TimePayment Raises Its Automated Approval Limit to $25K
Summary
TimePayment, an award-winning FinTech company specializing in commercial and specialty equipment lease financing, has announced that it has raised its limit for automated approvals for qualified lessees from $15,000 to $25,000. By leveraging the FinTech firm’s multiyear investment in upgrading and automating its technology platform, the move allows TimePayment to better serve both its vendors and end customers in the face of rising equipment costs. Alyce Reilly, TimePayment’s Senior Vice President of Credit & Funding, says that anticipating customers’ needs drove the change. Over the last three years, the Fintech company has made a substantial investment in an organization-wide upgrade and migration of its legacy systems to a modern, responsive technology platform. According to Reilly, “Our updated system automation creates efficiencies and reduces complexity, allowing us to improve our customer experience and decrease sales cycle time.” Reducing friction in the customer experience is a priority for Jay Haverty, TimePayment’s President & CEO.