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The Green Sheet Online Edition

December 12, 2022 • Issue 22:12:01

New Products

Wow clients with automated, self-service lending

Product: ACI Speedpay
Company: ACI Worldwide

ACI Worldwide, a global provider of real-time payments software, enriched the customer experience of its ACI Speedpay platform through a partnership with Constant, a fintech specializing in self-service lending software, the companies stated.

Darcy Locke, head of consumer finance of the biller segment at ACI Worldwide, pointed out that ACI and Constant are focused on the needs of modern consumers and lenders.

"Keeping up with consumer expectations requires a more proactive focus, which is why Constant and ACI Worldwide held a tech summit with the leaders of top lending institutions to discuss how we can help them close the customer experience gaps today and tomorrow," she said.

Catherine York Powers, chief executive officer at Constant, concurred, stating the partnership will help lenders meet a growing number of customer preferences.

"Many institutions are under pressure to expand their digital presence, respond to borrowers faster and generate revenue from existing customers," she said. "However, many of them still rely on legacy systems that limit automation, self-service and access to the payment methods and processing speeds that customers are demanding today."

Comprehensive product suite

ACI and Constant representatives stated that ACI Speedpay bill payment capabilities, combined with Constant's enhanced user experience, gives lenders the confidence to automate loan servicing tasks that were formerly handled manually. Expanded service options provide access to all types of payment methods, including debit, prepaid, credit, contact and contactless EMV, and digital wallets.

Sanjay Gupta, executive vice president and head of the biller segment at ACI Worldwide, described ACI Speedpay as an industry-leading, comprehensive suite of bill pay solutions that serves more than 4,000 billers in the United States within six industries: consumer finance, government, higher education, insurance, utilities, and telecommunications and cable.

"ACI Speedpay is our bedrock to serve our 4,000+ biller clients in the United States," he said. "No other solution is trusted by more billers and enables more channels for billing, payment and communications than ACI Speedpay. This is a fully platform-based solution and leverages the modern containerized and API-based solutions."

Single, integrated bill pay platform

Gupta also noted the ACI Speedpay suite of solutions eliminates the fragmentation of electronic bill payment and bill presentment by offering a single, integrated platform that powers the entire bill payments operation.

"ACI Speedway enables companies to streamline the complexities of bill presentments and the payments process to improve results, all while eliminating application silos," he said. "The platform also drives digital engagement by integrating billing and payment with the client customer's native digital wallets; has been shown to reduce over 18 percent of compliance costs with secure payment processing and compliance burdens by addressing all major compliance standards, including PCI, CFPB and HIPAA; and lower charge-offs by over 10 percent by enabling consistent, efficient and effective online debt collection." 

In addition to offering online, mobile, phone, API, mail and in-person options, ACI Speedpay accepts ACH, debit, credit cards, cash, and check payments, Gupta noted, as well as alternative payments such as PayPal, Apple Pay and Google Pay. The platform also provides integrated notifications, eBill presentment and processing and payments and communication within the platform. Additional capabilities include integrated treasury management, digital disbursement services and free customer marketing consultation and resources, he added.  

Sales channel partner benefits 

Gupta pointed out that ACI Speedpay has been proven beneficial to ISOs, merchant acquirers, merchant level salespeople and other sales channel partners due to its ability to raise consumer satisfaction, increase collections, lower costs and reduce the amount of staff time spent on payments. In addition, he noted, the platform is highly configurable and integrates easily with hundreds of other systems and platforms.  

"Partnering with ACI ensures that companies can offer the widest selection of payment options with a strong user experience that customers expect, with speed and security," he said. end of article

Website: www.aciworldwide.com Contact: billpay@aciworldwide.com

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