BillingTree, one of the nation's leading on-demand payment processors, announced today that industry-leading accounts receivable management company Monarch Recovery Management, Inc. has extended its payment infrastructure by adding an advanced on-line payment processing portal.
The new portal offers value-added processing services to Monarch's banking clients and caters to their customers' need for self-service, while meeting debt repayment requirements and mitigating risk.
BillingTree partnered with RevSpring™ to supply integrated payments within an advanced web portal, enabling Monarch's banks to customize their own business rules. The online service allows the bank's customers to negotiate acceptable payment plans 24/7, specifying frequency and agreed upon payment amounts. Because negotiation and payment acceptance are automated, without agent intervention, it ensures that the bank's process remains fully compliant with rules and regulatory requirements.
As Anthony Mazzacano, Chief Strategy Officer at Monarch Recovery Management explained: "Keeping our perfect compliance record is a top priority for Monarch at a time when we expect growth in the market for on-line payments to reach as high as 50%. We understand the importance of acquiring new technology to improve performance for our clients and as a result of our long-standing relationship with BillingTree, we are extremely excited to be able to offer our customers the industry's most advanced processing capabilities."
Empowered with BillingTree and the new RevSpring eServices offerings, Monarch plans to extend its services into additional markets within the banking industry to enable smaller regional banks and Credit Unions to offer advanced customer on-line payment plans.
Monarch takes a "Compliance first approach to collections," and earned the "Best Compliant Agency" 2012 award from one of the largest banks in the country. BillingTree services are PCI and SSAE 16 compliant and the company was recently accredited with an 'A+' rating by the internationally respected independent Better Business Bureau (BBB).