Traditionally, borrowers navigating home equity loans might wait up to 45 days to receive their money due to outdated banking systems and manual processes. NFTYDoor redefined this expectation by making real-time payouts the default experience for its customers.

For example, under traditional practices, a borrower whose three-day right of rescission expired at midnight on a Friday wouldn’t see funds deposited until Monday morning. But with Modern Treasury’s software, NFTYDoor can seamlessly leverage real-time payments (RTP) to disburse funds on Saturday morning, ensuring borrowers experience minimal delays and maximum satisfaction.

Unlike conventional lenders who rely on manual processes, NFTYDoor has fully automated payment operations, allowing the digital lender to transmit funds directly to its borrowers with limited manual oversight. The innovative approach not only expedites the lending process, but it also sets a new benchmark for efficiency and customer experience in the industry.

Spinetto explained why payments infrastructure is mission-critical to their objective: “We have to support a multi-rail experience for our borrowers at scale, whether that be ACH, wire, check, or RTP. Modern Treasury allows us to code once and send a payment many ways. So if the borrower’s bank doesn’t support RTP, we automatically default to ACH. All of this happens without a human in loop.”

Considering the tens of thousands of loans per year that must be orchestrated digitally, NFTYDoor needed reliable payments infrastructure. However, the company wanted to invest its resources into building proprietary technology and products, not managing payment APIs.

Spinetto explained, “Our system is proprietary. We have a development team, but our development team is dollar focused on building our platform, which is hyper-critical for a user experience. We don't want to have to spend our time managing a payment API infrastructure. It's easy to talk about the concept of, ‘I'm gonna send you one dollar.’ But what happens if it doesn't work? The way that we look at what we wanted in a partner, we needed somebody that had that holistic vision of that payment life cycle.”

There’s more to lending than just sending money.

As soon as borrowers receive their funds through NFTYDoor, they begin accruing interest. Payment delays could mean that borrowers are charged interest before they get their money, which compromises their experience. “We have to get confirmation that the money was sent [correctly to] the borrower and bring that into our system to start the invoicing,” Spinetto explained. “What we do is we give the borrower that same transparency [that NFTYDoor] has. In their portal, they see the payments that are relevant to them, and we show them the check number. We show them the address the check was sent to, and they can watch it in real-time.”

He went on to explain that this transparency allows customers to answer key questions like ‘Was the check sent out?’ ‘Was it completed?’ ‘Was it cashed?’. The entire process is fully automated as well, saving NFTYDoor thousands in production costs without sacrificing the customer experience.

To transform the borrower experience with speed and transparency, NFTYDoor needed a partner to abstract away the complexity of payments infrastructure and provide a holistic vision for payment operations. They needed access to multiple bank integrations, instant payment rails, and real-time visibility to distribute large sums with precision.

To deliver speed and convenience, NFTYDoor partnered with Modern Treasury, a leader in payment operations, to fund loans instantly with real-time payment (RTP) rails.

“The ability to send RTP is critical to our value proposition,” notes Spinetto. “We're sending out millions of dollars to our borrowers. Saturday morning, borrowers are still in their PJs drinking their coffee, and they have the money in their account before they're even fully awake."

Working with Modern Treasury aligned perfectly with NFTYDoor’s vision to reimagine lending with automation, turning a lengthy, manual process into an industry-leading experience, where borrowers get instant access to funds, 24/7 — even on weekends and holidays.

Spinetto describes the impact of instant payment rails on their customers, “RTP is the default experience because it's cost effective, super fast, and just mind blowing to a borrower — they’re amazed to see the funds in their account as soon as they refresh their app.”

In addition to funding loans instantly, partnering with Modern Treasury allows NFTYDoor to innovate new products that give customers real-time visibility into their money. By leveraging Modern Treasury’s payment infrastructure and ledgers, NFTYDoor has built solutions like debt consolidation, offering borrowers a transparent way to manage and simplify their financial obligations.

“It could be any type of debt that shows up on your credit report," Spinetto explained. “[NFTYDoor] will say: ‘Here are all your trade lines.’ Then, a borrower can say, ‘I want to pay down or pay off all of these.’ We are issuing payments to those lenders through Modern Treasury when those funds are disbursed.”

With NFTYDoor’s debt consolidation, borrowers can combine multiple debts into a single loan and automate payments to each lender through preferred payment rails, such as ACH, wire, or RTP. Modern Treasury’s ledgers are vital in providing real-time tracking for every transaction and balance. Not only does this allow NFTYDoor to ensure borrowers receive their expected funds, but this also enables borrowers to monitor their paydowns from end to end. This level of transparency fosters trust and gives borrowers peace of mind that their obligations are being met accurately and on time.

“It's [about] making sure that we [deliver] both speed and transparency to the borrower. The ledgering gives us confidence that we’re tracking balances accurately,” Spinetto says. “It makes sure that if we’re lending $100,000, we’re actually disbursing $100,000. Modern Treasury ledgers ensure we have a complete picture of all the money flowing in and out, so we know exactly where every dollar is and that nothing is missing or mismatched.”

Beyond transforming the borrower experience, partnering with Modern Treasury has helped NFTYDoor scale their payment operations.

“Modern Treasury has given us greater capital efficiency, meaning we don't have to hire a bunch of people to process all of this because it is processed and reconciled through technology,” according to Spinetto. “Not having to focus on the maintenance of [our product] allows us to focus on new features and functionalities that give us the ability to delight and surprise.”

Automating workflows to track and disburse multiple payouts with precision — whether to borrowers, lenders, or vendors — minimizes costs so that NFTYDoor can deploy resources strategically toward customer experiences and product innovation.

For borrowers, this means fast access to funds and an intuitive, transparent process for efficiently paying off their loans. The dual focus on speed and transparency exemplifies how NFTYDoor sets a new standard in home equity lending, powered by Modern Treasury’s robust payment operations platform.

By partnering with Modern Treasury, NFTYDoor has reimagined home equity lending with a better borrower experience and greater capital efficiencies. NFTYDoor is focused on growing its business; scaling its technology to handle increasing transaction volumes; and driving continued product innovation.

To expand its offerings, the digital lender is already working toward white-labeling its platform, allowing more lenders to provide instant access to loans using NFTYDoor technology. This move will set a new standard for borrower experiences across the industry, helping to redefine the future of lending with faster, more transparent solutions for borrowers everywhere.

Spinetto anticipates even more opportunities ahead, “We’re continuing to set records as our volume increases, and we’re doing some very innovative things where we’re working with partners to white label our tech to increase that lending volume and power. I’m excited for the day where we’re moving billions through [our platform] and borrowers are going to their lenders and asking ‘Why can’t you send right away like NFTYDoor?’”