Fiserv Inc. says its financial institution customers have significantly increased their e-bill activation rates in the six months since implementing the most recent upgrade of Fiserv's CheckFree Web RXPSM. E-bills are online versions of paper bills that are securely delivered directly to a financial institution's or billing company's Web site.
As a result of enhancements delivered with the CheckFree Web RXP Feature Pack 1 release, consumer e-bill activations jumped by 145% in the first week following the delivery of the feature pack to Fiserv's bank and credit union customers, according to an analysis of transactions from five of Fiserv's major financial institution customers. As of Dec, 31, 2008, the average e-bill activation rate had stabilized at a 30% higher level than the rate recorded in the two months prior to the delivery of Feature Pack 1.
In addition, the volume of e-bill activation requests per consumer jumped by 34% in the week immediately after the Feature Pack 1 release, meaning more consumers signed up for multiple e-bills, according to Fiserv. Feature Pack 1 of CheckFree Web RXP was rolled out simultaneously to more than 2,200 financial institutions last July.
"These positive results demonstrate that CheckFree Web RXP's user-friendly interface is driving more consumers to adopt e-bills and online bill payment as faster, more convenient ways to manage their monthly financial obligations," says Todd Lesher, president of Fiserv's electronic banking services division. "Our research has repeatedly shown that consumers who receive e-bills and pay their bills online are more loyal and valuable to our financial institution customers."