SAFCo Selects ACI Worldwide for Electronic Bill Payment Solutions
Leading auto finance company partners with ACI to increase consumer convenience in bill payment while decreasing processing costs
NAPLES, Fla.--(BUSINESS WIRE)--ACI Worldwide (NASDAQ: ACIW), a leading international provider of electronic payment and banking solutions, announced today that Southern Auto Finance Company (SAFCo) has selected its UP Bill Payment Solution to increase consumer convenience and reduce payment processing costs. SAFCo customers will be able to pay their loans electronically on a mobile device, computer or via phone with a debit card or ACH (Automated Clearing House). They will also have the option to sign up for an ongoing electronic bill payment relationship or to make their loan payment quickly with no sign-up required.
“SAFCo recognizes the importance of catering to the wide range of consumer preferences in order to win and retain business”
Recently named to SubPrime Auto Finance News’ list of Top 100 sub-prime auto lending, recovery and financial service providers, SAFCo is a leading automotive financing company that operates in 14 states. As the company expands its national reach, it is constantly working to improve processes and offer innovative solutions, including bill pay advancement. After conducting a broad vendor evaluation, SAFCo chose ACI’s comprehensive and integrated electronic bill payment solution.
“As a finance company, payments are our lifeblood,” said Gary Stein, Chief Financial Officer, SAFCo. “ACI’s electronic bill payment technology gives us a competitive advantage by providing our customers the easiest and most flexible ways to make their loan payments, resulting in both operational efficiencies and significant cost savings for SAFCo and our customers.”
“As big banks and regional auto-lenders compete for market share, providing convenient bill payment options can increase customer satisfaction, loyalty and future purchase intent,” said Richard Crone, CEO, Crone Consulting LLC. “We see increasing demand from consumers to pay from mobile devices and with debit cards. Today’s lenders must not only offer these options, but also the ability for consumers to pay quickly without having to sign up for online banking. Many banks have more than 50 percent of their loans with customers who do not have a checking account at their respective banks, yet banks do not offer electronic payment options for this customer segment.”
“SAFCo recognizes the importance of catering to the wide range of consumer preferences in order to win and retain business,” said Scott Fitzgerald, vice president and product line manager, ACI Worldwide. “We’re seeing forward-thinking consumer finance organizations expand their flexible bill payment options to include mobile and debit cards. These capabilities provide consumers fast and convenient payment options that make it easier to do business with loan providers.”
About ACI Worldwide
ACI Worldwide, Inc., the Universal Payments company, powers electronic payments and banking for more than 5,000 financial institutions, retailers, billers and processors around the world. ACI software processes $13 trillion each day in payments and securities transactions for more than 250 of the leading global retailers, and 21 of the world’s 25 largest banks. Through our comprehensive suite of software products and hosted services, we deliver a broad range of solutions for payment processing; card and merchant management; online banking; mobile, branch and voice banking; fraud detection; trade finance; and electronic bill presentment and payment. To learn more about ACI, please visit www.aciworldwide.com. You can also find us on Twitter @ACI_Worldwide.
© Copyright ACI Worldwide, Inc. 2014.
ACI, ACI Payment Systems, the ACI logo and all ACI product names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties’ trademarks referenced are the property of their respective owners.
Product roadmaps are for informational purposes only and may not be incorporated into a contract or agreement. The development release and timing of future product releases remains at ACI’s sole discretion. ACI is providing the following information in accordance with ACI's standard product communication policies. Any resulting features, functionality, and enhancements or timing of release of such features, functionality, and enhancements are at the sole discretion of ACI and may be modified without notice. All product roadmap or other similar information does not represent a commitment to deliver any material, code, or functionality, and should not be relied upon in making a purchasing decision.