Onyx IQ Customers Can Now Use Actum Processing

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Onyx IQOnyx IQ recently announced a new partnership with Actum Processing. Customers of Onyx IQ, a loan & MCA management company founded in 2017, will now be able to process their ACH payments using Actum.

“The lending space happens to be one of our most productive niches, being that funders and brokers need a means to collect payments and fund deals,” said Vincent Lipari, President of Actum, “the ACH network is that vehicle and Actum takes pride in delivering reliable services for our clients.”

Onyx IQ, described as a “digital lending platform that enables you to fully automate every aspect of your business” and led by smb finance veteran Jay Keller, launched its software this past July.

“It’s a workflow solution with all the appropriate integrations and all of the reporting that the MCA and alternative lending spaces might need,” said Elizabeth Schuerman, VP of Sales at Onyx IQ.

The arrangement between the two companies is not mutually exclusive. Onyx IQ customers can use other processors if they so choose and Actum does ACH processing in many spaces outside of lending including the shipping space, fantasy sports, gaming, and more, but the collaboration is significant for another reason; Both individuals, Lipari of Actum and Keller of Onyx IQ, have known each other for roughly 11 years and ironically had never done any business together. When the opportunity presented itself, their non-business relationship grew into this newfound partnership.

“Integrations like the one we have with Onyx IQ help Actum attract more quality lenders, which is good for growth in transactions and revenues,” Lipari said.

Overall, the deal “allows net new customers to start funding in as little as 2-4 weeks, processing ACH payments and paying commissions on the rails that already exist between the two platforms,” an official statement says.

Last modified: October 18, 2022
Anaya VanceAnaya Vance is a reporter for deBanked. Connect with me on LinkedIn.

Category: Fintech

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