SWBC, an international financial services company providing a wide range of insurance, mortgage and investment services to individuals, businesses and financial institutions, has announced that its financial institution group increased its number of clients by 15 percent in 2016 through its integration with MoneyGram International (NASDAQ: MGI), a Dallas-based global provider of innovative money transfer and payment services.
This agreement allows borrowers of SWBC’s financial institution clients to pay their loans at any one of MoneyGram’s more than 33,000 locations nationwide or through the company’s award-winning website, MoneyGram.com.
“MoneyGram and SWBC share a common mission to provide customers easy and convenient access to financial services,” said Ross McFerrin, MoneyGram’s vice president of payments. “This agreement gives customers more choices when they want to make a loan payment. Whether they pay online or at a MoneyGram location, MoneyGram is proud to offer consumers a way to make payments wherever and whenever it’s convenient for them.”
Once the customer makes a loan payment, it is seamlessly reported in SWBC’s AutoPilot Payments technology, and settlement to the financial institution is initiated the same day.
“Our relationship with MoneyGram enables one more added service for our clients,” said Jason O’Brien, senior vice president of AutoPilot Payments at SWBC’s financial institution group. “Not only are borrowers benefitting, but financial institutions are providing a broader reach of being able to serve their customers.”