Fiserv Introduces Intelligent Bill Payment
Electronic payment pioneer is transforming the bill payment experience with personalized suggestions, increased automation and unmatched connectivity
CheckFree® NextSM from
“Electronic bill payment has become an intrinsic part of many people’s daily lives, however, features that were once cutting edge are now status quo,” said
CheckFree Next offers APIs that can empower financial institutions to efficiently deliver the capabilities customers expect. Many of these innovative capabilities, including the groundbreaking Bill Discovery, are possible because of the size and scale of the
“As electronic bill payment has become a mainstream technology, a variety of players have challenged financial institutions as providers of the service. Following several years of relative quiet, innovation in this area has taken off in the past 18 months,” said
CheckFree Next can make the bill payer’s experience simpler and less stressful by automating basic tasks. The new Bill Discovery feature uses proprietary technology to automatically identify and connect consumers’ billers to their accounts and then establish the biller as a payee when there is a match.
In addition, payment and data entry is automated, saving bill payers time and helping to prevent errors.
CheckFree Next can empower financial institutions to act as advisors to account holders with more personalized and proactive experiences. Bill payers can sign up for bill pay reminders and alerts that provide visibility into when payments are due and when payments are withdrawn from an account. Bill payers are more engaged with their financial institutions and gain confidence through visibility into where their payment sits in the processing cycle.
Withdraw Now, another new feature of CheckFree Next, allows bill payers to choose to have their bill payment debited right away or on a future date, putting them in control and facilitating financial management.
Real-time capabilities can further enable the control account holders expect. The real-time capabilities of CheckFree Next include instant notifications and, later in 2020, will include real-time money movement.
Soon, CheckFree Next will allow bill payers to receive enhanced notifications that allow payments to be made in real-time and instantly reflected in their accounts.
Many of these new features, such as Bill Discovery, will also be offered as premium add-ons through the other solutions in the CheckFree product suite: CheckFree® RXP® and CheckFree® Builder®.
In a world moving faster than ever before,
- Next Generation Bill Payment – fisv.co/nextgeneration
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