Auto Lender Wins Over Customers with Debit Card Payments
As drivers embrace the thrill of the open road, they increasingly demand that same freedom with their auto loan payments. A bank with $1 billion in assets answered its customers’ call with ACI Speedpay solutions and collected more payments while saving staff time.
This bank is known for delivering a satisfying loan servicing experience to its auto finance customers. Those customers increasingly desired easier ways to make payments, while the bank wanted additional payment options to enhance profitability.
Fourteen years ago and with no fees to the bank, ACI began providing a debit card and ACH payment processing solution to satisfy the bank’s customers.
The bank improved its customer experience, collected more payments and reduced payment errors by enabling payments through mobile, web, IVR and call center on a single platform. Over the past five years, the debit card payments option won over customers, growing at a 37% CAGR compared to zero growth for ACH payments.