Case Study: Simplified Payments Helps Operational Efficiency Soar 25%

Aug 17, 2022

In this case study, we follow an organization as they integrate VoPay’s Fintech-as-a-Service into their organization. By embedding our payment solutions into their organization, they were able to capitalize on future payment trends. Eliminate the cost of time lost due to manual, labour-intensive business processes. The case study shows how this allowed their productivity to soar by 25% and identifies how payment solutions helped minimize human error, delivering a decrease in operational costs.

Payments have become big business. And for a good reason. Most don’t know that millions of dollars in cash flow are lost every year because lenders use slow, inefficient manual payment processing. When inefficient business processes and manual tasks bog down a high-value organization, the actual costs of labour and time wasted need to be addressed and are no longer justifiable.

With an alternative lending space growing at an unprecedented rate, lenders are looking to stay ahead of the curve and maintain their competitive edge. And that is precisely why this prominent industry lender came to VoPay. When lenders integrate payment processing into their operations, it revolutionizes the antiquated process,  making it one seamless process from loan origination to the dispersal of funds. 

When it came to payment processing, this lender* needed a one-stop-shop system that would help them reduce repetitive and manual tasks, deliver opportunities for automation and shift FTE time to high-value work. 

To be quite frank, the cost-saving has been huge. Whether it be money, time, or staff, it is the amount of time it takes for somebody to think about and then act upon an issue that has arisen from processing payments.”

CEO, Lending Industry

VoPay’s industry-leading payment solutions mean lenders can send and collect mass payments automatically, quickly, and easily. Cut down on costs and add to the bottom line with VoPay’s embedded payment solutions.

Learn how this company simplified payment processing by embedding payments into its operation. Download the case study today! 

* The information and data in this case study are based on a real lending organization; however, to ensure VoPay respects the privacy of our clientele, this case study has been kept anonymous. 

 

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