With more business happening in the “cloud” nowadays, Repay Holdings Corp. and TurnKey Lender recently finalized a partnership as a result.

REPAY, a provider of vertically-integrated payment solutions, announced its partnership with TurnKey Lender, a cloud-based lending software for evaluating borrowers, decision-making support and online-lending process automation. REPAY and TurnKey Lender both serve clients in the United States and Canada.

The companies explained the integration between REPAY and TurnKey Lender can enable credit unions, finance companies and lenders to fund loans 24/7 and subsequently accept loan payments via card and ACH directly through the TurnKey Lender platform as well as consumer-facing payment channels, including Interactive Voice Response (IVR)/phone pay, text pay, mobile appps and white-labeled online portals.

“We believe our partnership with TurnKey Lender will create major efficiencies in loan servicing, payment collection and reconciliation processes,” REPAY chief revenue officer Susan Perlmutter said in a news release. “The integration between the two systems will create a seamless and convenient payment experience for our clients and their borrowers.

“We’ve assessed that Canadian lenders are largely underserved when it comes to payment options, so we’re excited about the opportunity this presents in filling a void and further empowering the Canadian lending marketplace with this powerful combination,” Perlmutter continued.

TurnKey Lender chief business development officer Elena Ionenko added, “The partnership will streamline the onboarding process for new companies on both TurnKey Lender and REPAY systems by accelerating legal verification and technical connection procedures for new customers who want to use online payment processing.

“Customers can elevate their business operations with lending and payments services at the same time to see substantial growth with their financial transactions, an important win in today’s digital first environment,” Ionenko went on to say.