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Phishing fears push SWIVEL to rethink payment reminders

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Phishing fears push SWIVEL to rethink payment reminders

SWIVEL, the integrated payments specialist owned by SWBC, has launched PayPrompt Pro, a digital communications tool designed to help financial institutions turn loan reminders into completed payments while simplifying reconciliation.

The platform enables lenders to send personalised payment prompts through familiar channels, combining SMS reminders, a Reply-to-Pay function, deep-link payment journeys and digital engagement tools. Integrated into existing financial institution platforms, PayPrompt Pro aims to make it easier for borrowers to move from receiving a reminder to settling a payment.

The launch comes as lenders face growing pressure to deliver convenient digital payment experiences without exposing customers to unnecessary fraud risks. With phishing attacks, spoofed messages and fraudulent payment links undermining trust in digital communications, financial institutions must ensure borrowers can identify legitimate messages and make payments confidently.

PayPrompt Pro addresses this challenge with a Reply-to-Pay feature that allows borrowers to initiate payment by responding “Y” to a text message, removing the need to click an unfamiliar link. Automated reminders can help lenders contact borrowers before payments become overdue, while deep-link payment journeys provide a direct route to the payment process. The platform also offers in-thread payment experiences, branded communications and instant payment confirmations.

SWIVEL says the product differs from general-purpose messaging platforms by being designed specifically around the payment and lending workflows of financial institutions. Its integration with existing systems allows lenders to maintain their branding throughout the borrower journey while streamlining payment collection and reconciliation.

PayPrompt Pro is available immediately as a standalone offering for financial institutions seeking to modernise borrower communications and improve payment engagement.


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