Enhancing convenience and accessibility for Oakbrook Finance customers with Pay by Bank

From payment portal to Pay by Bank

Our partnership with Acquired has been instrumental in modernising our payment processes. We began with implementing their online payment portal, which provided a user-friendly and secure way for customers to make repayments. As we saw the efficiency and reliability of the platform, we expanded our collaboration to include call payments, enabling our customer service team to process payments directly during customer interactions. A few years later, we added Pay by Bank to further simplify and enhance the payment experience.

This progression reflects how Acquired solutions have grown alongside our needs, helping us streamline operations and offer customers multiple convenient ways to manage their repayments.

A platform and a team that make payments simpler

The intuitive dashboard and comprehensive reporting tools from Acquired have been pivotal for streamlining our operations. The seamless integration with our systems has removed friction, while robust fraud detection instils confidence in both us and our customers. Moreover, the platform’s adaptability allows us to customise payment solutions to align with varied customer needs.

The team at Acquired has been a pleasure to work with—always responsive, supportive and efficient. Managing payments has become simpler, thanks to their insightful dashboard and user-friendly transaction search functionality, which is notably better than other platforms we’ve used.

A partner-based approach

This has enabled us to gain deeper insights into customer payment behaviours through detailed reporting and analysis. Acquired’s proactive account management ensures we stay ahead of potential issues, and the collaborative support has allowed us to fine-tune our payment strategy to maximise efficiency and customer satisfaction.

A more direct, secure and cost-effective way to pay

We adopted Pay by Bank to provide a more direct, secure, and cost-effective payment method for our customers. We aimed to reduce the dependency on card payments, lower transaction fees, and address late payments by simplifying the process. Customers use Pay by Bank for various scenarios, such as setting up repayments directly from their bank accounts or settling missed payments quickly without needing additional credentials.

Pay by Bank has had a positive impact on our collections process, especially in helping us reach customers who have previously missed or failed payments. Its simplicity and real-time nature make it easy for customers to settle their balances directly from their bank accounts, reducing delays and increasing engagement.

Making Pay by Bank more visible

At Oakbrook, we are actively looking for ways to further improve the operation of Pay by Bank internally, including making it more visible and accessible to our customers from the platform. By enhancing its visibility, we aim to encourage more customers to use this efficient payment method, which benefits both them and our operations.

Pay by Bank will continue to be essential for our collections strategy as we aim to enhance convenience and accessibility for our customers. As digital banking evolves, we foresee Pay by Bank playing a pivotal role in reducing payment friction and improving overall recovery rates.