ApexEdge, a partner-enablement platform that offers monthly bill and subscription management solutions to support the financial health of consumers, announced today its integration with Payrailz, a digital payments company offering smarter, more engaging payment experiences to banks and credit unions across the United States. Payrailz will leverage the ApexEdge active intelligence platform to deliver Billshark’s bill negotiation services to credit unions and banks across the nation, supporting members’ and customers’ financial wellness journey by generating savings on their behalf.
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According to the Bureau of Consumer Financial Protection, “almost 80 percent of consumers report living paycheck to paycheck,” and many are being overcharged for monthly service bills like mobile, internet, satellite and streaming services and home security. Due to this problem, the integration provides an opportunity for credit unions to enhance the member experience by offering meaningful cost savings to their membership bases. By integrating with the ApexEdge active intelligence platform, Payrailz’ bank branded native user experience presents financial institution users with a convenient, targeted call to action to reduce their average bills by hundreds of dollars annually without changing the provider or service.
“The ability to proactively help members lower their bills is crucial for our clients, and even more so for our credit union clients. This value-added service shows members that their credit union cares,” said Kavita Singh, VP of AI Product Management at Payrailz. “Doing the hard work of lowering bills for members helps credit unions demonstrate their value, ultimately strengthening member relationships.”
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The partnership has allowed Payrailz’ financial institution clients to further enhance their relationships and increase member and customer savings. In fact, Bill Schirmer, President & CEO of Evansville Teachers Federal Credit Union explained, “By working with Payrailz and now having access to the bill negotiation services, we can help our members reduce the cost of their monthly bills without having to spend the time or effort on actually negotiating their own bills. Now, we can do it for them which will save our members hundreds annually and, ultimately, improve their overall financial health.”
“Credit unions are hyper focused on the quality of member service and few initiatives resonate more positively with members than the ability to help them save money on recurring monthly bills and improve their financial wellness over time,” said Michael Whitt, Head of Partnerships at ApexEdge. “Payrailz is an industry leader in defining the digital member experience and the integration of our solutions further positions credit unions as innovative partners in their members’ financial lives.”
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