Swinton Insurance today announces the purchase and implementation of ALBANYverify (API) to validate all customer bank account details when setting up Direct Debit collections at the first point of data entry.
ALBANYverify (API) will ensure that Swinton Insurance avoids penalty bank charges that can be incurred from inputting incorrect details, which will result in significant transaction cost savings.
ALBANYverify (API) is integrated with Swinton's internal bank validation service systems, operating behind the scenes to ensure that all banking details are correct before they are entered into the system. Joanne Bowden, Business Solutions Manager at Swinton Insurance comments "ALBANYverify (API) runs seamlessly throughout Swinton Insurance, from the website that provides quotes, to the branch system and the internal reconciliation system. By integrating ALBANYverify (API) into the Swinton web service we can ensure that we have an effective, streamlined process within all three major systems to ensure that all bank details are verified."
The purchase of the ALBANYverify (API) solution ensures that Swinton can maximise cost-savings throughout the organisation. Bowden comments, "ALBANYverify (API) provides instant validation of UK bank account details, enabling accurate funds transfers. Using this software, we can now ensure that we avoid extra costs or bank charges associated with invalid account information at the start of the customer relationship." She adds, "ALBANYverify (API) also helps us to minimise potential fraud."
Swinton Insurance provide a wide range of insurance services including; motor, home, travel, business and specialist insurance products. The company has over 3000 employees in 550 branches and over 3 million customers. In order to improve speed and efficiencies across all transaction processes, the organisation required a robust, instant validation system to accommodate a large amount of payment collections.
Swinton purchased ALBANYverify (API) following a successful software trial. Bowden explains, "We were confident in Albany Software as they have proven to be a reliable provider of sophisticated payment software with ALBACS" Bowden continues, "We evaluated other products on the market and found they lacked the functionality that we found with Albany's solution. ALBANYverify (API) was not only simpler and offered at a more competitive rate than the other systems, but all users have easily adapted to ALBANYverify (API), the system requires no intervention, upgrades or changes are easy to implement and support has been readily available."
Bowden concludes, "With ALBANYverify (API) supporting our front end application and ALBACS in the back office sending payments via Bacs we now have a robust and very reliable end to end transactional solution."