QwikFlow cloud-based solution introduced to ensure Regulation E compliance

August 28, 2014

DAKCS Software Systems (DAKCS), a provider of innovative cloud and on-premise software solutions for the Accounts Receivable and collection management industry, has released a patent pending, cloud-based product to ensure Regulation E compliance, accelerate debt payment, automate document and bill presentment, and provide an electronic ‘wet signature’ solution.

The features of QwikFlow will be highlighted in a September 17, 2014, 10:00am MDT complimentary webinar that is open to existing and potential DAKCS customers. QwikFlowPR

Regulation E requires collection agencies to obtain a signed, written authorization from consumers who seek to arrange recurring payments from a checking account during a telephone call for the transactions. Such written authorization could potentially be in the form of a “wet signature” from the consumer on a paper authorization form, an email from the consumer or the consumer could be routed to a payment website or even an IVR.

QwikFlow accomplishes this and also allows for document, bill presentment, payments and ‘wet signatures’ from any mobile device or computer in less than a minute:

  • Regulation E compliant: QwikFlow is completely compliant with Regulation E, which requires a written signature for any preauthorized EFT (Electronic Fund Transfer). This includes any ACH or debit card transactions post dated or set up on a recurring schedule.
  • Text or email initiated: Initiate e-signature, document or bill presentment or payment requests via an automated text or email, rapidly increasing the auto-payment, payment and signature process.
  • No username or passwords required: QwikFlow administrators can create a 4 or 8 digit PIN that will allow recipients to quickly validate their identity and begin making payments right away.
  • Powerful interface toolkit (API): QwikFlow’s powerful application programming interface provides any agency access to the most powerful, enterprise focused, e-signature, bill and document presentment, payment solution on the market. Customers who have internally developed Accounts Receivable management systems or use a non-DAKCS provided software application can utilize DAKCS’ e-signatures, document presentment, and payment solutions.

“We are very excited to offer this groundbreaking product to not only our existing DAKCS customers, but the open interface and cross industry capabilities allow us to engage with a broader market,” said DAKCS President, Lex Patterson.

Always a leader and technology innovator in the Accounts Receivable and collections management space, DAKCS Software Systems has always ensured that compliance was at the center of their product development.

For more information or to arrange an online demonstration visit DAKCS’ QwikFlow page.

For over 30 years, DAKCS Software Systems has been a leader in simplifying the business of Accounts Receivable and collection management by creating innovative cloud and on-premise software solutions.  Whether it is first or third party, we simplify your Accounts Receivable, collection management, predictive dialing/IVR, e-payment, credit and risk scoring, client access, self-service and e-signature requirements with elegantly designed, configurable enterprise solutions.