US-based Allied Payment Network, a provider of emerging bill pay technologies to financial institutions, has announced it will join the Movencorp (Moven) collaborative ecosystem.
The system comprises of banks, credit unions and fintech organisations and through it, Allied aims to help financial institutions capitalize on the USD 3.9 trillion bill pay market. The companies will work together to use bill pay technology and its actionable data insights to make it easier for consumers to manage their finances and provide competitive advantages and revenue opportunities for financial institutions.
As representatives from Allied say, many financial institutions consider bill pay to be the ‘ugly stepchild’ of banking - under-appreciated and neglected. However, they consider that it is essential that financial institutions modernise in order to stay competitive, thus the partnership. Moven has been providing technology solutions to financial institutions for over a decade.
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