Consumers have come to expect personalized experiences in nearly every business interaction—from ordering a pizza to ordering a rideshare. This demand and desire for an easy and seamless payment experience has become increasingly important for lenders who want to attract and retain customers. And it’s not just about meeting customer demand; it can also impact their bottom-line.
Today’s consumers are challenged to manage cash flow amid inflation and rising debt. Keeping up with loans is a key part of that, and it’s often made more difficult with inflexible legacy payment processes. Our latest consumer research found that over half (51%) of borrowers say managing and paying loans causes them anxiety, and 60% wish that process was easier.
Fast, frictionless digital experiences are now driving many consumer decisions. Hyper-personalization is increasingly important to create customer loyalty toward a brand, and payments are a critical part of that. How are successful companies meeting consumer needs and expectations? Data is the key.
With so much market share opportunity on the table, it’s mission critical for operators to optimize every aspect of the bettor experience – particularly payments.
Many operators focus only on promotions to get players to sign up, but they may be losing that investment quickly if bettors have a negative user experience.
High autopay adoption is the gold standard for ensuring high acceptance and lower delinquency rates. Yet many billers still struggle with adoption. For example, only 16% of nonprime auto borrowers are currently enrolled in autopay.