Payix Improves Customer Experience and Delinquency Metrics for First Help Financial
New Case Study Reveals Benefits of a Frictionless Payment Experience
Payix, the leader in communication and collections tools for auto lenders and loan servicers, recently published a case study featuring dramatic results for Massachusetts-headquartered First Help Financial.
First Help Financial integrated the entire Payix borrower-facing, white-labeled product suite into its loan management system, including Android and iOS mobile applications, an online borrower portal, an Interactive Response System (IVR), an SMS text-pay solution, and a Client Administration Portal to manage all the products.
As a result, the lender was able to introduce a frictionless payment and communication experience to its borrowers that drove more positive interactions and right-party contacts, provided actionable customer behavior data, and led to improved delinquency and default metrics – all while reducing total collection expenses by approximately 15%.
- Payix now accounts for 4 out of every 5 alternative payment methods used by First Help Financial borrowers.
- First Help Financial increased its customer interactions per-minute ratio by 50% with Payix versus traditional inbound calls.
- Payix automatically handles 5 out of the top 8 reasons for customers calling into First Help Financial customer service, freeing agents to focus on severely delinquent accounts and loss mitigation.
WHY CHOOSE PAYIX?
Payix helps lenders and loan servicers improve their ability to engage with borrowers and collect payments. Payix’s borrower-facing tools – with real-time loan management system integration – display client branding for quick borrower adoption and lasting utilization. Using Payix’s state-of-the-art technology, lenders and loan servicers can instantly communicate with borrowers across multiple channels and secure qualified promises, one-time and scheduled payments. Payix is a registered ISO of Wells Fargo Bank, N.A., Concord, CA and a registered ISO of Deutsche Bank AG, New York, NY. For more information about how we make it easy for lenders and loan servicers to mobilize collections, visit payix.net.
First Help Financial is a highly innovative niche auto lender and loan servicer headquartered in the Boston area. It provides auto loans to the underserved and cares for customers and partners with exceptional service.