ACHWorks and Onyx IQ Collaboration Kicks Off New Partnership with Simply Funding to Scale its MCA Services Operations

LOS ANGELES (June 15, 2023) – ACHWorks, a leading provider of Automated Clearing House (ACH) payment processing solutions for the commercial funding space, has announced its collaboration with funding management solution provider Onyx IQ, led to a new strategic partnership to empower Simply Funding’s Merchant Cash Advance (MCA) services operations. This long-time collaboration between ACHWorks and Onyx IQ combines their respective expertise and advanced technologies to offer a comprehensive suite of services tailored specifically to the MCA industry.

ACHWorks’ robust ACH payment processing infrastructure, combined with Onyx IQ’s innovative funding management platform, will enable Simply Funding to optimize its operations and meet the evolving needs of its clients.

“The Onyx software with ACHWorks plugged into it provides the whole package and gives us the tools we need to run a successful business,” says Jacob Kleinberger, Head of Operations at Simply Funding. “The fact that Onyx was already strategically aligned with a reputable processor like ACHWorks made this an easy decision.”

The proven track record of the powerhouse collaboration between ACHWorks and Onyx IQ makes them an ideal partner for Simply Funding. The secure ACH processing coupled with efficient software will ensure seamless and reliable transactions, facilitating the smooth flow of funds between Simply Funding and its customers. With these advanced capabilities, Simply Funding will have the ability to handle a high volume of payments, automate recurring transactions and streamline the cash flow management process.

“We are thrilled to have a partner like Onyx IQ that further strengthen our offerings to the MCA industry,” said Ryan McCurry, President of VCI, the parent company of ACHWorks. “This collaboration with Onyx IQ allows us to provide a comprehensive solution that addresses the unique challenges faced by MCA providers. By combining our payment processing expertise into this powerhouse software solution, we are confident that Simply Funding will be able to scale their operations and better serve their clients.”

ACHWorks’ expertise in payments solutions for the MCA industry complements Onyx IQ’s capabilities well. Through their cutting-edge platform, Onyx IQ will empower Simply Funding to efficiently manage and monitor funding activities, streamline underwriting processes, and gain valuable insights into their operations. The collaboration will enable Simply Funding to enhance its overall efficiency, improve decision-making, and deliver exceptional service to their clients.

Andrew Dudley, Head of Engineering at Onyx IQ, expressed enthusiasm about the partnership stating, “Partnering with ACHWorks was a significant step forward in our mission to revolutionize funding management in the MCA industry. We integrated our innovative platform with ACHWorks’ secure payment processing infrastructure early on because they have been a proven payment processor for more than 30 years and are true industry experts that can help any company optimize their funding operations and drive business growth.”

The partnership between ACHWorks and Onyx IQ underscores their commitment to driving innovation within the MCA industry. New funders who use their platforms can start funding in as little as 2-4 weeks, wiring funds, processing ACH payments, debiting syndicators and paying ISO commissions on the rails that already exist between the two platforms. When ACHWorks and Onyx IQ combined forces, they committed to providing businesses with seamless funding solutions and exceptional service, helping them thrive in today’s competitive market.

“ACHWorks has always worked hard to offer to businesses superior service and maximum benefit. We see this collaboration as providing exactly that for the Merchant Cash Advance Industry,” said Dave Kirk, National Sales Manager at ACHWorks.

About ACHWorks

ACHWorks is a leading provider of secure and efficient Automated Clearing House (ACH) payment processing solutions. Powered by VCI (VeriCheck), a trusted name in payment processing technology, ACHWorks delivers cutting-edge ACH solutions that streamline transactions and optimize cash flow management for commercial funding businesses. ACHWorks is a bank owned and sponsored by Commercial Bank of California, a strong and stable financial institution known for its commitment to innovation and customer-centric services. This ownership affiliation empowers ACHWorks with a strong foundation of financial expertise, robust infrastructure, and a deep understanding of the evolving needs of businesses across various industries. This strategic partnership enables ACHWorks to provide exceptional payment processing solutions, unparalleled security, unlimited scalability and reliable customer support, ensuring that businesses can transact with confidence and efficiency. ACHWorks is not only the most customizable solution, but now the strongest and most stable partner.

 

About Onyx IQ

Onyx IQ offers cloud-based lending solutions designed to help automate decisions and fund more deals – faster. Customers benefit from highly customizable workflow, configurable decision engine, internal/external collaboration and robust reporting – all in one integrated view. The platform was created in 2017 by Jay Keller, CEO of Wall Street Funding. Jay has been deeply immersed in the Alternative Lending Industry with focus on the MCA / B2B space since 2006 and offers a wealth of leadership expertise. With a talent strategy focused on hiring industry professionals and aggressive product roadmaps, it is Onyx IQ’s mission to serve as the best funding management software available. The company is headquartered in New York City and services funders across the United States. For more information email info@onyxiq.com.

About Simply Funding

Simply Funding has been providing fast working capital to its customers since 2015. With same day approvals and a Merchant Cash Advance of up to $500,000 Simply is here to help you grow your business to the next level without the delays and strict approval process of a traditional bank. Visit us at www.SimplyFunding.com to learn more about our Advance Programs or to become a Broker.