Mon, Dec 23 2024
Leading global provider of payments and financial technology Fiserv, Inc. (NYSE: FI) is giving billers integrated communication tools to improve customer satisfaction and accelerate on-time payments while optimizing internal processes.
In order to send customized bill payment reminders or messages via email, SMS (text message), outbound phone calls, or interactive voice response systems, billers will be able to integrate call-to-action notifications and alerts into their current workflows thanks to the new capabilities. Through the integration of Tilli, a multi-channel communication platform provider that enables customers and organizations to interact effectively throughout the customer journey, and BillMatrix® from Fiserv, a single solution for billing and payments that allows billers to provide choice and convenience while reducing costs and minimizing operational complexities, these notifications and alerts are enabled.
According to Jackson McIntosh, Head of Biller Solutions at Fiserv, "Billers are looking for efficient ways to engage their customers to encourage on-time payments, drive eBill adoption and digital payment usage, and provide proactive communications like reminders and service updates." "Call-to-action notifications and alerts, which are easily integrated with our clients' ERP systems, enhance our proven billing and payment capabilities with modern, cost-effective, and intuitive communications."
Customers are requesting more and more pertinent notifications to assist them in managing their finances. In Q32023, a Datos Insights survey of American cell phone owners who pay their bills revealed that 68% of those who occasionally make late bill payments out of forgetfulness would have considered an SMS reminder to be either extremely beneficial or very valuable. In addition, the same survey discovered that most American cell phone owners who got a reminder to pay bills—like mortgages, utilities, auto loans, cable bills, cell phone bills, medical bills, or large credit card bills—used the links in the reminder texts to complete the payment.
Fiserv and Tilli provided Washington Gas, a natural gas utility company that serves Washington, D.C., and the surrounding area, with an all-in-one platform that made bill presentation, payment processing, and customer engagement simple. Since implementing notifications and alerts, Washington Gas has witnessed a 140% rise in eBill enrollments and a 20% increase in digital payments.
"Today's customers need simple, customized experiences across several platforms. Acknowledging this, companies are improving their capacity to interact with clients on any platform and at any location, minimizing system or business interruptions. According to Tilli's founder and CEO, Ali Saberi, "Our platform, Nudge, delivers precisely this powerful and personalized communication that integrates seamlessly with the most popular ERPs, CRMs, and other systems of record." "Through our collaboration with Fiserv, a trusted partner for many billers, we are poised to further enhance customer experiences and significantly improve return rates."
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