HES FinTech collaborates with Acquired.com
HES FinTech, a Lithuania-based provider of lending platforms, has partnered with Acquired.com, a UK-based provider of payment initiation services.
Through this collaboration, lenders who use HES’s technology will gain access to a payment solution that enables fast loan disbursement and simple borrower-centric collection strategies.
The agreement between HES and Acquired.com, which will help them increase their market share in the UK, aims to accelerate the delivery of business-to-business (B2B) and business-to-consumer (B2C) finance solutions across a range of key industries .
HES needs a partner with extensive experience in the lending industry and one who can offer a range of payment options for borrowers, including Apple Pay, Google Pay and Open Banking, to establish long-term relationships with UK lenders.
Acquired.com’s account update tool will enable HES’ lenders to avoid having to contact borrowers whose card information has expired, been lost or stolen. Allows recurring payments to be taken seamlessly by automatically updating customer payment details without impacting service, benefiting both lender and borrower.
Select Acquired.com
Founded in 2015 and regulated by the FCA Acquired.com is a payments specialist offering specialist, uniquely designed solutions for payment processing. By enhancing the end-to-end lending process with their purpose-built solutions, from loan disbursement processes to optimized ongoing and one-off collections, they are well positioned to help lenders using HES LoanBox.
In addition, Acquired.com’s Pay by Bank solution enables its merchant partners to offer their consumers the ability to authenticate and authorize payments through their bank without having to enter card information or additional credentials. When combined with card payments, this solution allows businesses to use a single platform for account-to-account, gateway and payment collection, with all transaction data displayed on a single dashboard.
Also, the Account Updater tool provided by Acquired.com can automatically update a customer’s card information when it changes. This includes card numbers, cardholder names, card issuers and expiry dates. Therefore, without input from clients, Account Updater reduces the frequency of payments being denied due to expired cards or outdated information.
More information about HES FinTech
HES FinTech, a company founded in 2012, provides sophisticated automation-driven lending solutions to financial institutions worldwide. According to the official press release, HES FinTech’s platforms, which can be made available in as little as four weeks, improve the entire lending process by automating tedious manual operations. In addition, the artificial intelligence (AI) credit scoring solution helps remove the shortcomings of conventional credit scoring and increases non-performing loans by up to five times.
In 2022, we wrote about two of HES’s partnerships. In May, it teamed up with VoPay to give Canadian lenders access to real-time bank account payments. The partnership reinforces VoPay’s position as a payment technology provider for lenders across North America.
In June, HES FinTech partnered with Nordigen to offer integrated end-to-end digital lending solutions with multiple financial providers to rejuvenate the existing European financial ecosystem. The partnership with Nordigen opens up cooperation between Open Banking technology with state-of-the-art loan management software, which opens up new opportunities in the European market.
