As the Coronavirus pandemic continues to affect account holders’ financial lives, banks and credit unions are responding to their needs in innovative ways. With unemployment reaching record highs, many account holders are finding themselves unable to meet all of their financial obligations, including loan payments. For some, relief is being made available in the form of financial institution (FI) skip-a-payment programs. FI’s are working hard to provide seamless service in this unusual time.

Frictionless and flexible mobile solutions

As account holders increasingly turn to the digital channel, fully digital experiences aren’t just nice to have, they’re expected. Providing a frictionless experience to enroll in loan skip-a-pay programs should meet these expectations, too. FI staff and account holders alike can benefit from an effort to transform skip-a-pay programs from a burdensome manual process into a flexible and easy digital process that can be completed online or via a mobile device.

Responding with SDK solutions

Software development kit (SDK) solutions can provide FIs with an easy method to offer skip-a-pay programs within their digital banking offerings, allowing FIs to build appropriate workflows while making it easy and painless for account holders to address their financial needs. In doing so, FIs may provide more than simple and flexible solutions; they also will be offering more peace of mind in difficult times.

Additional resources

Learn how the Q2 Caliper SDK can help FIs offer skip-a-pay and other custom interactions for account holders.

To discover resources for helping your FI design and build digital strategies that serve your account holders, read about Q2 Advisory Services.