Onbe and Allied Solutions Partner to Modernize Automotive Refund Process

Strategic Insights -

Onbe, a leading corporate payouts platform, has partnered with B2B financial services provider Allied Solutions to help financial institutions and finance companies modernize the automotive refund process. The partnership combines Onbe's digital payouts gateway with Allied Solutions' Refund Plus(r) solution, offering comprehensive support for issuing refunds following the cancellation of aftermarket products. This integration streamlines operations, reduces cost and compliance risk, and delivers a modern, choice-driven refund experience for borrowers.

Key Takeaways:

  • Onbe's digital payouts gateway will be integrated with Allied Solutions' Refund Plus(r) solution to provide a comprehensive support for issuing refunds.
  • The partnership will help lenders reduce operational burden by reducing manual work related to exceptions and unclaimed property handling.
  • Clients will have access to faster payment delivery with built-in audit trails, allowing them to stay ahead of evolving regulations.
  • Borrowers will benefit from a faster, more transparent digital-first refund experience aligned with how they pay.
  • Recipients will have the option to choose from virtual cards with mobile wallet provisioning, popular payment apps, or ACH and other legacy payment options when required.
  • 88% of auto finance consumers prefer digital payouts over checks, making digital refunds more efficient and improving customer satisfaction.
  • The partnership enhances Allied Solutions' existing solution with additional tools, capabilities, and payment choices to help clients prepare for evolving regulations.

Statistics:

  • 88% of auto finance consumers prefer digital payouts over checks.
  • The partnership aims to reduce operational burden and manual work related to exceptions and unclaimed property handling.
  • The integration of Onbe's digital payouts gateway with Allied Solutions' Refund Plus(r) solution will provide a faster payment delivery experience with built-in audit trails.

Sources:

  • Onbe (2023)
  • Allied Solutions (2023)