PSCU, Allied Solutions Team On Delinquency Management

Credit union service organization PSCU has partnered with Allied Solutions in order to give financial institutions the option of single-source delinquency management and support, according to a press release emailed to PYMNTS.

The end-to-end payments and collections partnership includes first- and third-party collections solutions, and will offer risk management and other such solutions.

Allied, which provides insurance, lending and marketing products for financial institutions, has been in the business for over 40 years.

The release says Allied Solutions is working on helping its base of over 4,000 clients grow or enhance their bottom lines, protect businesses and consumers and stay in business, evolving past the competition.

In PSCU, Allied has found a delinquency management solutions partner that will help it allow for efficiencies and scale, while also managing risk.

“We know that collections will look very different across the financial services and credit union industries as a result of the COVID-19 pandemic. As such, we wanted to ensure our clients are as prepared as possible for this new reality,” said Pete Hilger, CEO and president of Allied Solutions.

Starting this month, PSCU will offer Allied clients access to its delinquency management solutions, including a number of early- and late-stage collection services and training, through its CU Recovery & The Loan Service Center. Those solutions will help financial institutions make sure collections and communications are up to date, and will help improve financial outcomes for borrowers, cutting losses with its “highly experienced” collections-focused team, the release says.

Credit unions (CUs) are especially in tune with picking the best kinds of digital services, as while members are often more satisfied with CUs than other banking customers are with their own financial institutions, dissatisfied CU customers can be twice as likely to think their CUs are coming up short on banking options.

A study done by PYMNTS and PSCU found that CU members often don’t see things like mobile wallets as important as features like anti-fraud solutions or loyalty and rewards innovations.