MegaNews February 2025 – Choosing the Right Provider

Is Your Loan Management Software Meeting Your Needs?

The consumer finance industry is evolving rapidly, and staying competitive requires the right technology. With the expansion of fintech solutions, traditional lenders are rethinking their approach—but with so many options available, choosing the right platform can be overwhelming.

At Megasys, we bring over 40 years of expertise in financial technology to help simplify this decision. If you’re evaluating new solutions, use the checklist below to ensure your platform meets essential industry standards:

✅ Advanced analytics and reporting – Gain actionable insights to drive better decision-making.

✅ Borrower self-service portals – Enhance customer experience with easy access to accounts.

✅ Automated workflows – Increase efficiency by reducing manual tasks.

✅ E-signature capabilities – Streamline loan processing and approvals.

✅ User-friendly interface – Ensure easy navigation for both staff and borrowers.

✅ Email and two-way text communication – Improve borrower engagement and response rates.

✅ Industry partner integrations – Seamlessly connect with key financial services.

✅ Loan management and origination integration – Create a unified lending process.

✅ Multiple payment methods – Offer flexible payment options to borrowers.

✅ Recovery tracking – Manage collections and mitigate risk effectively.

✅ Security and compliance safeguards – Protect your business and customers from evolving threats.

Partner with Megasys for Success

We understand that implementing new software can be challenging, but with Megasys, you’re not alone. Our team works closely with you to ensure a smooth transition, providing personalized support every step of the way.

More than just a software provider, we’re your long-term technology partner. Let’s build a solution that empowers your business for years to come.

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MegaNews January 2025 – Megasys Reflection

The year 2024 was a milestone for us, showcasing remarkable growth in our customer base, alongside several new features and partner enhancements aimed at further enhancing the Omega Loan Management System experience.

As we welcome a New Year with ambitious goals and continued success, let’s take a moment to spotlight the top five most impressive new features of Omega:

  1. TextThread – New Integrated Partner
    • Seamless two-way texting built within Omega to send customized SMS billing and late reminders, marketing messages and free form texting. Manages all compliance related aspects regarding allowed call times, opt-in, and opt-outs. Notifications for Incoming text messages are queued within our task engine and can be assigned to a group or an individual to ensure messages are never missed.
  2. Repay Partner Integration: Disbursements now supported
    • The Omega / Repay electronic payment integration supports the ability to process outbound payments for integrated funding to Borrowers, Dealers and Vendors. Disbursed payments are posted in real-time.
  3. RDN Integrated Partner: New Outbound Integration
    • In addition to being able to create a new RDN Case within the Omega account view repossession tab, we now offer the ability to send RDN events back into Omega automatically via a repossession note task based on user configuration settings.
  4. Insurance Sub Accounts
    • Allows users to add on insurance as an other balance automatically. This allows the balance to be tracked, but interest does not accrue and doesn’t affect the contractual balance of the account. Payments posted follow a waterfall payment order, allowing the user to dictate how and when the insurance sub account gets paid.
  5. OFAC Check
    • Supports the ability to search the OFAC Specially Designated Nationals list for potential customer name matches. Searches can be performed at customer entry for all ‘Active’ customers and minimum scores based on user configuration will be displayed.
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MegaBash New Features Announced!

The Megasys Bi-Annual MegaBash event was a success due to the outstanding support from customers and associate sponsors!

Several new features were announced. The most notable Omega Loan Management System newly released features are:

Omega Analytics

Omega Analytics provides a user-friendly graphical interface to your Omega data. Omega Analytics puts the power of your consumer data in your hands. You can quickly create your own reports, charts, graphs, and dashboards using real-time data from your Omega system. You can setup alerts to notify you when an event happens.

OmegaSign

eSignature integrated solution built into Omega powered by Crypton. Supports ID verification and eVaulting with watermark (ECCA). View all completed documents in the Omega Account view.

OmegaMailer

OmegaMailer can mail billing statements, late notices, and other documents directly from your Omega system. OmegaMailer is powered by FSSI, a premier provider of document outsourcing technology.

OmegaScan

Scan directly into Omega with any supported Twain complaint device!

RDN

Seamlessly create a case in RDN within Omega’s Repo Tracking module.

Repay

New Integrated Payment Partner! Offers Omega Loan Servicing system clients the ability to accept ACH, credit card or debit card payments directly within the Omega system.

700Credit

New Integrated Credit Inquiry Partner for Experian, Equifax, and TransUnion. Supports new credit (hard) pulls and soft pull credit inquiries used to pre-qualify a customer without affecting their credit score.

Loan Application Portal

Applications submitted from the application portal are imported directly to Omega Originations. URL can be embedded to your website to direct applicants to your portal

Loan Application is part of your Customer Portal and branded with your company image/logo.

PassTime Encore

PassTime’s latest wireless device is now supported in Omega to auto-locate and conserve battery

If you are interested to learn more about Omega, please contact the Megasys sales department at 800-927-4490 or email sales@megasys.net.