Blue Motor Finance and digital payment provider Banked have teamed up to simplify the payment process for the former’s customers, the companies announced this week.
Banked customers can now pay directly using their online banking app. It can be integrated with existing payment capabilities for companies to improve the customer payment experience and cost-effectiveness of payments.
By connecting customers directly to their online banking app via a request to pay link sent to their email or phone, transactions are kept secure as payments can be made at the touch of a button, the companies said. Customers do not have to complete any forms. Instead, they select their bank to access their online banking portal and authorize the payment. Funds are then transferred instantly from the customer’s bank account to Blue.
Blue said it initially deployed the technology to improve its missed payments and arrears collections. It has plans to introduce the technology to other areas such as settlements. Since its introduction, Blue said it has seen more than double the number of customers making payments using a payment link in comparison to traditional methods such as calling customer services.
“We are excited to be working with Banked,” Blue Motor Finance CEO Tiku Patel said. “Their proposition coupled with Blue’s pursuit of challenging the norm through using technology, and enhanced data and analytics will help provide customers with outstanding service. This latest partnership makes our service to customers quicker and develops the ways in which we transact with customers.”
“Blue Motor Finance’s drive to use smart technology to improve customer experiences and increase efficiency is completely aligned with the Banked aim to drive real value to businesses and consumers through building innovative payment technology,” Banked CEO Brad Goodall added. “Banked is delighted to be partnering with Blue to develop even more ways to help customers make payments securely and simply and improve customer service.”
