Clay has announced its partnership with GoCardless in order to streamline loan disbursements and repayments at scale.
Following this announcement, Clay will leverage GoCardless in order to unify its entire payment process onto a single, scalable platform. Furthermore, it will also utilise GoCardless’ Direct Debit capability to collect repayments and Outbound Payments, the disbursement product, to pay out loans.
In addition, through the process of using one provider to collect and send payments, Clay is expected to streamline its operations and reduce manual work, as these efficiencies are expected to be extended to the customer experience as well. The partnership will allow borrowers to receive their funds faster, while the automation process will minimise the opportunity for human error. This is also set to give Clay’s team more time to focus on strategic growth and build an overall optimised business.
More information on the Clay x GoCardless partnership
According to the official press release, Clay has also started to implement GoCardless’s Open Banking feature, Instant Bank Pay, in order to collect one-off payments, with the possibility to support Variable Recurring Payments (VRPs) in the future. At the same time, both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
GoCardless's secure and optimised solutions will give Clay the possibility to stop worrying about its payments, allowing its team to be more efficient, reduce manual errors, and focus on development and building an improved business for clients.
