Banked and Unbanked: A Unified Payment Solution
The Challenge: Modern Settlement Administration
Class action settlements distribute billions of dollars annually in the US. Today's administrators face a growing challenge: delivering payments efficiently to both banked and unbanked claimants. Using separate systems for these two groups increases costs and compliance risks. Administrators need a better way to fulfill their duty to reach all class members effectively.
Current Market Limitations
Most payout systems force administrators to choose between serving banked or unbanked claimants. This split approach creates serious problems:
- Longer settlement periods from managing multiple payment systems
- Higher costs from running parallel processes
- More uncashed checks leading to escheatment issues
- Scattered compliance tracking
- Slower reporting and settlement closure
Talli’s Unified Approach
Talli simplifies mass payouts through a single platform. All claimants - banked or unbanked - use one interface to choose their preferred payment method. We offer everything from ACH transfers, prepaid cards and gift cards, combining flexibility with speed and security.
Key Features and Benefits
- Inclusivity: By supporting multiple payout options, Talli ensures that everyone, regardless of banking status, can receive their funds quickly and conveniently.
- Flexibility: Payees can choose how they want to receive their payouts, giving them control over their financial preferences.
- Ease of Use: A streamlined interface makes it simple for businesses to manage payouts and for users to redeem their funds.
- Enhanced Trust: Providing a reliable and unified experience builds trust with payees, improving satisfaction and engagement.
- Scalability: Whether you’re handling hundreds or millions of payouts, Talli’s platform scales effortlessly.
Real-World Impact
Consider a claims administrator handling a large class action settlement. Using Talli, they can pay all claimants through one system, regardless of banking status. This cuts administrative work, speeds up distributions, and improves the experience for everyone involved.
Why Choose Talli?
In today's settlement administration, reaching all claimants effectively isn't optional - it's essential. Talli helps you serve both banked and unbanked populations through one streamlined system, making your operations more efficient and reliable.
Ready to Simplify Your Payouts?
See how Talli can transform your settlement administration process. Visit Talli.ai or schedule a demo today.