Improving the customer bill pay experience with digital tools

With the rise of faster payments, digitisation in this space evolved well before COVID-19. However, according to industry sources, the global pandemic accelerated digital migration by at least 18-24 months. Ultimately, this forced businesses in the early stages of strategic development to act quickly to meet the needs of their customers.

In this webinar, Kari Rolph, vice president for relationship management at Transactis, a Mastercard company, spoke to how the key advantages of Transactis' solution, BillerIQ® (as part of the Fifth Third treasury management suite) transformed Christian Healthcare Ministries (CHM) receivables operations with Charity Beall, CFO of CHM and Greg Prince, vice president & product management director at Fifth Third Bank. Each shared insights on how consumer payment trends have shifted over the last 10 years to more electronic payment options, how bill pay strategies have evolved along with that shift and the impact of COVID-19.

Coming from unique industry perspectives, hear what Rolph, Beall and Prince had to say about how imperative it is for financial institutions and billers to understand the key factors driving digitisation to meet their clients' needs.  With 76% of US bill payers preferring to have as much payment choice as possible and seeking convenience, speed and simplicity, the presenters also discussed best practices for financial institutions to have the important internal conversations with decision-makers to implement the right products to meet those needs.

For additional perspectives on the digital transformation, view this session recording from ePay Connect 2021, featuring former Transactis CEO Joe Proto and Peter Davey, head of innovation at The Clearing House.