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Eltropy, a leading provider of digital communications technology for community financial institutions (CFIs), has launched a new integrated payments platform designed to cut costs and simplify vendor management for credit unions and community banks.
The system, called Eltropy Payments, consolidates multiple payment providers into a single, enterprise-ready platform. According to the company, it can reduce servicing costs by up to 40% while offering consumers more flexible options to pay on their terms.
“Community financial institutions are drowning in vendor relationships and transaction fees,” Ashish Garg, Eltropy’s co-founder/CEO, said. “Eltropy Payments delivers a fully integrated approach that reduces costs and improves the digital payment experience for consumers.”
The platform supports automated outreach, self-serve portals, direct payment links and agent-assisted payments, allowing members to choose full, partial or installment plans. It integrates with more than 10 major core banking systems, including Corelation KeyStone, Fiserv DNA and XP2 and Jack Henry SilverLake, ensuring real-time posting and accurate reconciliation.
Michael Pupil, Eltropy’s vice president of collections, said the system was built “specifically for the challenges CFIs face today,” emphasizing that unified payment capabilities help institutions simplify operations while enhancing consumer trust.
By combining payments with its broader Unified Conversations Platform, Eltropy aims to help financial institutions streamline collections, lending and servicing while delivering a seamless digital journey. The company said the launch reflects its mission to transform payments into a positive experience for both consumers and staff.
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