LenderPay

Transcription:

Weston Wride (00:12):

Okay. First off, can someone just shout out the last thing you bought on your phone? Anyone want to shout out what you bought today, this morning, or last night?

Audience Member 1 (00:21):

Hotel, Airline, Uber.

Weston Wride (00:25):

Uber? Okay. He took an Uber ride from Miami Beach up this morning. Great job. And how was that experience putting in your routing and account number to pay for that Uber ride? Probably not. How did you pay for that Uber ride? Google Pay. He used his wallet. Why don't we do the same thing for our loan and mortgage payment borrowers? Why don't we give them more options instead of less options to make their
loan payments or their mortgage payments? It should be as easy as booking Uber or buying a cup of latte at Starbucks. Let's show you some language from a large bank regarding loan payment.

Daniel Urbina (01:13):

So this is a top five mortgage lender, and they say you can pay through a bank account, not with a card. Debit cards are not accepted for mortgage payments, but Visa has a special program for this, and 72% of Americans want to pay everything with a debit card.

Weston Wride (01:28):

Again, find reasons to let your borrowers make their mortgage and loan payments with more methods instead of less methods. This spikes on-time payments and reduces delinquency by up to 20% from what we've found, which speeds up cash flow by giving your borrowers more options to pay instead of less. Now, let's see a real-life example in the Lender Pay portal of how this works. Oh, that was Dan and I in Costa Rica—we can talk more about that later if we want—but here's Frank. Okay, let's say Frank is at Costco or Frank is getting ready for the big game or sitting at home, and he's opted in for this text message. Remember, how many of you currently in the last five minutes received a text message? Raise your hand. How many of you are currently texting right now?

(02:27):

This lady right here, I appreciate it. I'm not offended. Okay. 98% of text messages are opened and read. 88% of Gen Z and millennials prefer to pay all their bills via a reminder link. So again, we've got Frank here. He's getting ready for the big Cleveland Browns game (I'm from Cleveland; there's never a big game with the Browns, but we're getting ready for it). He gets this link, clicks that link, and notice here, he only has to enter in a four-digit PIN—no cumbersome, massive project to register and make your loan payment. You don't even have to know your account number, which most of us do not know. Just a four-digit PIN. And let's see what happens when Frank puts in his four-digit PIN.

Daniel Urbina (03:20):

This is a mirror image of your core.

Weston Wride (03:23):

We are simply mirroring whatever you have going on in your core at that second. It populates the payment amount due, shows the stored payment methods, and can add any payment method of plastic, ACH, and, of course, digital wallet. There are plenty of fee options, but I want to focus on one where you do not pay a dime to accept plastic. We suggest a flat fee and pass that on to the borrower. That way, we take care of the interchange in paying Visa and MasterCard their pound of flesh, so that your accounting department does not have to see the convenience fee twice. Frank clicks the button from the comfort of his own home and makes the payment. The second that he pushes that button, wherever he is in the world, that payment posts to your loan in your core, hands-off and automated. And Frank has now just become a 100% self-servicing
borrower. As you can see, he can check his payments history. He can opt in or out of those monthly text and email payment link reminders. We all set reminders. Let your borrower set a reminder to make the loan payment to drive the on-time payments. He can add, edit, or delete his payment methods right here from his phone. Again, paying your loan—any loan: personal, small business, commercial—and any mortgage payment should be as easy as booking an Uber or paying for a cup of latte.

Daniel Urbina (05:13):

Guys, I'm a serial entrepreneur. I've been building merchant processing systems for the last 25 years and sold some of the largest privately held processors out there in the emerging markets. Lender Pay was the first platform to create core-integrated pay-by-text in 2012. The system is ironclad. We have hundreds of banks and credit unions on this platform with over $\$900$ billion in total assets; billions of dollars a year process this way. So we'd love to help you guys increase your cash flow. Like he said, it's a 20% guaranteed reduction in delinquency or increase in on-time payments.

Weston Wride (05:55):

Come by our booth, and if any of you can find me a karaoke bar this evening and will sing with me, we'll waive your setup fees. Thank you. We have nine seconds left.