October 10, 2022
What we have seen happen is many credit unions struggle to offer more services to their members outside of borrowing money. Credit unions need a product that would increase checking accounts and encourage members to make credit unions their primary financial institution. One product is Bill payment capability, which has become a standard anymore. Many credit unions offer some system that enables bill payment for their members, but they are not always the best or user-friendly.
Luckily, Sharetec has a solution for bill payment capability, and that is through Allied Payment’s PicturePay® and P2P digital payment solutions. Not only are Allied’s solutions easy to use, but they are also secure. Credit union members love the ease of using Allied Payment Network for bill pay and person-to-person transactions. The adaptability to mobile offers them access anytime and anywhere with an internet connection. This capability puts credit unions in a great position to be the full-service financial provider many members need.
One credit union that took advantage of this capability was Members First Credit Union out of Madison, WI. Jenny Kutz, VP of Operations for Members First CU, comments, “After seeing Allied Payment Network at Sharetec’s Users Conference, we knew we wanted to utilize its technology for our many members whose primary relationship with the credit union is auto and HELOC loans. We thought PicturePay® would be a great way to help push checking accounts to these individuals.” Jenny continues, “Implementing both of Allied’s services grew the number of members who use bill pay by 25%, and, in turn, these members increased usage of their checking accounts. Additionally, transactions initiated through PicturePay® and P2P have increased by approximately 50% compared to our previous bill-pay provider.
PicturePay® technology allows members to pay bills and set up payees from their mobile phones by simply taking a photo of their bill. Allied’s P2P solution provides real-time person-to-person transaction speed, allowing recipients to accept payments through standard ACH or in real time to their debit cards.
Carrie Heck, Account Relationship Manager for Sharetec, comments, “Providing our clients more options when offering their members online bill payment services helps our credit unions increase their online banking interaction while keeping their members happy. Members are constantly looking for the latest tools to meet their financial needs. Providing Allied’s convenient and easy-to-use payment solutions on the powerful Sharetec mobile platform is a great win for our customers.”
To improve your bill pay capabilities with Sharetec and Allied Payments, contact your Sharetec Account Relationship Manager or email simplicity@Sharetec.com.