An Answer to Efficient Loan Management

Tier3 and LoanPaymentPro announce their integrated partnership.

This strategic partnership streamlines and simplifies the way consumer lenders run their business.

BLOOMINGDALE, IL, UNITED STATES, October 30, 2023 /EINPresswire.com/ — LoanPaymentPro, an industry leading merchant services and payment processor for consumer lenders, has announced their integrated partnership with Tier3, Answers Etc.’s full-scale loan management software. Tier3 is a multi-frontend financial software solution that offers their customers an enterprise-class solution for loan management software, check cashing software, point-of-sale software, and more. Paired with LoanPaymentPro’s proprietary payment processing technology, this exciting partnership will help Answers Etc.’s more than 3,000 lenders and consumer finance providers streamline and automate their loan originations from application to debt repayment.

An overarching goal for the consumer lending industry is to find the most cost effective, customizable, and compliant software solutions to provide their borrowers with a seamless end-to-end loan process. From loan origination to debt repayment, borrowers and lenders alike seek simplicity.

What becomes inherently necessary when searching for and implementing these solutions are automation and reliability. As fully integrated partners, LoanPaymentPro and Tier3 have been empowering consumer lenders with comprehensive loan management solutions, fund distribution, and repayment solutions, all in one platform.

“This partnership represents a shared commitment to revolutionize the lending industry by delivering next-level payment solutions to customers,” commented James Celli, LoanPaymentPro’s founder and CEO. “With LoanPaymentPro’s cutting-edge technology and Answers, Etc.‘s unrivaled industry experience, the partnership of Tier3 and LPP is poised to unlock a new era of efficiency and convenience for borrowers and lenders alike.” James continued, “Our combined expertise will enable us to tackle complex loan payment challenges and deliver innovative, customer-centric solutions that exceed expectations. We couldn’t be more excited to embark on this journey with Answers, Etc. and make a meaningful impact on the financial landscape.”

LoanPaymentPro’s payment processing technology comes from thorough participation and understanding of the consumer lending realm. Developed by lenders for lenders, LoanPaymentPro provides the most compliant and cost-effective Bankcard, ACH, Instant Funding, and Debt Repayment platform for all types of lenders, including state-licensed and non-state-licensed lenders. Their proprietary payment Validation and

Verification functions decrease fraudulent transactions, increase successful payments, and simultaneously reduce borrower defaults.

Pairing this innovative technology with Tier3’s sweeping list of solutions has propelled the borrowing journey for lenders and consumers alike.

“By consummating the partnership and seamless integration between LoanPaymentPro and Tier3, our mutual clients will gain the advantage of both groups’ top-tier technology and service – values highly regarded by both companies,” said Scott Merritt, President of Answers, Etc. He continued, “Tier3 will marry the expertise in the payment processing world from LPP with the innovative, disruptive LMS technology that Answers, Etc. has pioneered throughout our 34 years in the short-term consumer loan industry. Saying we’re excited doesn’t begin to describe our feelings to have secured such a significant partnership in the space.”

Offering an extensive variety of solutions that automate financial service centers, the Tier3 Loan Management System was designed for both online lenders and brick-and-mortar storefronts. Tier3 offers galvanizing functionality that ranges from check cashing and consumer loans to auto title loans and multi-store data sharing, all within one robust real-time network solution. Tier3 enables lenders to serve their customers with an intuitively designed interface, on the web, in the lobby, or at the teller windows, seamlessly, with the products and services they want and demand.

Lenders are completely supported through this strategic partnership. Combined with LoanPaymentPro’s flexible repayment options, multiple fund distribution methods, payment tokenization and type verification, bank account validation, and multiple exclusive ODFI Sponsor Bank relationships, Tier3 LMS has helped simplify the origination process for countless lenders.

“Tier3 is one of the most robust and advanced loan management systems I’ve seen in my close to 20 years in the lending space” said Michael Perkins, EVP of Channel Partnerships. “Answers Etc. has long been one of the leading platforms in the industry for storefront lenders, and their Tier3 platform is going to truly disrupt online lending.”

Through this partnership, LoanPaymentPro’s processing technology is directly integrated into Tier3 so that consumer lenders can accept, collect, and reconcile payments directly within the Tier3 platform. Additionally, all loans processed through the integration are securely communicated and stored using LoanPaymentPro’s tokenization solution. This outlines the secure path for data to be comprehensive and accurate for reporting.

Both Tier3 and LoanPaymentPro are ecstatic that this strategic partnership has launched because it allows both servicers to expand their product offerings while also helping their clients reduce costs on both ends of their operations (loan origination vs debt repayment). Ultimately, the partnership helps lenders maximize investment dollars while converting more, better-performing loans.

Consumers can also share in the excitement, perhaps on a lesser-known level. Their borrowing process and approved loans can be accessed through a single platform and can find relief in knowing the process is handled by experts, who ensure the smoothest possible borrowing journey.

“At Answers, Etc., technology, function, and innovation are our drive and focus every day,” said Todd Pebles, Director of Business Development. “Our partnership with LoanPaymentPro will provide major advantages for our lending clients by creating greater efficiencies in loan servicing and payment collections and we are excited to bring these solutions to our lending partners.”

Michael Perkins
LoanPaymentPro
+1 888-391-5901
[email protected]
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