are in the middle of beta testing. Don’t get left behind.

Ready to start offering your customers the convenience and speed of Instant Funding? Ready to become a leader in the lending industry? Let us help you. Contact your GOLDPoint Systems account manager today!