Sixteen Financial Institutions Select Biller Advantage from Fiserv
"North Shore Bank continually looks for ways to simplify banking for our customers and provide them with their preferred methods for making payments. Currently, many of our customers mail us a check to make their monthly loan payments. This is an inconvenient and inefficient process for our customers and for the bank," said Dean Trout, senior vice president and Chief Information Officer, North Shore Bank. "Biller Advantage will add flexibility to the loan payment process by allowing us to accept online and mobile payments from customers who have their primary banking account elsewhere."
Biller Advantage is a cost-effective, configurable and easily deployable solution that provides comprehensive EBPP capabilities for financial institutions to use in-house for their online loan payments and business customers. For example, the offering is used for financial institutions to streamline the process of customers paying auto or mortgage loans and enable faster payments.
In addition, financial institutions can use Biller Advantage to enable their business customers to present electronic bills (e-bills) to customers at the business's website or through the more than 4,000 financial institutions that are part of the eBill Distribution™ network from Fiserv. Electronic payments can be accepted through multiple channels including online, mobile, automated phone system (IVR) and customer-assisted phone system (CSR).
"Multichannel electronic billing and payment functionality, including mobile bill pay, is an essential offering for financial institutions' treasury strategy," said Michael Moeser, director of payments, Javelin. "By making it convenient for customers to view and pay their bills using the method they prefer, businesses, banks and credit unions can benefit from improved customer satisfaction and reduced reliance on paper checks."
"Consumers require financial services that fit seamlessly into the rhythm of their lives, providing money movement at the point of thought," said Rahul Gupta, group president, Billing and Payments Group, Fiserv. "Financial institutions that provide convenient billing and payment capabilities, which includes offering EBPP services to their business customers, will position themselves to meet today's customers' fast paced expectations."
In a world that is moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today - financial services at the speed of life. Learn more at TheSpeedofLife.com.
Fiserv, Inc. (NASDAQ: FISV) enables clients to achieve best-in-class results by driving quality and innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more than 30 years, Fiserv has been a leader in financial services technology, and today is among FORTUNE® magazine's World's Most Admired Companies and Forbes magazine's America's Best Employers. For more information, visit www.fiserv.com.