Allied has realized significant market adoption of its Picture Pay® mobile photo bill pay solution among community financial institutions and has tapped Bellavance to manage continued growth within the credit union sector. Picture Pay has proven itself as a strategic offering in enabling credit unions to better compete against large, national banks for both member acquisition and retention.
Through its implementations nationwide, Allied has discovered that on average, half of Picture Pay users were not previously enrolled in their institution’s bill pay and, as such, represent new bill pay customers leveraging the institution’s mobile channel – important because reports indicate that non-bill pay users are 13 percent more likely to leave their institution, whereas bill pay users are only 3 percent more likely to leave, reducing the customer churn rate by about 75 percent.
“Our demand within the credit union space continues to grow at a rapid rate as more and more institutions realize the importance of adopting a unique mobile bill pay solution, and I am confident that Joe will be instrumental in further expanding our customer base,” said
About Allied Payment Network
Allied Payment Network is a visionary and innovative company that applies emerging bill pay technologies for the financial industry and its customers. The company was created to make the bill paying process easier and more convenient for the consumer, and more efficient and cost effective for financial institutions. With its solution, Picture Pay®, Allied has pioneered the first mobile point, shoot, and bill pay application for smartphones. For additional information on how Picture Pay is enabling financial institutions to more successfully promote mobile bill pay to their customers and members, visit www.alliedpayment.com.
For Allied Payment Network
Source: Allied Payment Network