Following this announcement, the PayLink Manage solution is expected to enable users and customers to both monitor their recurring payments and transactions, as well as make real-time changes within the banking application.
In addition, Atomic will continue to focus on meeting the needs, preferences, and demands of its clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry.
By leveraging the subscription management technology of PayLink Manage, account holders will have the possibility to view, update, and optimise all their recurring payments directly within their financial institution’s application, while also being enabled to take action and cut unnecessary spending and be better with their funds and money. Banks and financial institutions are expected to experience more frequent and secure interactions, while also deepening the overall customer relationship.
PayLink Manage was developed to address the growing complexity customers face with the process of managing recurring payments, by centralising and automating oversight and control. The feature is set to also provide a unified experience where clients can connect, view, and track all their recurring transactions, including bills and subscriptions such as streaming services, phone, and internet plans, rent, auto-insurance, and mortgage payments.
In addition, customers will be allowed to take real-time actions on their transactions, without the need to leave the banking application. With Atomic’s direct and safe connectivity, insights into usage data, plan details, itemised receipts, and other subscription information being accessible, the solution is expected to provide deeper analysis and facilitate precise actions that will optimise the way clients save money.
The product will deliver improved service offering, as integrating subscription management capabilities into banking application is set to optimise the suite of solutions offered to customers, while also focusing on increasing value by providing guidance and actions in order to reduce financial stress. At the same time, PayLink Manage will provide banks with data on customer spending habits and financial needs, aiming to enable more targeted and timely capabilities for related financial products like insurance, loans, and saving accounts. This is also expected to increase revenue through successful and secure cross-selling.
Throughout this launch, Atomic aims to extend its robust connectivity framework to subscription management, while also providing financial institutions with access to products that will improve customer engagement and retention by optimising the way people take action to improve their financial outcomes.
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