With collecting payments in the headlines nowadays, REPAY announced a new integration with Emotive Software this week.

The companies highlighted auto finance companies can now take advantage of the combined functionality of REPAY’s convenient, automation-enabling payment technology and Emotive’s comprehensive loan management capabilities in a single platform.

REPAY and Emotive said the integration expands loan payment automation functionality, delivering a range of benefits to dealerships and lenders leveraging Emotive’s platform.

REPAY’s advanced automation capabilities can ensure payments are processed and tracked instantly, enabling dealerships to maintain strong relationships with their borrowers and eliminate the risk of accounting errors or late payment charges caused by processing delays.

The companies said enders are provided with a detailed, accurate record of borrower payment activity and balances, which can be analyzed to identify payment anomalies and trends before any issues impact business operations.

Lenders and dealerships that provide financing services also can offer borrowers the benefits of REPAY’s payment flexibility.

With REPAY, Emotive can allow lenders to accept and track payments made via debit and credit cards, digital wallets, and ACH transactions across multiple channels, including online, text, mobile and interactive voice response (IVR). This enables borrowers to submit payments wherever they are and when it is most convenient, leveraging the payment methods they already use on a daily basis.

Lenders that offer the convenience of modern payment modalities can also more easily attract new borrowers and scale business operations, according to the companies.

“We’re excited to partner with Emotive Software to extend our proven payment solutions to more automotive businesses seeking to elevate customer relationships while optimizing accounting operations,” said Jake Moore, executive vice president of consumer payments at REPAY. “This integration eliminates friction for dealers, lenders and consumers by enabling seamless payment processing and tracking within the Emotive platform.”

Together, REPAY and Emotive want to address key pain points in the auto finance industry by consolidating payment processing directly within dealers’ and lenders’ existing workflows.

The companies pointed out that processing payments without switching between multiple platforms can reduce manual data entry errors and administrative overhead costs.

REPAY and Emotive added this integrated solution also can provide real-time payment tracking and reporting, giving lenders better visibility into their cash flow as well as borrower payment histories.

“Integrating with REPAY offers our clients a leading payment solution that’s fully integrated into their daily operations,” Emotive Software CEO and founder Allen Dobbins said. “By combining Emotive Software’s comprehensive capabilities with REPAY’s payment expertise, we’re providing our users with the tools they need to enhance their operational efficiency.”