eCredit and PayNet Announce Strategic Alliance

DEDHAM, MA and SKOKIE, IL – eCredit, a leading provider of online software for credit and collections professionals, today announced that it has entered into a strategic alliance with PayNet, the leading resource for industry-specific credit information for the commercial equipment finance industry. This alliance will allow commercial lenders, which include a substantial number of eCredit’s existing customers, to improve both the efficiency and effectiveness of their credit operations.

“The integration of PayNet’s powerful risk assessment tools and payment history data with eCredit’s full-powered credit management software offers distinct advantages for XTRA Lease as well as the rest of the equipment finance industry,” said John Pomilio, Vice President, Customer Financial Services, XTRA Lease. “Incorporating PayNet’s data into eCredit’s already powerful decision support platform will enable us to make even more reliable decisions quicker and as a result, offer exceptional service to our customers.”

“Commercial credit is undergoing rapid change. Combining application software with predictive information provides lenders with increased originations and sound credit decisions,” said William Phelan, PayNet President. “The partnership between eCredit and PayNet delivers this benefit to our clients.”

“This alliance with PayNet is the latest in a series of partnerships designed to enhance the capabilities and performance of our software, making it increasingly applicable to and useful for a variety of vertical markets,” said Jeff Dickerson, eCredit CEO. “Combining our leading online solutions for credit processing with PayNet’s comprehensive database of customer credit data will enable companies to make more reliable credit decisions using the most appropriate data, delivering significant benefit to corporate operations.”

Effective immediately, this alliance is available to new and existing customers in the eCredit and PayNet families.