SWBC, an international financial services company providing a wide range of insurance, mortgage and investment services to individuals, business and financial institutions, announced that over the past six months, the company’s financial institution group has seen tremendous growth and success.
One factor contributing to the group’s continuous achievement is their commitment to strategic partnerships. SWBC’s financial institution group is currently partnering with five companies in order to create innovative solutions in the payment processing space. One partnership with Tuple Labs, a full service digital technology firm based in Austin, Texas, pairs Tuple’s research capabilities, user-validated design and in-house engineering experience with SWBC’s expertise in the financial industry to further aid credit unions, banks and consumers in the origination, remittance and settlement of payments.
Additionally, the financial institution group also developed consumer studies to shape the company’s business goals and technological development. The company recently conducted a study with over 100 consumers, asking them what they want and need from bill pay solutions in order to better serve their customers.
On the technology front, SWBC’s financial institution group is actively investing in its available hosted Intelligent Voice Recognition (IVR) payments channel, to enhance user experience and further reduce a financial institution’s need to manually process payment transactions. The program’s investment will deliver an improved workflow design that takes the borrower through the process of making a payment step-by-step, pre-authorizes the caller based on their phone number and supports more intuitive caller inputs by employing a powerful natural language processing (NLP) engine.
Furthermore, the company’s widely used Electronic Cash Management (ECM) product has added approximately 110 customers in the past 18 months, enabling SWBC to execute upon plans to deliver broader payment solutions in the industry. SWBC’s financial institution group established a new payments business unit to take on wider payment challenges. The new unit, AutoPilot Payments, is being led by Jason O’Brien, senior vice president of payments.
In order to provide an environment that enables product management and operational departments to find innovative and new ways to work together, SWBC has leased extra office space in San Antonio, Texas. The space will support account servicers, insurance partners and product support, management and development teams. In addition, the company purchased an office building in Overland Park, Kan. with room for 130 employees.
“Through our strategic partnerships, improved applications and innovative technology, we have experienced significant success across the board over the past six months, and we project further growth throughout the rest of this year,” said Brad Young, chief operating officer at SWBC financial institution group. “Our goal is to further expand upon the solutions we provide to our valuable customers in order to ensure the highest quality service possible.”