Innovative Connecticut-based Bank Selects Payrailz to Make Payments Easier and More Engaging for Customers
Payrailz®, a digital payments company offering smarter, more engaging payment experiences to banks and credit unions across the United States, announced that Liberty Bank of Middletown, CT, one of the largest mutual banks in the country, has selected Payrailz’ full platform to power its digital payments vision.
.@LibertyBank_CT partners with @payrailz for smart #payments experience
Liberty Bank, in its effort to continually raise the bar when it comes to delivering extraordinary customer experiences, recognized that its customers want a more personalized, proactive and engaging payments experience. They will be deploying Payrailz’ full platform of intelligent and sophisticated payment technology, including consumer and business bill pay, bill negotiation services, P2P and A2A money transfer services.
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According to BCG’s 2020 Retail Banking Advisory Survey, 37% of respondents want their bank to be more like Amazon, followed by an additional 29% of respondents who want their bank to be more like a personal shopper. To achieve a greater level of personalization that meets these expectations, Liberty Bank conducted a nationwide evaluation and chose to work with Payrailz.
Bank executives cited Payrailz’ innovative payments platform that leverages modern AI and machine learning technology as keys to being able to offer personalized experiences to their customers. The bank also anticipates being able to roll out proactive and actionable recommendations to customers to help them better manage their finances with a key focus on financial wellness.
“At Liberty Bank we pride ourselves on our ability to drive continuous innovation in our digital engagement. Our goal isn’t just to keep pace with current trends; our goal is to offer a money movement experience that sets us apart from the abundance of competition, from large money center banks, to the new Fintech players. Payrailz’ revolutionary payments platform will be the foundation for Liberty to execute on our payments vision now and into the future,” said David Mitchell, EVP, GM, and Chief Digital Officer at Liberty Bank.
“Liberty Bank is an industry recognized leader that is constantly making incredible strides toward innovation. We love working with banks like Liberty who share our vision to constantly push forward and not become complacent with their payment solutions,” said Fran Duggan, CEO of Payrailz. “Liberty embraces technology to provide exceptional service to its customers particularly in today’s ‘Do It for Me’ driven culture. We are proud that they selected Payrailz and our single platform to offer a payments experience that prioritizes ease of use, personalization, actionable insights and helps their customer better manage their financial health.”
