Most MCA funders still service deals across a patchwork: one system for underwriting, another for ACH and servicing, and a spreadsheet for syndication. But every handoff creates extra manual work when the team has to re-key the deal, check that balances match, and make sure nothing is missed. The problem is most evident at month-end, when the team is pulling numbers from three places just to reconcile the book.
That costs time and money. And when something slips, the cost can be real: a failed pull that isn't caught quickly gets harder to recover, while a syndication sheet that drifts can lead to wrong payouts and frustrated capital partners.
Onyx IQ runs the entire advance on one platform, from origination and underwriting through servicing, collections, syndication, and payoff. The deal you approve is the same deal you fund, service, renew, and syndicate. Nothing gets re-keyed into a separate servicing system or tracked in a side spreadsheet, because the deal never leaves the platform.
Because the deal never leaves the platform, ACH activity, remaining RTR, failed pulls, and syndicator positions all update on the same record as they happen. Your team isn't matching a processor portal to a servicing system to a syndication sheet at month-end, the record already agrees with itself.
This post covers the servicing stretch of that lifecycle: how Onyx IQ handles the advance from the first ACH pull through final payoff.
Onyx IQ keeps the advance on one deal record from funding through payoff. That record holds:
The deal's status and sub-status move with it, so your team can open the record and immediately see whether it's healthy, has payment issues, is in default, or needs attention.
When a payment posts, the plan changes, or the merchant renews, that update happens on the same record. Your team doesn't have to keep a servicing system, processor portal, and syndication spreadsheet lined up by hand.
That cuts out a lot of reconciliation. Instead of spending month-end figuring out which system has the right number, your team is working from one live record throughout the life of the deal.
At volume, manually starting ACH pulls every morning becomes its own job. With Onyx IQ, the payment plan activates when the deal funds and starts running on schedule.
You set the remittance amount and frequency when you fund, whether that's daily, weekly, bi-weekly, or monthly, and the plan runs from there. It accounts for bank holidays and non-business days so pulls don't go out when banks are closed.
If something changes, you can pause the plan, change the remittance amount, move a debit date, switch the merchant's bank account, or run a second payment plan from the same deal record. The change is logged there too, so your team sees the same servicing history.
That matters because missed pulls add up quickly. If your team forgets to start a plan or catches it late, you've lost a day of collections on that position.
Automatic activation removes that manual step, so you can add more active deals without adding an ops person just to run ACH every morning.
Your book runs on ACH, so your team shouldn't have to leave the servicing platform to manage it.
In Onyx IQ, you submit pulls, see what cleared, and work failed payments from the same place. Cleared, failed, and pending transactions post back to the deal automatically, so your team isn't matching processor activity to servicing records by hand.
Onyx also helps get your ACH processors set up during onboarding and keeps a backup processor in place. If one processor goes down or starts throttling volume, pulls can keep moving through the other.
That matters on a large daily book. One stalled day can push back a meaningful amount of collections, and on weaker accounts, some of that money may never come back.
Keeping ACH inside the platform, with a fallback ready, cuts out both the processor risk and the manual work of bridging a separate portal back to your book.
Once ACH is running inside the platform, the next priority is catching misses fast.
When a debit fails or comes back NSF, Onyx IQ automatically moves the deal into a Payment Issues queue, updates the sub-status, and sends the merchant an email and text using templates you control.
Your collectors can then work the account from one place. They can log call notes, pull a balance summary, pause or adjust the payment plan, add a make-up payment, and move the deal back to healthy once the merchant catches up.
On missed payments
Speed matters here. The longer a missed remittance sits, the harder it gets to recover and the closer the position moves toward default.
If your team only finds failed pulls during reconciliation a few days later, those days are already working against you. Catching the miss the same day gives your collectors a better shot at curing the account before it turns into a legal or collections problem, where recovery gets slower and more expensive.
When soft collections stop working, the next step usually means pulling together a file by hand and sending it to an agency or law firm.
In Onyx IQ, that handoff happens from the deal. Move the position into default and route it to your collection agency. If it needs to go legal, one click packages the signed contracts, credit report, bank statements, payment history, and collection notes into one secure link.
You add your agencies and law firms during onboarding, so your team doesn't have to rebuild the package every time a deal escalates.
That saves time, but it also gives the firm a stronger file from the start. The faster they get the full deal history, the faster they can start working recovery on money that's already at risk.
If you syndicate deals, keeping partner positions in a separate spreadsheet creates another record your team has to keep in sync with servicing.
Onyx IQ keeps syndication on the deal itself. Active RTR and syndicated RTR update as remittances come in, and each payment is split automatically based on every syndicator's participation.
Each capital partner also gets their own wallet, ledger, and login. They can see their active and defaulted positions, wallet balance, and the reports you choose to share.
You control the payout schedule too, whether that's daily, weekly, bi-weekly, monthly, or held in the wallet net of your management fee. And payouts only happen after the merchant remittance actually clears.
That removes a lot of manual work from your team: no splitting remittances by hand, no rebuilding partner statements, and no separate spreadsheet drifting away from the servicing record.
More importantly, your syndicators get cleaner visibility into their positions and payouts. When the numbers stay accurate and easy to see, your capital partners spend less time asking for statements and more time funding deals.
Payoffs and renewals are two places where speed matters. If a merchant is ready to refinance, a slow payoff or a messy renewal can cost you the deal.
In Onyx IQ, both happen from the live deal record.
Payoff letters generate with your branding, update from the current balance, and lock once they're issued so the number can't be changed afterward.
Renewals also start from the existing position. The platform uses the live balance, carries the merchant's deal history forward, and recalculates the new terms without making your team rebuild the file from scratch. If you need a balance with or without fees, it's available directly on the deal.
That makes it easier to move quickly when a merchant is ready to renew. And in MCA, where repeat funding can make up a meaningful share of revenue, faster payoffs and cleaner renewals can mean keeping the merchant instead of losing them to another funder who got there first.
Automating servicing doesn't mean giving up control. In Onyx IQ, the routine work runs automatically while the activity stays visible.
Underwriting, collections, operations, and accounting each get role-based access, so every team sees what it needs without getting into parts of the system it shouldn't touch.
Every ACH payment, failed pull, plan change, renewal, merchant contact, and status change stays logged on the deal. Your portfolio reports, collection curves, static pools, and month-end reporting all come from those same servicing records.
That matters when an auditor, a syndicator, or a compliance officer asks you to show your work. Instead of pulling payment history from one system, collection notes from another, and balances from a spreadsheet, your team can open the deal and see the full history.
It also means your reporting stays closer to what's actually happening in the book. Your team can make decisions from current servicing data instead of reconciling last week's numbers first.
If your servicing still runs across spreadsheets, processor portals, and a loan system that was never built for advances, the easiest way to see the difference is with your own deals.
Bring a few into a demo and watch the full lifecycle run on one record, from funding and daily ACH through failed-payment recovery, syndication, renewal, and payoff.
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Run your servicing on one record
Bring a few of your own deals and see how Onyx IQ handles funding, ACH, failed payments, syndication, renewals, and payoff without moving the deal between systems.
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