The special asset division of BB&T, a North Carolina-based financial holding company, has signed a multi-year agreement for biller-direct electronic payment solution of Online Resources, a provider of online financial services.
BB&T will implement Online Resources’ service fee payments in the second quarter, enabling its live agents to accept consumer loan payments over the phone. For these payments, Online Resources will provide customer data collection and validation, fee and payment processing, interchange management and settlement. In addition, BB&T will be able to access real-time, on-demand reporting, tracking and management through an online client console.
Service Fee payments is one of the option within Online Resources’ eCom Advantage Suite, which provides end-to-end electronic bill presentment, payment and collection solutions that drive online adoption, retention and expansion of biller-direct payments.
Donna Stalls, vice president and process manager for special assets at BB&T, said: “Online Resources’ biller-direct payment solution seamlessly integrates with our existing client care infrastructure, enabling us to quickly and effectively capture loan payments over the phone. Our clients benefit from enhanced service while Online Resources removes the risk and complexity of these payments for us by managing payment network costs.”
Robert Craig, executive vice president and general manager of eCommerce services for Online Resources, said: “We are pleased to enable BB&T to provide one-call resolution for those customers needing special attention to make payments that require immediate posting. At the same time BB&T will increase efficiency and lower risk for their incoming loan payments. We look forward to making this service available to them in the very near future.”