News

Payix Improves Customer Experience and Delinquency Metrics for First Help Financial

Timothy Rickard

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.

“The addition of Payix’s white-labeled tools has positively impacted our collection strategies. Our collectors can now tend to other duties with the reduced amount of inbound calls. And best of all, we now have a customer service agent installed on our borrowers’ phones 24/7, 365 days a year,”Pushan Sen Gupta, CEO of First Help Financial
Pushan Sen Gupta
CEO of Furst 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%.

 

In addition:

  • 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.
“Payix’s borrower-facing solutions were engaging and customizable, but they also unlocked a source of data and insight that are essential to our culture of continuous improvement. We constantly scan the market for solutions to make us better and more efficient at delivering exceptional service, so we moved quickly when we found Payix.”
Lucas Oliveira
VP of Operations First Help Financial

To read the full case study and learn more about how Payix partnered with First Help Financial, go to
First Help Case Study

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.

ABOUT FIRST HELP FINANCIAL

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.

Timothy Rickard