Finastra, Epic River Combine Lending Network, Compliance Technology For Patient Medical Debt Relief
LOVELAND, Colo. – January 21, 2020 – Epic River, a patient lending network that facilitates relationships between healthcare providers and financial institutions, has partnered with global financial technology leader Finastra to integrate a 50-state compliance solution into Epic River’s Patient Lending platform.
Working with Finastra’s Fusion LaserPro Origination Solution, the Epic River platform now automates compliance and regulatory changes state by state in real time. With expanding consumer privacy and data protection laws, this technology solution simplifies the growing complexity for banks and providers.
“Millions of patients can’t afford unexpected medical bills, healthcare providers are losing control of collection costs, and community banks just need the right tool to help both,” said Epic River CEO Jeff Grobaski. “Epic River enables healthcare providers to get paid in full and up front by connecting with community banks and credit unions within our network. By partnering with Finastra, lenders now have full compliance assurance, allowing all healthcare providers to help their patients afford the care they deserve.”
For 35 years, Finastra has led the industry by systematizing legal compliance and technical expertise into its software, supporting thousands of lenders in the U.S with compliant loan documentation and delivery. “By providing nationwide banking capability for the Epic River network, our partnership opens new opportunities for financial institutions to serve their communities,” said Mitch Lucas, Finastra VP, Lending Product Management, Development and Compliance. “Banks can now bring new and defensible assets onto their books with full legal assurance of state and federal compliance. It’s a win/win all around.”
The integration of an automated document delivery and compliance solution into the Epic River network creates a revolutionary new lending product. “This is perhaps one of the most significant financing innovations since the auto loan,” said Epic River Director of Product Jessica Toney. “The partnership with Finastra’s LaserPro technology brings financial institutions a formidable new way to deliver welcome relief to patients and healthcare providers who would otherwise be left to choose between high-interest credit card debt, lawsuits, predatory lenders and bankruptcy.”
About Epic River
Since 2005, the Epic River Patient Lending Platform™ helps solve healthcare’s biggest problems by facilitating relationships between thousands of financial institutions and healthcare organizations to provide low-interest patient loans. Community banks and credit unions gain new customers, providers focus on care instead of collections, and patients are liberated from potentially ruinous financial burdens. For information, visit www.epicriver.com.
Finastra unlocks the potential of people and businesses in finance, creating a platform for open innovation. Formed in 2017 by the combination of Misys and D+H, we provide the broadest portfolio of financial services software in the world today – spanning retail banking, transaction banking, lending, and treasury and capital markets. Our solutions enable customers to deploy mission critical technology on premises or in the cloud. Our scale and geographical reach means that we can serve customers effectively, regardless of their size or geographic location – from global financial institutions, to community banks and credit unions. Through our open, secure and reliable solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of their customers. 48 of the world’s top 50 banks use Finastra technology. Please visit www.finastra.com.