BillingTree helps Monarch meet growing market for online web payments while ensuring compliance
Phoenix, Ariz. – August 15, 2013 – 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).
BillingTree Sees Increased Demand for Payment Services from the ARM Industry
New BillingTree survey finds cutting costs and mitigating compliance risks top priorities for Collection Agencies
The proven leader in on-demand payment processing, BillingTree empowers customers with competitive advantage through a simplification of the billing and receivables process. By delivering the most innovative technology while making it as easy and inexpensive as possible to accept payments, BillingTree has revolutionized the payments landscape. Our software-as-a-service (SaaS) model delivers industry-leading payment solutions, proven integration, and point-and-click simplicity. BillingTree’s focus on innovation has allowed us to help more than 1,200 customers eliminate manual processes and automate their payment cycles. BillingTree – Growth is our Business. For more information, visit www.mybillingtree.com or call 877.4.BILLTREE.
RevSpring facilitates over one billion customer interactions annually. It serves a large and diverse customer base across the receivables management, healthcare, financial services, home services and other end-markets. Its core service offerings include data hygiene and analytics, secure document creation and delivery, multi-channel communications, electronic billing and archival services and online payment tools, all while ensuring compliance with regulatory guidelines.
RevSpring was formed by the merger of DANTOM Systems, PSC Info Group, Data Image and BestBill.
Monarch Recovery Management, Inc. is an award winning accounts receivable management company who takes a compliance first approach to collections. Monarch was awarded the “Best Compliant Agency” award from one of the largest financial institutions in the country. We are able to achieve not only compliance awards but also performance awards by our continued investment in technology and training. Monarch is a uniquely qualified collection agency whose focus on a customer service model is leading the way for a fresh approach to collections. Monarch is the next generation collection agency. For more information, visit www.monarchrm.com or call 215-281-7500.
PR for BillingTree
Issuers of news releases, not Targetwire, are solely responsible for the accuracy of the content.