SWIVEL Transition FAQs 

1. Who is SWBC?  

As a diversified financial services company, SWBC provides financial institutions, businesses, and individuals with a wide range of insurance, mortgages, wealth management, employee benefits, and more. Headquartered in San Antonio, Texas, SWBC has partners and divisions across all 50 states and manages business around the world. No matter how wide its reach, SWBC always listens to our customers’ needs, analyzes their current situations, and recommends customized solutions. For more information about our innovative approach to personalized service, visit SWBC’s website at www.swbc.com. 

2. Who is SWIVEL?

SWIVEL®, an SWBC company, offers a transaction enablement platform that simplifies the use of Apple Pay®, Debit, Credit, and ACH for payments. The platform serves over 2,000 clients, including financial institutions, K-12 education institutions, and the software companies that support them. SWIVEL integrates with existing systems to manage payments, streamline operations, and provide user engagement tools. With tailored risk management controls for each transaction, SWIVEL helps businesses maintain compliance and improve payment processes. The company is a wholly owned subsidiary of SWBC, headquartered in San Antonio, Texas. Find more information at www.getswivel.io. Apple Pay® is a registered trademark. 

3. What is actually changing? 

By the end of 2025, all LoanPay Xpress clients will be transitioning to the upgraded SWIVEL platform. After the onboarding is complete, you and your account holders will start using new and modern channels/UIs for loan payments, new account opening, etc. 

4. How will this change impact our financial institution and its’ account holders (members/borrowers)? 

We are assigning a dedicated resource from our Implementations team to work directly with you and ensure a smooth transition. All account holders will need to recreate their credentials in the new user interface. We will provide training, documents, demonstrations, etc., throughout the process to ensure your comfort and satisfaction. 

5. What are the key benefits of this change? 

A Unified Platform for Multiple Payment Channels

  • SWIVEL Pay is our account holder facing platform. It’s your solution for effortless and easy loan payments on mobile or web, one-time or recurring, ensuring a hassle-free experience for you and your account holders. Reduce call time, establish security among your account holders, and even save money with our Self-Serve Online Payments.
  • The AutoPilot® suite of software and services is a cohesive, mobile-friendly, browser-based platform that can help your institution efficiently manage your loan portfolio risk and operations. Our technology combines everything you need into one simplified dashboard.
  • Our Interactive Voice Response (IVR) offers natural language processing and multilingual support through our automated phone system.

A Comprehensive Network of Integration Partners

  • Home Banking: Alkami, Q2, Banno, Digital Insight and others
  • Collections: Akuvo, MeridianLink, Temenos
  • Texting: Eltropy
  • NAO (New Account Opening): Origence, Temenos, Terafina and others

Enhanced Security & Risk Management

The SWIVEL Platform safeguards your transactions and payments with unusual activity monitoring, actionable messages to your risk teams, and a range of fraud, AML, and BSA detection capabilities. 

Robust Reporting & Analytics 

The AutoPilot® Portal features easy access to invoicing, settlement reporting, returned transactions, chargebacks, and more!

6. Will there be any expected outage? 

No, there is no expected outage or downtime during the transition to SWIVEL ecosystem. 

7. What is SWIVEL Pay?

SWIVEL Pay is our Digital Payments Platform. It’s your solution for effortless and easy loan payments on mobile or web, one-time or recurring, ensuring a hassle-free experience for you and your account holders. Reduce call time, establish security among your account holders, and even save money with our Self-Serve Online Payments. 

8. What is AutoPilot® Portal? 

The AutoPilot suite of software and services is a cohesive, mobile-friendly, browser-based platform that can help your institution efficiently manage your loan portfolio risk and operations. Our technology combines everything you need into one simplified dashboard.   

9. How does SWIVEL Pay work?

For a SWIVEL Pay Express Pay Transaction:

  • A borrower can submit an ACH or Debit Card payment via Express Pay without creating an account on SWIVEL Pay.  Watch this video about SWIVEL Pay to learn more.

For a SWIVEL Pay Registered Transaction:

  • A borrower can submit an ACH or Card payment via a registered account on SWIVEL Pay.

10. What will happen to my other products or services offered through Magic-Wrighter?  

Loan Pay Xpress is the only product that will be transitioned at this time.  

11. Can the account holder update their email or password for a registered profile?

Yes, please refer toSWIVEL Pay – Register Profile – Email UpdateandSWIVEL Pay – Register Profile – Password Update. 

12. How can an account holder get into their account if they forget their password?

If an account holder forgets their password or locks themselves out after three login attempts, please refer toSWIVEL Pay – Register – Forgot Password. 

13. Can an account holder store payment information?

Yes, they can store ACH and Debit Card payment information with a registered profile. Refer toSWIVEL Pay – Connect Your Account – Passive ACH Account VerificationorSWIVEL Pay – Connect Your Account – Active ACH Account Verification.  

14. How does SWIVEL Pay support account holders while maintaining ADA compliance?
 Supported WCAG 2.1 AA Standard Capabilities:  

  • Keyboard Accessibility
  • All interactive content is accessible via a keyboard interface.
  • When navigating a page using the keyboard, focus will be visible to the user, so they know where they are on the page
  • Tab order will enable users’ proper navigation of the site using a keyboard interface
  • Page Zoom
  • Text is resizable up to 400% without having any content truncated or loss of functionality
  • Contrast
  • The site offers sufficient color contrast between the background and foreground colors, which increases readability and provides a good experience to users with color visibility impairments
  • Screen Reader  

Supports screen reading tools such as ARIA & JAWS to convert text to speech for users with visual disabilities:  

  • Input Field Labels  
  • Headings & Titles  
  • Hidden Texts  
  • User Instructions  
  • Error Messages 

Speed & Convenience:  

  • Improved user experience that reduces the number of clicks taken to submit a payment  
  • Simple and intuitive user interface that gets the job done 

15. How does this upgrade impact transaction processing and settlement workflows? 

At the end of each business day, SWIVEL sends your institution a posting file for same-day credit to account holders for that day’s loan payments. Lump sum settlement of funds occurs next business day. Transactions are processed via SWIVEL’s correspondent banking partners instead of the Federal Reserve. In turn, your institution is no longer required to act as the ODFI. 

16. How are ACH returns handled? 

All ACH returns flow through SWIVEL and its correspondent bank instead of the Fed. Auto retries are also available. 

17. Will Credit Cards continue to be accepted as a form of payment? 

Due to evolving card industry compliance rules, Credit Cards are no longer considered an acceptable form of payment for loan accounts. Debit Cards however are still allowed (and ACH). Payments for other non-loan transactions may continue to accept Credit Cards. 

18. Will my financial institution continue to contact Magic-Wrighter for LoanPay Xpress service and support? 

Yes, the Magic-Wrighter Customer Support (CSR@magicwrighter.com) and Sales teams (Sales@magicwrighter.com) are both ready to address any questions or concerns. When your institution is ready to upgrade, Magic-Wrighter Sales will introduce you to the SWIVEL team. 

19. How soon will we need to upgrade to SWIVEL? 

Magic-Wrighter and SWIVEL are implementing a phased approach that takes into account your current LoanPay Xpress features as well as your overall Magic-Wrighter relationship. Our goal is for this to be a comfortable and successful experience for you and your account holders. 

20. What if I’m ready to upgrade now, how do I sign up? 

If you are ready to upgrade now, reach out to Sales@magicwrighter.com and we will walk you through the next steps and introduce you to your SWIVEL team. 

21. Is SWIVEL Pay truly an upgrade from LoanPay Xpress? 

Yes! SWIVEL Pay offers enhanced user experiences, same-day credit, text messaging options, Apple Pay, and additional integration and SSO opportunities. While some LoanPay Xpress clients may need to transition away from features they were accustomed to offering, the overall transition is a significant upgrade. Furthermore, the AutoPilot® Portal includes notable improvements over the current LoanPay Xpress admin tools and reporting functions.