VoPay and HES FinTech partner to make real-time payments more accessible to Canadian lenders

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Vancouver, British Columbia–(BUSINESS WIRE)–VoPay, a leader in payments innovation, today announced its partnership with HES FinTech, a Europe-based lending software provider, continuing the company’s growing portfolio of loan management partners. fintech. The strategic partnership will allow Canadian lenders to access smarter lending technology and real-time bank account payments using a single solution with rich functionality, helping lenders scale while outperforming competitors in the growing lending market.

HES provides configurable and powerful digital loan solutions out of the box. This strategic alliance becomes a major step in HES FinTech’s expansion strategy in the Canadian market, where the trend of real-time payments is gaining momentum.

According to the Lenders Association of Canada, 82.1% of lenders use EFT-to-bank payments to disburse funds from borrowers, however, the traditional process involves slow, manual file processing and limited payment visibility. Lenders must increase their payment stack to stand out in a highly competitive market that continues to grow every day. Instant payments continue to gain traction in Canada, and with the launch of Payments Canada’s real-time rail service in 2023, the real-time payments market is set to thrive.

VoPay’s payment technology will be integrated with the HES loan management solution, allowing lenders to access real-time payment capabilities, including instant loan funding, simplifying the entire loan process.

“The Canadian lending landscape is going through a major transformation, from how loan applications are submitted digitally to how quickly payments are distributed, lenders are looking for ways to stay ahead of the game,” says Hamed Arbabi, CEO and Founder of VoPay. “HES FinTech was a natural choice for a partnership, with their extensive expertise in the lending software industry, we can offer a combined solution that can transform the lending experience. We look forward to building the partnership with HES FinTech and to see the benefits for our customers.

Same day loan financing is the new industry standard. According to Smarter Loans, in 2021, 53% of loan applicants received funds within 24 hours. As more and more lenders seek advanced technology that prioritizes speed, convenience and customer experience, HES FinTech is seizing the opportunity to capitalize on real-time funding payment options.

“We are pleased to begin our strategic partnership with VoPay, a well-known Canadian provider of digital payment solutions. This allows us to offer customers a fast and seamless integration to make their transactions secure and available at all times” says Ivan Kovalenko, co-founder and CEO of HES FinTech. “We are excited to pool our deep domain expertise and market knowledge to create a lending platform that is powerful in taking our clients’ businesses to a new level.”

The partnership further strengthens VoPay’s position as the preferred provider of advanced payment technologies for lenders in North America.

VoPay x HES FinTech’s integrated lending solutions are available now, contact us today to learn more: vopay.com

About VoPay: VoPay’s Fintech-as-a-Service platform integrates financial services and payment capabilities into existing apps, products or services through a single, scalable API. VoPay’s the unified payment technology stack eliminates the need to build infrastructure and integrate multiple disparate financial systems. Businesses can get to market faster and offer innovative financial solutions to their customers.

Discover VoPay’s smart and secure bank account payment technology at: vopay.com

About HES FinTech: HES FinTech is a leader in providing financial institutions with intelligent lending platforms that drive automation and increase revenue. With 160 clients in over 30 countries, HES Fintech automates loan origination, loan management and debt collection. HES loan box, their out-of-the-box software for loan origination and management, is based on their 10 years of experience developing loan solutions. The platform includes digital onboarding, credit scoring, notifications, data validation modules, payment processing, analytics and reporting.

Learn more about HES loan solutions at: hesfintech.com

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