Operating a network of 67 branches in 16 states throughout the Southeastern and Midwestern U.S., Nicholas Financial purchases installment sales contracts from automobile dealers for used cars and light trucks, as well as offers direct consumer loans in Florida and North Carolina.
Nicholas Financial chose the ACI solution because of its leading bill pay platform — making it easier for customers to pay online or over the phone.
"With increasing regulatory scrutiny in the auto finance market, we stay ahead of the curve on compliance by offering the best loan servicing experiences for our customers," said Todd Stonewall, corporate compliance manager, Nicholas Financial.
"The ACI UP Bill Payment Solution helps us achieve this objective and offers a user-friendly intuitive interface. In addition to the more convenient ways to pay loans, our customers also appreciate that they can avoid the late penalties that accrue if a payment is delayed while waiting for a check to arrive."
Mike Braatz, chief product officer at ACI Worldwide, added, "It’s important for auto loan companies to encourage the usage of debit card and ACH payments so customers can experience a faster and smoother payment process. The UP Bill Payment Solution makes it easier to pay on time, which enhances the customer relationship."
