Case Study

Top-25 Bank Boosts Loan Portfolio Performance

Making Loan Payments Simple

One of the top 25 banks in the U.S. wanted to enhance its loan portfolio performance. The bank knew the key to increasing payments collected before the due date and from delinquent customers was to make it as easy as possible for customers to pay. In addition to increasing ease of use, the loan servicing team also wanted to reduce the time spent on managing payments.

The ACI Speedpay Solution Enables Easier Loan Payments

The bank selected ACI Speedpay for affordable debit card and ACH payment processing. While both ACH and debit card payments come out of customer checking accounts, the bank knows debit cards make payments much easier for customers and the bank staff. To increase customer convenience, the bank now offers many different payment channels. Customers can pay via debit card and ACH online for free, or through the IVR and call center for a small fee.

Bank Increases On-Time Loan Payments

By satisfying customer demand, the bank raised the performance of its loan portfolio. Customers also doubled the number of loan payments made with debit cards over the past two years, far outpacing the growth of ACH payments. Making it easy for customers to pay increased the delinquency cure rate by double digits while raising the percentage of on-time payments. The bank also drastically reduced staff time managing payment exceptions. Accepting payments online has further reduced the number of more expensive payments made via customer service representatives by one-third.