Payments processing shouldn’t hold you back
Processing payments manually affects business efficiency. Manual payments are time consuming, prone to errors and don’t include real time payment options.
Today, payment methods and automatic payments are now faster than they have ever been. Financial institutions and other businesses must be free to scale without being hindered by payments processing. Businesses must be free to focus on their customers and shouldn’t have to worry about managing payments.
Manual payments processing methods were impacting Jacaranda Finance’ efficiency. Since they operate on a 24/7 basis, Jacaranda Finance needed a payments solution that could integrate seamlessly with their existing systems. What was once time consuming manual transactions are now processed in seconds.
About Jacaranda Finance
Jacaranda Finance provides personal loans. Customers can apply for a personal loan in minutes. Their aim is to provide all customers with flexible payment options, to give them a“fair go at Finance” . Customers are swiftly provided with instant outcomes once they have submitted an application, 24/7, 365 days a year.
Personal loans are then available in customer’s bank accounts, ready for use within 60 seconds. Jacaranda is now a market leader in the lending industry, with thousands of happy customers across Australia.
Market-leading processing times
With Monoova’s APS, Jacaranda Finance processed transactions in seconds. This saved time and money on in-house administrative costs. Direct debit payments and credits were reconciled swiftly. Payouts that once took several hours are now automated.
Paying by direct debit or cancelling a direct debit has also been streamlined by APS. This greatly increased cash flow, business efficiency and customer satisfaction.
Through implementing APS alongside their existing payment system and business model, Jacaranda can now process payments in real-time. Integrating with Monoova didn’t involve complicated software development. One single API integration and Portal to control everything was all it took.
Jacaranda Finance successfully implemented APS through Monoova’s RESTful API’s. Monoova’s solution resulted in market-leading processing times.
Monoova’s payments solution provided them with a full-featured and documented API. The success rate of instant payouts, along with service uptime were greatly improved. Jacaranda Finance seamlessly automated more than 50% of their payments processing.
