• Study of utility customers links e-bills to on-time payments, increased online self-service and reduced customer service calls
• Study shows that bank e-billing does not “cannibalize” visits to company websites
• Distinct customer segments use different billing and payment channels

Fiserv today announced results of a study of Con Edison customers that shows offering electronic bills through online banking or the company’s website can lead to enhanced cash flow and reduced customer care costs. Con Edison, a subsidiary of Consolidated Edison, Inc. (NYSE: ED) is one of the nation’s largest investor-owned energy companies and provides electric, gas and steam service to more than three million customers in New York City and Westchester County, New York. The study shows that customers who receive electronic bills (e-bills) via a financial institution or the Con Edison website are more likely to make on-time payments, and utilize online self-service rather than costly customer service calls.

Conducted by AccuData on behalf of Fiserv, the study analyzed two million customer records with a focus on three customer segments: those receiving paper bills, those receiving e-bills via online banking and those receiving e-bills at the Con Edison website. The research compared the three groups’ customer service channel use and payment timing. The study found that e-bill use had correlations with:

• Frequent On-Time Payments: Customers receiving e-bills via online banking were 22 percent more likely to make on-time payments and customers receiving e-bills at ConEd.com were 6 percent more likely to make on-time payments, when compared to paper bill recipients. Banking sites offer due-date reminders which may help customers pay their bills on time.
• Reduced Customer Service Calls: Customers receiving e-bills via online banking were 64 percent less likely to call live customer service per month and customers receiving e-bills at ConEd.com were 39 percent less likely to call, when compared to paper bill recipients.
• High Online Self-Service Engagement at ConEd.com: On average, customers receiving e-bills via online banking or the Con Edison website conducted 1.57 and 1.37 registered self-service visits per month at ConEd.com, respectively. In contrast, paper bill users performed such activities 0.71 times per month. Bank-delivered e-bills provide links driving customers to ConEd.com for usage activity and billing history information.

In addition to payment and customer service habits, the study identified demographic and psychographic characteristics of each of the major billing and payment usage segments. This includes electronic, paper and in-person channels. The findings validate the need to offer a broad range of billing and payment methods, as different customer segments gravitated toward different payment types.

Below, you will find the press release announcing our free check guarantee and payment solutions consultation to companies in the furniture industry. The release received wide distribution earlier today thanks in large part to the fact that NCT’s free consultation offer comes at a time when many companies are looking for ways to improve their cash flow situation. In addition to many industry journals and publications, here are a few of the sites publicizing the latest NCT announcement:

• NCT Offers Free Check Guarantee and Payment Solutions Consultation to Furniture Industry – (MarketWatch via Business Wire)
• NCT Offers Free Check Guarantee and Payment Solutions Consultation to Furniture Industry — (EarthTimes.org)
• NCT Offers Free Check Guarantee and Payment Solutions Consultation to Furniture Industry — (Yahoo! Finance)

Here is the complete press release:

NATIONAL CHECK TRUST, INC. OFFERS THE FURNITURE INDUSTRY FREE CONSULTATION GUARANTEED TO DRAMATICALLY IMPROVE CASH FLOW

MIRAMAR, Florida – May 14, 2009 — National Check Trust, Inc. (NCT) has been the premier check guarantee and payment solutions provider to the furniture industry since 1991. Since late 2007, when the industry began its downward trend and faced new economic challenges, NCT’s clients turned again to the company they trust to help them decrease cost and increase cash flow. One of NCT’s immediate responses was to give many of their clients a gifted back credit at the end of 2008.

“In response to the crisis, NCT is also taking things a step further in offering a no-cost, in-depth consultation to the industry at large,” said Jeanine Goodstein, Vice President of Sales & Marketing for NCT. “As the furniture specialist, we’re deeply committed to this industry and recognize that we are all in this together. We want to offer support to every company in the business, not just our own client base,” she continued.

National Check Trust, Inc.’s business model was designed specifically to maximize revenue and minimize risk. “We analyze how payments are processed and at what cost. We review your account and make specific recommendations that will help to cut costs, identify lost revenue and/or increase cash flow,” said Ms. Goodstein.

According to ongoing Nilson Reports, National Check Trust, Inc. is one of the largest check guarantee and payment solution providers in the country and is the only company to create programs to meet the unique demands of the industry.

NCT has a proven track record for a high level of customer service and has demonstrated a commitment to each of its clients.
For further information on the free consultation and to find out how NCT can help impact your bottom line, contact Alan Gartner at 800.858.5256, ext. 438. To learn more about NCT, go to www.nctinc.net.

“In response to the crisis, NCT is also taking things a step further in offering a no-cost, in-depth consultation to the industry at large,” said Jeanine Goodstein, Vice President of Sales & Marketing for NCT. “As the automotive specialist, we’re deeply committed to this industry and recognize that we are all in this together. We want to offer support to every company in the business, not just our own client base,” she continued.

National Check Trust, Inc.’s business model was designed specifically to maximize revenue and minimize risk.

“We analyze how payments are processed and at what cost. We review the account and make specific recommendations that will help to cut costs, identify lost revenue and/or increase cash flow,” said Ms. Goodstein.

According to ongoing Nilson Reports, National Check Trust, Inc. is one of the largest check guarantee and payment solution providers in the country and is the only company to create programs to meet the unique demands of the automotive industry.

NCT has a proven track record for a high level of customer service and has demonstrated a commitment to each of its clients.

For further information on the free consultation and to find out how NCT can help impact your bottom line, contact Jeanine Goodstein at 800.858.5256, ext. 208. Follow the link to navigate back to our homepage and learn more about NCT.