80%
reduction in payment-related calls to the contact center
76%
increase in transaction volume
$81,000
in fee income generated through skip-a-pay promotions
Background
Alabama Credit Union, established in 1956 to serve the University of Alabama community, has grown to serve members across Alabama and parts of Florida. With 34 locations and 151,000 members, the credit union boasts $1.9 billion in assets and a reputation for personalized service and financial excellence. Today, Alabama Credit Union uses Alacriti as its primary payments portal for on-time payments for members.
Needing a Change in Loan Payments
Before adopting Alacriti’s Orbipay EBPP (electronic bill presentment and payment) loan payments solution in 2020, Alabama Credit Union faced significant limitations with its previous payment solution. The lack of a member-facing portal meant payments had to be scheduled through staff, restricting accessibility and self-service options. The absence of core integration compounded the inefficiency, leading to manual processes and delayed postings. “Prior to Alacriti, our payment portal was very rudimentary. Payments had to be scheduled either in the contact center or in the branch, which meant that members had no access outside of business hours, and there was no self-service option at all,” said Dustin Kizer, Digital Services Director for Alabama Credit Union.
Alabama Credit Union’s previous loan payments EBPP solution had a very high fee structure and no core integration. Also, although it had an online solution, Alabama Credit Union never fully launched it to its members because it required complete enrollment, requiring the user to create a separate login from their online banking. Recovering those logins was a burden to their members and call center, so they shut it down. Members were only able to pay by phone. Payments were manually credited to each loan by the phone agent in order to provide immediate credit for the member and for the payment to reflect in online banking the same day. However, Alabama Credit Union would have to settle it on the backend a couple of days later. Because of this, a lot of errors were made. It was an inefficient process that they were able to streamline with Alacriti with the live core integration.
Why Orbipay EBPP Loan Payments Solution?
The decision to partner with Alacriti and adopt Orbipay EBPP stemmed from its ease of enrollment, core integration capabilities, and flexibility. Alacriti quickly deployed a payment portal, enabling self-service options and real-time payment experiences for members. Core integration streamlined payment processing, eliminating manual tasks and improving efficiency. In addition, Alabama Credit Union can curate a payment experience for members depending on the loan type and their entry point into the system.
Benefits
Since implementing Orbipay EBPP, the insurer has seen measurable improvements:
Future Plans
Looking ahead, Alabama Credit Union aims to further enhance its member experience and payment options:
Alabama Credit Union’s successful adoption of Orbipay EBPP shows the transformative power of innovative payment solutions in improving member satisfaction, operational efficiency, and revenue generation. Through strategic partnerships and a commitment to digital transformation, the credit union continues to lead in providing exceptional financial services to its members. “Partnering with Alacriti has been the best decision for Alabama Credit Union. Their expertise, support, and adaptable solutions have enabled us to grow a sustainable payment channel and enhance our member experience. Alacriti truly lives up to its name, providing swift and cheerful readiness every step of the way,” said Kizer.
