FKNC Helps Automate Payments.(Fort Knox National Co., mortgages)(Brief Article)

With a couple of recent partnerships, Fort Knox National Co. hopes to deepen its penetration into the market for electronic mortgage payment services.

Most recently, the company announced a deal with Manage Your Mortgage, a provider of biweekly mortgage services. MYM will integrate its Web-based consumer technologies into FKNC's TruePay ACH technology.

That means Manage Your Mortgage is now able to offer end-to-end automation of its biweekly payment services. Through the MYM website, consumers can enroll in the program online, track their payment histories, manage their accounts, and receive automatic e-mail notifications when their debits and payments are made.

The site uses digital signature technology to satisfy the "similarly authenticated" enrollment requirements mandated by federal regulation. That allows consumers to enroll in recurring ACH online payment programs without the hassle of paper-based authorization to debit forms, FKNC said.

MYM said its efficiency has allowed it to eliminate the upfront enrollment fees that hamper consumer adoption of other mortgage payment services.

"We're the first to market with a 100% online biweekly payment system," said Manage Your Mortgage president and CEO Grant Szalay. "We're giving customers real-time enrollment and management of their accounts 24 hours a day, seven days a week. Fort Knox National Co. has helped us maintain our paperless model with their powerful TruePay ACH system."

Joshua Hartlage, vice president of sales and marketing at FKNC, said the biweekly option has a great deal of potential.