Several disbursement methods and cash acceptance from a single solution to minimize overhead, improve funds flow visibility, and accelerate growth
ATLANTA, GA (Oct 18, 2022) – Today, KyckGlobal announced the launch of LenderStack, an all-inclusive suite of funds movement solutions for the consumer lending vertical. The product includes numerous disbursement methods in addition to cash acceptance for repayment to maximize customer access and convenience. Comprehensive reporting integrates all payment types, affording lenders unprecedented real-time transaction visibility.
LenderStack features CloudCash, a KyckGlobal product providing decentralized issuance and collection of consumer cash transactions. With CloudCash, borrowers can pick up cash and make loan repayments at more than 25,000 retail locations and ATMs – no debit card required. CloudCash eliminates cash management concerns for the lender, reduces dependence on brick-and-mortar stores, and improves the customer experience for underbanked borrowers.
LenderStack also allows lenders to make immediate disbursements from an array of digital payment methods including PayPal, Venmo, Push to Debit (Visa and Mastercard), reloadable ‘virtual’ prepaid cards delivered instantly via email, reloadable physical cards delivered via USPS, and ACH. All payment methods originate from a single point of reconciliation and funding to reduce processing time, improve security, and eliminate errors. Lenders control the payment array in an á la carte capacity, while borrowers enjoy greater convenience via the ability to choose their preferred payment method. LenderStack functionality can be embedded via API integration for enterprise firms, or accessed via web portals for mid-market lenders looking to scale.
“The high overhead costs of lenders and consumer expectations around payment convenience are on a collision course,” said KyckGlobal CEO Donald Boeding. “With LenderStack, KyckGlobal neatly delivers all the tools a lender needs to attract and delight customers in a single bundle, while reducing overhead and risk. It’s a stellar example of how KyckGlobal accelerates growth for business.”
Original press release available soon.