ENGLEWOOD, Colo.--(BUSINESS WIRE)--Speedpay, Inc., a Western Union subsidiary, announced it was selected as the electronic billing presentment and payments provider for OneUnited Bank, the nation’s largest Black-owned bank. As part of its agreement with Speedpay®, OneUnited Bank will now offer mortgage loan and secured credit card customers the ability to make electronic payments using Speedpay’s industry-leading platform.
“Our customers were seeking a more convenient way to make payments, so we explored alternative solutions. We wanted to work with a reliable company that is dedicated to information security and has a great reputation. We also wanted a company that would be able to provide additional online services,” said Teri Williams, President and Chief Operating Officer at OneUnited Bank. “Speedpay was able to meet our current needs as well as help us meet the ever-evolving needs of our customers.”
Before signing-on with Speedpay, OneUnited Bank processed mortgage loan and secured credit card customer payments by mail, or by setting up bill pay. As the first Black internet bank with offices in Los Angeles, Boston and Miami, OneUnited Bank financed more than $100 million in loans in the last two years, and Speedpay will help to make the payments experience seamless for OneUnited customers. With an uptime of 99.99%, Speedpay’s reliability and flexibility will help ensure OneUnited Bank’s customers are able to pay at their own convenience with a choice of payment options.
“We’re pleased to work with OneUnited Bank and help support the company’s mission by providing them with a seamless payments solution,” said Frank Lockridge, SVP, Global Payments and Head of Speedpay. “With nearly 30 years of industry experience, we understand the pain points of our clients, and through the implementation of Speedpay, we feel confident that OneUnited Bank will experience strong, measurable results as well as an improved customer experience.”
About Speedpay, Inc.
Speedpay, a Western Union subsidiary, provides electronic bill presentment and payment (EBPP) solutions that help keep your business running. An industry leader given its footprint, financial strength, service reliability and availability, Speedpay is dedicated to helping billers collect better payments. Our clients benefit from our highly consultative approach – ensuring we deliver customized payments offerings that address your business challenges and provide overall efficiency, ultimately saving you time and money. From web to mobile, eBill, IVR or CSR, Speedpay offers some of the most highly configurable channels available on the market, specifically designed for the way people want to pay bills.
A wholly owned subsidiary of E-Commerce Group Products, Inc., Speedpay has been at the forefront of the electronic payments industry since 1989 and was acquired by Western Union in 2002.
For more information, visit www.payments.westernunion.com.
About OneUnited Bank
OneUnited Bank is the premier bank for urban communities, the largest Black-owned bank, the first Black internet bank and a Community Development Financial Institution (CDFI). Its mission is to provide affordable financial services to support economic development in urban communities and maintain superior financial performance to maximize shareholder value. OneUnited is an FDIC insured bank and an equal housing lender.