SAN ANTONIO—SWBC is reporting it has enhanced its integration with MeridianLink Collect, a cloud-based debt collection software, SWBC announced.
MeridianLink Collect replaces manual workflows with increased automation, sophisticated analytics, and easy-to-use functionality, according to the company.
“This integration gives our mutual clients another choice when it comes to accessing SWBC’s risk management solutions, such as payments and outsourced collections,” said Cyndy Stewart, vice president of business development for SWBC’s financial institution group.
With the integration, users do not have to toggle between different systems to perform everyday tasks, while it increases efficiency and enhances the user’s experience since individual SWBC products are launched from within the MeridianLink platform, SWBC stated.
“From a payments perspective, integration with MeridianLink Collect enables quick and easy access to SWBC’s payment solution whereby payments are immediately reflected in the MeridianLink Collect solution,” SWBC stated. “The payments application also enables a collections agent to handle multiple payment transactions for the same account holder if they wish to bring multiple accounts current (e.g., late car payment and a late home equity loan payment), once again while working from within MeridianLink Collect.”
‘Exciting New Feature’
In addition, the company said that from a collections perspective, an “exciting new feature” includes the ability for the financial institution to identify delinquent borrowers within MeridianLink Collect and send those accounts to SWBC to perform collections on their behalf utilizing SWBC’s omni-channel solution for text, email, and dialer capabilities to request overdue payments.
When SWBC performs collections on their behalf, any notes, payments, or promises to pay from a delinquent consumer are updated in the MeridianLink Collect platform, SWBC added.
“With more than a decade of successful partnership through lending and account opening integrations, we are excited to expand our relationship with SWBC to now include MeridianLink Collect,” said Chris Maloof, chief product officer of MeridianLink.
Ongoing Improvements
SWBC’s relationship with MeridianLink began in 2007 with the integration of its point-of-sale products within MeridianLink Consumer (formerly LoansPQ).
“SWBC and MeridianLink’s latest work on the Collect integration is indicative of the firms’ continued pursuit of helping financial institutions thrive in a space of growing regulatory complexity and data security requirements,” SWBC said.