GAITHERSBURG, Md. — SeaTip Software Systems recently announced that its Loan Information Management System customers will now be provided with gateway services from Payment Vision, which is powered by Autoscribe Corp.

Essentially, Payment Vision is designed to assemble payments captured at such windows as IVR, Internet and call centers, officials indicated.

As part of the partnership, the LIMS loan servicing software will be connected to both the PayWeb and PayIVR gateway services.

As such, the integration provides borrowers with a way to review and make payments through the Internet or phone.

When payments are received through either window, they can be automatically posted in the LIMS system.

"We have seen in our industry a direct correlation between payment convenience and lower default rates," noted Sean Fleming, director of Payment Vision gateway services for Autoscribe.

"Through our partnership not only do payment doors remain open 24-7, the loan servicing system is automatically updated when payments are received," Fleming continued. "The new solutions will play a significant role in allowing SeaTip customers to better grow and manage their loan portfolios."

Mikki Segraves, chief executive officer of SeaTip added: "The customers of today and tomorrow will be demanding to have the flexibility of methods for managing their financial obligations, including various means for making payments in accordance with their lifestyles."

"Currently LIMS, either through internal designed features or integrated third-party services, offers a variety of payment options such as payment coupons, both sheet or book, statements, starter interrupt controls, electronic funds transfer, to name just a few," Segraves continued.

"The addition of Autoscribe's Payment Vision services further extends the payment options to customers of LIMS users as well as reducing the overall payment processing costs, resulting in increased profits," Segraves concluded.