With ACI's unique approach to bill payment, top 20 auto finance
company to increase efficiencies and save millions in processing expenses
NAPLES, Fla.--(BUSINESS WIRE)--
ACI
Worldwide (NASDAQ: ACIW), a leading global provider of electronic
payment and banking solutions, announced today that
Westlake Financial Services, one of the nation's leading auto finance
companies, has selected ACI UP Bill Payment Solutions, the
industry's most comprehensive electronic
bill pay service, to facilitate customer loan payments. With ACI's
omni-channel bill payment approach, Westlake customers will be able to
easily pay loans with a debit card or ACH (Automated Clearing
House)—accepting payments through online, mobile, phone and
text—resulting in improved efficiencies and significant cost savings.
With more than $2 billion in total managed assets and 270,000 customer
accounts across all 50 states, Westlake Financial Services is a rapidly
growing full spectrum finance company. With ACI, Westlake expects to
save 20 percent on its debit card payment processing expenses, which
over time is projected to contribute $5 million in savings. UP Bill
Payment Solutions deliver industry-leading consumer engagement, cost
control and compliance, as well as improvements in efficiency, an area
of focus for Westlake's executive team.
"Before ACI, it would have taken us years to realize the efficiency
gains that UP Bill Payment Solutions provide; as such, making the switch
to ACI was an easy decision," said John Mason, vice president of
operations, Westlake Financial Services. "This cost savings, combined
with ACI's compliance and money transmitter licenses, set them apart
from the other options in the marketplace."
"Massive regulatory changes, shifts in consumer spending and industry
cost structures have created complexity in auto finance payment
processing," said Scott Fitzgerald, vice president and product line
manager, ACI Worldwide. "We're pleased to bring ACI's 40 years of
payments experience to enable successful auto finance companies like
Westlake to profit from these changes."
About ACI Worldwide
ACI Worldwide, the Universal
Payments company, powers electronic payments and banking for more
than 5,600 financial institutions, retailers, billers and processors
around the world. ACI software processes $13 trillion each day in
payments and securities transactions for more than 300 of the leading global
retailers, and 18 of the top 20 banks worldwide. Through our
comprehensive suite of software products and hosted services, we deliver
a broad range of solutions for payment processing; card and merchant
management; online
banking; mobile, branch and voice banking; fraud
detection; trade finance; and electronic
bill presentment and payment. To learn more about ACI, please visit www.aciworldwide.com.
You can also find us on Twitter @ACI_Worldwide.
© Copyright ACI Worldwide, Inc. 2015.
ACI, ACI Payment Systems, the ACI logo and all ACI product names are
trademarks or registered trademarks of ACI Worldwide, Inc., or one of
its subsidiaries, in the United States, other countries or both. Other
parties' trademarks referenced are the property of their respective
owners.
Product roadmaps are for informational purposes only and may not be
incorporated into a contract or agreement. The development release and
timing of future product releases remains at ACI's sole discretion. ACI
is providing the following information in accordance with ACI's standard
product communication policies. Any resulting features, functionality,
and enhancements or timing of release of such features, functionality,
and enhancements are at the sole discretion of ACI and may be modified
without notice. All product roadmap or other similar information does
not represent a commitment to deliver any material, code, or
functionality, and should not be relied upon in making a purchasing
decision.
Media Contact:
ACI Worldwide
Dan Ring, 781-370-3600
dan.ring@aciworldwide.com
Source: ACI Worldwide
News Provided by Acquire Media
