American Financial Services Association

ACI Reviews COVID-19 Impact on AFSA Webinar

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ACI Reviews COVID-19 Impact on AFSA Webinar

On April 2, ACI/SpeedPay presented a program entitled Consumer Pulse Survey – Focus on Auto Finance Billing and Payment as part of the AFSA Business Partner Webinar Series.

Darcy Locke, Principal New Business Developer, ACI Worldwide reviewed the impact the current COVID-19 crisis is having on the lending industry. ACI polled the audience about the impact to their call centers – more than 90 percent experienced an increase in call volume of 25 percent or more.

ACI has found that lenders with strong digital strategies for notifications, payments and collections are best equipped to deflect calls while remaining highly proactive and responsive to customer needs. The research also shows that lenders need to meet their customers where they want to be met with easy, convenient, and fast options to make a payment. While a rapid increase in adoption of mobile channels is expected in 2020, surprisingly, about 20 percent of those polled during the webinar reported that they do not offer any mobile payment options today.

Consumer lenders should take advantage of the digital momentum and double down on efforts to convert traditionalists over the next 12 months. Providing digital payment and notification options will be key to providing relief to overwhelmed call centers and branch operations.

AFSA webinars, presentation materials and full program recordings are available free of charge to members at afsaonline.org/webinars.

April 10th, 2020 by