02/19/2020: Payments Requested through the IVR, Online or with a Rep on February 15th – 17th – Processing Delay and Resolution

Situational Analysis:

Approximately 632 customer payments processed through the IVR, on the web or mobile app, or with a Customer Experience Specialist on February 15, 16 and 17, 2020 did not properly complete the processing cycle through the Ventanex system.  While the accounts are noted that a payment processed, due to a system issue the transactions did not complete and post correctly to the loans.  

The system issues have been identified and resolved.  All payment requests made from the 15th through the 17th were correctly processed at end of business on Tuesday, February 18, 2020, and these payments will be effective dated to Monday, February 17, 2020.

Some of these loans were erroneously assessed a late fee for the February 2020 payment.  Please do not waive these fees as a transaction will be processed to waive the erroneously assessed late fees at end of business Wednesday, February 19, 2020.

Billing statements generated with late fees assessed in error have been suppressed and will not be mailed to the impacted customers.  Once all correction transactions are complete, new and correct billing statements will be generated and mailed to this population of customers.

Talking Points:

Should customers call regarding this issue, review the system notes and transaction records in MSP and Ventanex.  If a transaction record exists for the period between the 15th and the 17th of February, advise the following:

  • Please apologize for any inconvenience or frustration this may have caused
  • Our records indicate a request to process a one-time payment was received
  • Due to a system issue the transaction did not complete the processing cycle in the timeframe customers requested
  • Fairway submitted the funds request to the customers’ financial institution at end of business Tuesday, February 18, 2020, and payments will be effective dated to Monday, February 17, 2020
  • If a late fee was assessed to customers’ loans in error it will be waived, and customers will receive an accurate billing statement once all transaction posting is complete

Please see your Manager or Lead if you have any questions