Credit Union Loan Source Selects ACI Speedpay to Drive Digital Bill Payments for Customers; ACI Mobile Wallet Payments Adoption Grows 30 Percent
ACI Worldwide (NASDAQ: ACIW) announced that Credit Union Loan Source (CULS) will enhance its digital payments through ACI Speedpay. CULS experienced an 89% increase in interactive voice response payments and a 30% growth in mobile wallet usage since adopting ACI's solutions. The implementation streamlined bill payments, leading to a 15% drop in call center volume. CULS's mobile wallet feature also increased paperless adoption rates from 2% to 18%, contributing to cost savings and improved consumer satisfaction.
- 89% increase in IVR payments adoption.
- 30% growth in mobile wallet usage.
- 15% reduction in call center volume.
- Paperless adoption rates increased from 2% to 18%.
- None.
NAPLES, Fla.--(BUSINESS WIRE)--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.
About ACI Worldwide
ACI Worldwide powers digital payments for more than 6,000 organizations around the world. More than 1,000 of the largest financial institutions and intermediaries, as well as thousands of global merchants, rely on ACI to execute
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ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties’ trademarks referenced are the property of their respective owners.
