Metavante Biller Solutions Drive Award-Winning Results For Benton Public Utility District
E-bill adoption rates for green-friendly business initiative growing along with customer satisfaction
MILWAUKEE, June 24, 2008 - Metavante (NYSE:MV), a leading provider of banking and payments technology, today announced that Benton Public Utility District (PUD) has successfully implemented its complete electronic bill presentment and payment solution, with award-winning results. Benton PUD supports transmission and distribution of electric energy to more than 45,000 electric customers in Washington State.
Using Metavante's complete electronic bill presentment and payment solution, Benton PUD is now six months into offering its customers a green-friendly e-bill and online payment option called “Power Pay.” Already, Benton PUD has won a 2008 Expanding Excellence Award1, as judged by CS Week and Electric Light & Power. Benton PUD was honored for “Innovation in Customer Service” — an award given based on Power Pay's “innovative approach to improving customer service in the revenue lifecycle.” Metavante's complete electronic bill presentment and payment solution is known as Biller Service Provider, which is part of Metavante Biller Solutions.
Benton PUD also reports the Power Pay initiative has achieved notable e-bill adoption rates. At the six-month marker, Benton PUD has signed up 3,500 customers for e-bills. That number translates into approximately an 8.5 percent adoption rate. Concurrently, customer satisfaction has increased at Benton PUD. In the time since Power Pay has been introduced, customer satisfaction survey results have increased from 77 to 89 percent positive.
“Meeting our customers' expectations to view and pay their bills online, along with reducing accounts receivables expenses were central drivers behind using Metavante solutions to launch Power Pay. Being formally recognized for these efforts validates both our strategy and our choice to go with Metavante,” said Jon Meyer, supervisor of customer systems, Benton PUD. “As for tangible results, we estimated that we would see a 10 percent adoption rate over a five-year period for our Power Pay program, but we nearly hit this number within the first six months of use.”
As part of an initiative to streamline its entire bill distribution process, Benton PUD evaluated the industry's top electronic bill presentment and payment solution providers before selecting an integrated solution from Metavante consisting of Biller Service Provider solution for electronic presentment and payment, as well as its AdminiSource product for statement printing and mail services.
Meyer continued: “Then there was Metavante, an established and successful online bill pay and e-bill provider, which offered a proven printing solution as well. We saw working with Metavante as an opportunity to address our entire bill distribution process with one integrated solution and one experienced provider.”
Benton PUD previously offered its customers the option of Internet-based payments, but by aligning with Metavante, Benton PUD now offers customers e-bills as well, as part of a complete electronic bill presentment and payment solution. In addition to savings realized through fewer stamps per month, per customer, as well as fewer hours spent processing paper payments, Benton PUD has made other improvements.
By implementing Metavante best practices and print solutions, specifically CSF Designer, Benton PUD has redesigned its bills, making them shorter and easier to read, with a resulting benefit of reduced paper costs. On the e-bill side, the tight integration between CSF Designer and Metavante Biller Service Provider solution created another efficiency for Benton PUD as changes made to the paper bill automatically flow into the e-bill—meaning less time spent specifying, communicating and testing the changes. Plus, the e-bill will match the look and feel of the paper version.
“A combination of the technology behind Metavante Biller Solutions and the intellectual capital of Metavante's payments team plays a big role in helping to drive efficiencies and increased customer convenience and payment options for Benton PUD customers,” said Bruce Hopkins, division president, Metavante Acquiring Solutions. “Throughout the implementation and rollout phases, Metavante proved itself a value-added solution provider by offering candid suggestions and best-practice guidance to complement our technology, and drive e-bill adoption. The results at Benton PUD are a practical example of the experience factor Metavante is known for in the marketplace.”
Metavante Payment Solutions delivers electronic money movement through an integrated payments network, including an ATM/PIN-debit network in NYCE, mobile banking and payments, online bill pay, healthcare payment solutions, a suite of payment cards and automated clearing house (ACH) processing. Metavante can help clients grow revenue by capitalizing on the expanding electronic payments markets, including financial, healthcare and government payments. Metavante offers clients the efficient and integrated resources necessary to offer their customers a broad range of payment options and touch points.
About Benton PUD
Benton PUD, a municipal corporation of the state of Washington headquartered in Kennewick, Washington, was established in 1946. Today, Benton PUD supports transmission and distribution electric energy to more than 45,000 electric customers covering more than 900 square miles of service territory. Benton PUD manages 36 substations, approximately 89 miles of 115 kV transmission line and 1468 miles of distribution lines, and nearly 60 miles of fiber optic cables.
Metavante Technologies, Inc. (NYSE:MV) is the parent company of Metavante Corporation. Metavante Corporation delivers banking and payments technologies to over 8,000 financial services firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer, consumer healthcare payments, electronic presentment and payment, business transformation services, and payment network solutions including the NYCE Network, a leading ATM/PIN debit network. Metavante (www.metavante.com) is headquartered in Milwaukee.
1 '2008 Expanding Excellence Awards Reflect Diverse Projects and Stunning Results,'CS Week Newsline, July, 2008.