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Prelude's Insights on Outbound Payments Blog

The top 5 reasons Insurance Carriers are slow to implementing new payment methods

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Single Use Accounts--Preventing Check Fraud While Streamlining Payment Processes

According to findings published in the 2015 AFP Payments Fraud and Control Survey, 62 percent of companies were targets of payments fraud in 2014. The most targeted methods of payments were checks (77 percent), credit/debit cards (34 percent), and wire transactions (27 percent). Incidentally, checks were also the payment method most likely to result in financial loss, with 45 percent of the companies that experienced a loss due to fraud reporting that checks were involved. Despite the prevalence of check fraud, the survey also revealed that fully 70 percent of B2B payments are still made via check.

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Tags: issue payments electronically, disbursement workflow, disbursement hub, disbursements, security, flexibility, improve process, single payment, reduce risk, Single Use Accounts, SUA, card payments, control, reduce the costs of issuing payments, disbursement processes, claim payments, checks, claim settlements, insurance claims processing, reduce cost of processing claims, PayPilot, electronic payment, Trends and Observations, safety, fraud protection, fraud prevention, check fraud protection, check fraud, fraud, check fraud prevention

Disbursement Hub: Build, Buy or Outsource?

 

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Transaction pricing model makes payment processing frictionless

PayPilot® and its transaction pricing model make outbound payment processing frictionless

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Tags: payment processing, ACH, issue payments electronically, remittance data, self-service capabilities, bank agnostic, disbursement workflow, nimbleness straight through processing, cost savings, lifecycle of existing systems, disbursement hub, Outbound Payment Processing, disbursements, make the process better, changes to process, competitive threat, flexibility, cost of issuing a paper check, improve process, approvals, bulking, remittance.electronic payments, issuing payments, electronic remittance, Positive Pay, Payee Positive Pay, card payments, bank account information, bank account info, originating systems, methods of payment, ancillary processing, issuing outbound payments, reduce the costs of issuing payments, new payment methods, payments by cards, payments on location, disbursement processes, issue claim payments, issue payments, claim payments, checks, MICR checks, reconciliation, transaction, claim settlements, enterprise-wide middleware, payment disbursement hub, insurance claims processing, claims processing improvement, lower cost of processing claims, reduce cost of processing claims, insurance industry trends, PayPilot, electronic payment, insureds, Catastrophic Events, CATs

A CIO’S SECRET TO SAVVY OUTBOUND PAYMENT PROCESSING

 A CIO’S SECRET TO SAVVY OUTBOUND PAYMENT PROCESSING:

THE DISBURSEMENT HUB

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Tags: payment processing, ACH, issue payments electronically, bank agnostic, disbursement workflow, cost savings, lifecycle of existing systems, add-on components, disbursement hub, Outbound Payment Processing, disbursements, make the process better, changes to process, flexibility, cost of issuing a paper check, improve process, paper, approvals, bulking, issuing payments, electronic remittance, Positive Pay, Payee Positive Pay, card payments, bank account information, issue payments to the one-off payees, bank account info, originating systems, methods of payment, ancillary processing, control, issuing outbound payments, new payment methods, payments by cards, disbursement processes, issue claim payments, issue payments, claim payments, checks, MICR checks, reconciliation, transaction, claim settlements, enterprise-wide middleware, payment disbursement hub, insurance claims processing, claims processing improvement, lower cost of processing claims, reduce cost of processing claims, insurance industry trends, PayPilot, electronic payment, Catastrophic Events, CATs

PayPilot Enables ASO's Use of Electronic Payments

Many large businesses have decided to utilize a self-funded health insurance plan, administered through Administrative Services Only (ASO) from a health insurance carrier, to cover the medical expenses of their employees.  ASO plans help businesses control cost, offer flexibility and retain employees.

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Tags: payment processing, ACH, issue payments electronically, remittance data, integrity of payment data, self-service capabilities, bank agnostic, disbursement workflow, nimbleness straight through processing, cost savings, disbursement hub, Outbound Payment Processing, disbursements, make the process better, changes to process, flexibility, cost of issuing a paper check, improve process, paper, individual payments, single payment, remittance.electronic payments, issuing payments, electronic remittance, Positive Pay, Payee Positive Pay, Single Use Accounts, SUA, card payments, bank account information, bank account info, originating systems, methods of payment, ancillary processing, control, issuing outbound payments, reduce the costs of issuing payments, new payment methods, payments by cards, disbursement processes, issue claim payments, issue payments, claim payments, checks, MICR checks, reconciliation, payee, transaction, claim settlements, enterprise-wide middleware, payment disbursement hub, insurance claims processing, claims processing improvement, increase customer satisfaction in insurance indust, lower cost of processing claims, reduce cost of processing claims, insurance industry trends, PayPilot, electronic payment

Mobile Disbursement Technology Set to Transform Insurance Industry

If You Are Not Embracing Mobile In To Your Disbursement Strategy,

 You May As Well Be Doing This!


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Tags: payment processing, ACH, issue payments electronically, disbursement workflow, nimbleness straight through processing, disbursement hub, disbursements, security, single payment, issuing payments, Single Use Accounts, SUA, bank account information, issue payments to the one-off payees, originating systems, methods of payment, ancillary processing, issuing outbound payments, speed of the transaction, new payment methods, payments by cards, payments on location, disbursement processes, issue claim payments, issue payments, claim payments, claim settlements, payment disbursement hub, insurance claims processing, claims processing improvement, reduce cost of processing claims, insurance industry trends, mobile insurance solutions, insureds, Catastrophic Events, CATs, same-day cash

Improving Claims Processing – Why Does the Insurance Industry Need It?

Reason # 1 – Increase Profit by Providing Better Customer Experience and Satisfaction

With changing times, customers’ needs also evolve. Not only do the customers search for new insurance products, but they also look for new, better experiences with their insurance companies. These days, the customer’s loyalty directly depends on excellent customer service provided on the consistent basis.  Sadly, the basic thing that customers expect from their insurers – open communication – is often unachievable. Another thing that is very desirable for customers is mobility and speed.  Not surprisingly, the claims are in the center of those needs and the way how each claim is handled can make or break the relationship with the insurer.

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Tags: payment disbursement hub, insurance claims processing, claims processing improvement, increase customer satisfaction in insurance indust, lower cost of processing claims, reduce cost of processing claims, insurance industry trends, PayPilot, problems insurance industry faces, mobile insurance solutions, PointPay

Do you know the items on the Disbursement Hub Checklist?

Disbursement Hub Checklist

Learn the key items to consider when implementing a disbursment hub for your organization. 

Download Checklist

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