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More than 3 in 10 Consumers are Delinquent on Mortgage Payments due to Bad Billing and Payment ExperienceWhen it comes to mortgages, convenient payment methods reduce late payments by up to 76 percent, per new benchmark data from ACI Worldwide (NASDAQ: ACIW) and MasterCard (News - Alert) Advisors. A survey of 400 U.S. consumers with a mortgage reveals that convenience also reduces call center calls by nearly 85 percent (83%) and social media complaints by nearly 50 percent (49%). Principal consumer findings include:
Mortgage company pain points and opportunities:
Leading mortgage servicers are responding to consumer demand by offering debit card payments. "First and foremost, we want members to pay and have the options to make it convenient for them to do so," said Rob Lefkowicz, vice president, Operations, Langley Federal Credit Union. "Therefore, we offer many easy options, including debit cards and ACH across self-service channels for members to pay their mortgages." "To enhance their profitability, 4 of the 20 top mortgage servicers accept card payments today," said Steve Kramer, vice president, ACI Worldwide. "When it comes to mortgage payments, we've gone beyond early adopters to the early majority stage, which is further reinforced by this new data. Card payments will (continue to) enhance ease and convenience for mortgage customers." ACI payments experts will be on hand at the National Mortgage Servicing Conference & Expo 2018 to highlight best practices for mortgage professionals. Additionally, a detailed analysis of this mortgage data-"Mortgage Servicers Don't Offer Customers Their Favorite Way to Pay...Card!"-can be found here. Methodology and Demographics: Methodology: Online survey of 400 U.S. consumers with a mortgage conducted by MasterCard Advisors in November 2017. Detailed data: Describe why you missed or made a late mortgage payment:
*Total sums to more than 100% as some respondents may have multiple reasons About ACI Worldwide (News - Alert) ACI Worldwide, the Universal Payments (UP) company, powers electronic payments for more than 5,100 organizations around the world. More than 1,000 of the largest financial institutions and intermediaries, as well as thousands of global merchants, rely on ACI to execute $14 trillion each day in payments and securities. In addition, myriad organizations utilize our electronic bill presentment and payment services. Through our comprehensive suite of software solutions delivered on customers' premises or through ACI's private cloud, we provide real-time, immediate payments capabilities and enable the industry's most complete omni-channel payments experience. To learn more about ACI, please visit www.aciworldwide.com. You can also find us on Twitter (News - Alert) @ACI_Worldwide. © Copyright ACI Worldwide, Inc. 2018. ACI, ACI Worldwide, ACI Payment Systems, the ACI logo, ACI Universal Payments, UP, the UP logo, ReD, PAY.ON (News - Alert) and all ACI product names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties' trademarks referenced are the property of their respective owners. Product roadmaps are for informational purposes only and may not be incorporated into a contract or agreement. The development release and timing of future product releases remains at ACI's sole discretion. ACI is providing the following information in accordance with ACI's standard product communication policies. Any resulting features, functionality, and enhancements or timing of release of such features, functionality, and enhancements are at the sole discretion of ACI and may be modified without notice. All product roadmap or other similar information does not represent a commitment to deliver any material, code, or functionality, and should not be relied upon in making a purchasing decision. View source version on businesswire.com: http://www.businesswire.com/news/home/20180207005034/en/ |