Most US consumer loan payments are still not electronic; lenders are focused on security and fraud mitigation - findings from new research commissioned by BillingTree

PHOENIX, Oct. 27, 2015 /PRNewswire/ -- BillingTree® today released the results of recently commissioned research conducted by SourceMedia Research/American Banker. The report, titled "Consumer Finance Business Strategy and Technology Survey 2015," is based on a study commissioned by BillingTree in August 2015, and conducted by SourceMedia Research drawing on American Banker's audience of financial services decision makers. The complimentary report is available for download at http://ow.ly/TSj3S.  In addition, the company also re-established their 'Payment and Technology Spotlight' webinar series, focused on informing and sharing best practice advice with financial industry professionals. The first webinar will be Nov 4^th at 2:00 pm ET and will review the survey results in greater detail. Registration for the complimentary webinar, which includes a copy of the survey results, is now open at http://ow.ly/TSiJB.

The purpose of the Consumer Finance Business Strategy and Technology Survey 2015 survey was to understand the usage of payment technology solutions and the priorities of decision-making consumer lending professionals - and to establish a benchmark to examine year-over-year trends as the industry navigates a shifting business and regulatory environment.

Key observations and findings from the survey report include:

1. Paper checks represent 41% of all US loan payments and when combined with cash payments (11%), over half of all loans are paid non-electronically by consumers.
2. Fraud mitigation, data security and compliance were cited as the factors most critical to business growth by Lenders.
3. E-mail is the primary communication method deployed by lenders for post loan communications followed closely by paper mail.
4. In addition, the report breaks out findings by financial institution size and offers more granular information including technology utilization, payment acceptance, communications and more.

Payment & Technology Spotlight Series:
Information on the webinar series and details for future webinars will be added to the Payment and Technology Spotlight series landing page at http://ow.ly/TSk8q.

Currently planned topics include:

1. November  4^th – Overview of the 2015 Consumer Finance - Business Strategy and Technology Survey.
2. A virtual session focused on healthcare receivables.

"Last year's spotlight series saw record attendance, with hundreds of industry professionals attending our sessions. This should continue to rise this year, as more decision makers explore the bottom line and compliance benefits of incorporating payment technology into their business strategy," said Dave Yohe, Head of Marketing at BillingTree.

"A growing awareness is reflected in the responses from our recent survey of lending institutions, where compliance and security ranked as top-of-mind concerns for industry professionals, with the use of payment technology continuing to close the gap on more traditional payment channels. This first interactive webinar in the spotlight series gives us a chance to take a deeper dive into the results and benchmark these against the concerns of attendees."

Additional Information
To register for the November 4th Consumer Finance Business Strategy and Technology Survey 2015 webinar and receive a copy of the report - http://ow.ly/TSiJB

To download a copy of the Consumer Finance Business Strategy and Technology Survey 2015- http://ow.ly/TSj3S

For details on the Payment Technology Spotlight series - http://ow.ly/TSk8q

About BillingTree
BillingTree® is the leading, technology focused payment solutions company providing innovative Accounts Receivables products and services that enable organizations to increase efficiency and decrease costs of processing payments while adhering to compliance regulations. For over a decade, BillingTree has committed itself to understanding the marketplace and growing payments with technology, helping merchants accept multiple payment channels while offering comprehensive value their clients have come to rely on. BillingTree has a reputation for dependable solutions and extraordinary customer service, processing billions of dollars of payments annually through a suite of solutions and services that integrate with your company's needs. Visit www.MyBillingTree.com or call 877.4.BILLTREE for payment technology that works.

About SourceMedia Research
SourceMedia Research (a unit of SourceMedia, publisher of American Banker) provides complete custom B2B research solutions for strategists, marketers, agencies and others seeking in-depth insight into select segments of the financial services industry. SourceMedia Research combines a strong technical competency in market research with deep market knowledge and focus. www.sourcemedia.com

About American Banker
American Banker, a SourceMedia brand, is the essential resource for senior executives in banking and financial services, keeping its users updated on vital developments and focusing sharply on their most important concerns. Financial industry professionals turn to American Banker to stay maximally informed and engage with an authoritative community of analysts, practitioners and innovators through opinion content, research panels, social media, and live events. Bank Technology News is the technology resource of American Banker, serving an elite community of IT professionals, as well as c-suite and line-business executives whose success depends on the effective application of today's changing technologies.

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SOURCE BillingTree

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