Allied Bill Payment
Customers can manage and pay bills quickly and easily with Allied Bill Payment.
About this app
Allied Bill Payments creates a new avenue for community Financial Institutions to fend off disintermediation by centralized services (like Billers Direct), optimize consumer experience to use their available funds in real time, and maximize Financial Institutions’ informed marketing opportunities.
Consumers want to pay bills in the simplest and fastest way possible and consider that all payments should be instant. However, due to the poor experience within current bill payment offerings, they are often choosing to go to multiple places to gather bill payment information and ensure that payments are made on time to avoid late fees or loss of service (e.g., Vendor website, Institution website, Payment app, etc.). Research shows that over the past three years, 70% of bills are paid through Biller Direct and nearly 20% of users have moved from bank directed payments to paying bills directly with their provider.
Effective Payment Speed
Current ACH based payment mechanisms take 2+ days to reach a payee, and some payments still go by paper check, requiring 5 days. Allied Bill Payment quickly delivers instant payment capabilities leveraging end-to-end real-time infrastructure, reducing the lag on the payment flow.
User Experience to fend off intermediation
Bank Directed payments have an advantage as they are currently holding the funds that can be used for payments, but user experience is neglected with most providers. Allied Bill Payments provides real-time payment capabilities, allowing for last minute bills to be paid and makes you client want to stay.
Effective Data and Analysis
By keeping the consumers in the Financial Institution’s website/app, Allied Bill Payments gives a quick access to payment data and allows the institution to get up-to-date information to leverage in additional marketing campaign and potential revenue.
Building blocks
Account Information (US)
Retrieve a list of accounts and transactions, obtain account and transaction images (e.g. Check Images or Deposit Images)
Good Funds
Post transfers between an internal consumer account and an internal general ledger account
Consumer
Retrieve account holder data and Financial Institution account holders based on search criteria
