SWIVEL has launched PayPrompt Pro, enabling financial institutions to send payment reminders and simplify borrower payment journeys.
SWIVEL, a subsidiary of US-based SWBC, has introduced PayPrompt Pro, a digital payments communications solution designed to help financial institutions turn payment reminders into completed borrower payments and speed up reconciliation. Embedded within financial institutions’ existing platforms, the solution combines SMS payment reminders, Reply-to-Pay functionality, deep-link payments, and further digital engagement capabilities. PayPrompt Pro is available now as a standalone SWIVEL product.
Reply-to-Pay and deep-link payments
With Reply-to-Pay via SMS, borrowers can respond to a payment reminder with a simple ‘Y’ to initiate payment, which reduces friction and addresses concerns about clicking on unfamiliar links. Automated payment reminders allow lenders to contact borrowers before payments become delinquent, while deep-link payments take borrowers directly to the payment step in a single tap, with in-thread payment options designed to shorten the path from reminder to payment.
The solution integrates directly into existing financial institution platforms and is fully white-labelled, so the institution’s branding appears throughout the borrower journey. Borrowers also receive immediate confirmation once their payment has been received and recorded. SWIVEL positions PayPrompt Pro as a product built specifically for financial institutions’ payment and lending workflows, in contrast to broader communications platforms that treat payment reminders as one feature among many.
Balancing convenience with trust
According to SWIVEL, borrowers increasingly expect digital convenience, but growing concerns about payment fraud, spoofed messages, and phishing have made trust as important as speed. Amanda Licona-Crocker, President of SWIVEL, stated that financial institutions have spent years making payments faster and more convenient, and that the challenge now is ensuring those interactions feel equally secure. According to Licona-Crocker, borrowers want an easy way to keep up with payments while knowing they are dealing with their financial institution in a familiar environment.
SWIVEL’s platform supports Apple Pay, debit, credit, and ACH payments and serves more than 2,000 clients, including financial institutions and the software companies that support them, with risk management controls applied to each transaction. By allowing borrowers to pay through a reply rather than a link, PayPrompt Pro is designed to reduce exposure to one of the most common phishing methods while keeping the payment process within a channel borrower already use.
