Credit Union Loan Source Selects ACI Speedpay to Drive Digital Bill Payments for Customers; ACI Mobile Wallet Payments Adoption Grows 30 Percent
December 01, 2020 at 08:00 AM EST
ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions, today announced Credit Union Loan Source (CULS) will drive a rich digital payments experience for consumers through ACI Speedpay. With the ACI solution, the company has seen an 89 percent increase in the adoption of interactive voice response (IVR) payments, and ACI’s mobile wallet feature has achieved 30 percent growth since launch.
Located in Alpharetta, Georgia, CULS is an indirect auto finance company with a dealer network spanning 14 states. Due to rapid portfolio growth, CULS looked to modernize its digital presence with a centralized way for customers to make payments and provide a unified experience across channels. With ACI Speedpay, CULS’s customers now have a single online portal to manage and pay their bills. In addition, as more consumers have come to expect mobile payment options for bills, ACI’s mobile wallet feature has provided a convenient choice for mobile billing and payment, including alerts and confirmations and the ability to display e-statements.
“By streamlining bill payments for our customers, we saw call center call volume drop by 15 percent almost immediately. With ACI Speedpay, our customers can make multiple payments, store payment information, see payment history and check balance and payoff information, all from a single portal,” said RuthAnn Riggs, Chief Operating Officer, Credit Union Loan Source. “The mobile wallet feature has also been advantageous for customers who prefer to pay bills through their smartphone, and the e-statements have resulted in significant cost savings – we’ve seen paperless adoption rates go from 2 percent to 18 percent, and this continues to climb month over month.”
“Consumers are spending more time than ever on their mobile devices, and meeting them where they are — on mobile — is crucial for businesses,” said Sanjay Gupta, executive vice president, ACI Worldwide. “With ACI Speedpay’s mobile wallet option, CULS is benefiting from faster payments as well as increased engagement with customers. In addition, ACI Speedpay is helping take the pressure off the company’s call center by reducing inbound call volume amid the pandemic.”
ACI Speedpay is an integrated suite of bill presentment and payment services that empowers the success of thousands of clients. The solution is proven to raise consumer satisfaction by 25 percent by offering easy ways to view and pay bills. The solution’s mobile wallet billing and payment capability improves consumer experience while reducing costs.
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