June 11, 2019 - FOR IMMEDIATE RELEASE
LINO LAKES, MN – Sharetec System, core technology made simple, announces the successful launch of Allied Payment Network’s PicturePay® and P2P digital payment solutions at Madison, Wisc.-based Members First Credit Union. According to credit union officials, they implemented Allied’s technology as a way to successfully grow its checking accounts and encourage members to make the credit union their primary financial institution.
PicturePay technology allows members to pay bills and set up payees from their mobile phone by simply taking a photo of their bill. Allied’s P2P solution provides real-time person-to-person transaction speed, allowing recipients to accept payments through standard ACH or in real time to their debit cards.
“After seeing Allied Payment Network at Sharetec’s Users Conference, we knew we wanted to utilize its technology for our many members, whose primary relationship with the credit union is auto and HELOC loans,” said Jenny Kutz, Vice President of Operations for Members First Credit Union. “We thought PicturePay would be a great way to help push checking accounts to these individuals.” According to Kutz, implementing both of Allied’s services grew the number of members who use bill pay by 25% and, in turn, these members increased usage on their checking accounts. Additionally, Kutz reported that transactions initiated through PicturePay and P2P have increased approximately 50% compared to the credit union’s previous bill pay provider.
“The enhanced user experience PicturePay and P2P provides helps drive bill pay adoption and creates ‘stickiness’ with the member,” commented Chris O’Brien, Vice President of Business Development for Allied Payment Network. “Sharetec has been instrumental in introducing Allied technology to credit unions like Members First and helping them realize tangible success.”
"Providing our clients more options when offering their members online bill payment services helps our credit unions increase their online banking interaction while keeping their members happy, said Carrie Heck, Account Relationship Manager for Sharetec. “Members are constantly looking for the latest tools to meet their financial needs and providing Allied’s convenient and easy-to-use payment solutions on the powerful Sharetec mobile platform is a great win for our customers.”
To read the full case study about Members First Credit Union launching Allied Payment’s PicturePay® and P2P solutions, visit us at http://www.sharetec.com/case-studies.
About Allied Payment Network
Allied Payment Network is an industry-leading provider of emerging bill pay technologies to the financial services industry. With its award-winning solution, PicturePay®, Allied pioneered the first mobile photo bill pay application for smartphones and has brought the same level of innovation to its full suite of online and mobile bill pay channels, including solutions for Internet bill pay, small business payments, person-to-person, account-to-account payments and online loan payments, among others. For more information, visit www.AlliedPayment.com.
About Members First Credit Union
Established in 1954, Members First Credit Union is a full-service community credit union located in Madison, WI.
About Sharetec
Sharetec, a provider of both in-house and service bureau core solutions, has delivered an ROI, building income streams and lowering operating expenses to over 250 credit unions. Sharetec has grown 67% since 2000.
Carrie Heck
Account Relationship Manager
844-802-4441
simplicity@sharetec.com
This information contained in this press release is accurate at the time of publication. However, specified information may change over time.