REDi’s notification service enables a financial institution to offer account holders real-time announcements
Allied Payment Network, a payment platform company, has reportedly announced a collaboration with REDi Enterprise Development, a leading risk management software company serving the financial services sector.
The partnership brings together the innovative loan payment technology of Allied with REDiNotify communications platform of REDi, enabling loan collection efficiency for REDi’s bank and credit union clients, and enhancing the customers’ digital payment experience.
Sources close to the matter informed that REDiNotify enables a financial institution to offer its account holders real-time announcements, like loan payment past due, maturity notices, due notices, and more, which were traditionally delivered using U.S. mail. Account holders can select to receive the notifications through the delivery channel most suitable for them- email, SMS/Text, mobile push, IVR, or through third-party web API integration.
Apparently, in addition to the loan payment technology of Allied, consumers would now be able to make payments to the credit union or banks effortlessly by clicking a link in the message. For example, a financial institution might send a loan payment due notification through text message. The consumer can click the link in the message to do an instant one-time payment with no additional verification or log in.
The institution could transfer the loan payment directly from the account of user and offers payment verification to the consumer. The entire process from payment to notification can be done within seconds.
According to President of REDi, Chris Renshaw, financial institutions are now seeking digital solutions that offer true value and an excellent user experience. The addition of loan payment technology of Allied to the widely adopted notification platform offers an excellent end to end experience for consumers and enhances collection for the client institutions.
Seemingly, this collaboration with REDi is a natural fit that makes payment simpler for financial institutions and consumers, founder and CEO of Allied, Ralph Marcuccilli said.