Allied Bill Payment
Allied Payment Network
Allied Bill Payments creates a new avenue for community Financial Institutions to fend off disintermediation by centralized services (like Billers Direct), optimize consumer experience to use their available funds in real time, and maximize Financial Institutions’ informed marketing opportunities.
Consumers want to pay bills in the simplest and fastest way possible and consider that all payments should be instant. However, due to the poor experience within current bill payment offerings, they are often choosing to go to multiple places to gather bill payment information and ensure that payments are made on time to avoid late fees or loss of service (e.g., Vendor website, Institution website, Payment app, etc.). Research shows that over the past three years, 70% of bills are paid through Biller Direct and nearly 20% of users have moved from bank directed payments to paying bills directly with their provider.
Effective Payment Speed
Current ACH based payment mechanisms take 2+ days to reach a payee, and some payments still go by paper check, requiring 5 days. Allied Bill Payment quickly delivers instant payment capabilities leveraging end-to-end real-time infrastructure, reducing the lag on the payment flow.
User Experience to fend off intermediation
Bank Directed payments have an advantage as they are currently holding the funds that can be used for payments, but user experience is neglected with most providers. Allied Bill Payments provides real-time payment capabilities, allowing for last minute bills to be paid and makes you client want to stay.
Effective Data and Analysis
By keeping the consumers in the Financial Institution’s website/app, Allied Bill Payments gives a quick access to payment data and allows the institution to get up-to-date information to leverage in additional marketing campaign and potential revenue.
General information
How it works
An integrated solution
Consumer logs onto the Fusion Digital Banking application, the application retrieves the eligible accounts of the consumer.A user-friendly interface
The consumer selects bills and creates a payment for today or schedules it for the future.Keep track of the records
Allied Bill Payments checks accounts balance, then transfer the funds from the consumer account to a General Ledger account within the financial institution.An efficient process
Then, the money is transferred to the designated payee and the consumer gets a payment completed notification.
How it looks
A user-friendly interface
Check the list of your payees and the billing history for each of them. Show lessQuick access to a large list of billers
Browse the extended catalog of potential payees and add them in your list. Show lessKeep an eye on your finance
The notification feature provides an overview of all payees, past and future payments. Show less
