Automating Collections with Promise to Pay in Digital Lending 2.0

The Future of Collections is Proactive, Not Reactive

In collections, timing is everything. Lenders need tools that enable proactive borrower engagement while ensuring efficiency, automation, and accuracy in tracking payment commitments. The Promise to Pay (PTP) functionality in Symphonix Collections delivers a seamless, automated way to manage borrower commitments—reducing delinquency risk and streamlining follow-up efforts.

With Digital Lending 2.0, lenders are moving beyond static collection processes and embracing intelligent automation, real-time tracking, and borrower-centric experiences. The Promise to Pay feature in Symphonix lending solutions empowers lenders to take control of the collections process like never before.

How Promise to Pay Works in Symphonix Collections

Smart Borrower Commitments with Configurable Workflows

Promise to Pay allows lenders to automate payment arrangements while ensuring clear visibility into borrower commitments. Key features include:

• Automated Promise Validation – The system monitors payments in real-time, verifying whether the borrower met, partially met, or broke their promise.

• Tolerance-Based Evaluations – Configurable tolerance rules allow lenders to accept payments within a set variance of amount or due date without marking a promise as broken.

• Automated Follow-Ups & Queue Management – If a borrower fails to meet their commitment, Symphonix automatically updates the status and triggers a follow-up action for collectors.

• Automated Payment Setup (APS) Integration – When enabled, PTP commitments can automatically generate recurring payment schedules.

Reversals & Broken Promises—Handled Seamlessly

Not all promises are kept, and Symphonix ensures that broken commitments are handled efficiently. The system automatically:

✔ Updates the status to "Promise Broken" if no payment is received within the configured timeframe.

✔ Reverses the status if a processed payment is later reversed, ensuring accurate collections tracking.

✔ Creates manual follow-up tasks for collectors to engage borrowers after a broken promise.

The Competitive Advantage of Promise to Pay Automation

With Promise to Pay automation, lenders experience tangible benefits that drive stronger financial outcomes:

🔹 Reduce Manual Tracking – Eliminate spreadsheets and manual reconciliation with automated batch processing of PTP statuses.

🔹 Increase Borrower Engagement – Structured commitments encourage borrowers to stay on track with payments.

🔹 Improve Collections Efficiency – Automated workflows increase the likelihood of repayment, reducing delinquency rates.

🔹 Ensure Accurate Record-Keeping – Every promise, payment, and status update is recorded with a full audit trail for compliance and reporting.

Powering the Future of Collections with Digital Lending 2.0

In today’s Digital Lending 2.0 environment, lenders need more than just reactive collections strategies. Proactive borrower engagement, real-time automation, and intelligent follow-ups define the future of collections. Symphonix Collections provides lenders with the tools they need to track borrower commitments, reduce broken promises, and maximize recovery rates.

🔹 Are you ready to take collections to the next level? Contact us today to learn how Symphonix lending solutions can help you leverage Promise to Pay for smarter, more efficient collections.