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. 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.