Greater flexibility in payments in the insurance sector
Mussala Insurance Broker & IRIS Pay
Case Studies / Sofiyska Voda and IRIS Pay
How innovation is transforming the customer experience
Name
Borislav Georgiev
Position
Commercial Director
Company
Sofiyska Voda AD
Company website
www.sofiyskavoda.bg
Sector
Utilities
The leading water utility operator in Bulgaria - Sofiyska Voda AD - has always been committed to implementing modern solutions that benefit its customers. In 2021, the company partnered with IRIS Solutions to integrate the innovative digital payment method IRIS Pay.
"I recommend IRIS Pay to all water utility operators as a way to improve their services by providing customers with modern, convenient, and secure options for paying their water bills."
Borislav Georgiev
Commercial Director, Sofiyska Voda AD
Sofiyska Voda is also the first utility company in the country to offer the convenience of open banking through IRIS Pay.
- The problem
Challenges before IRIS Pay
Until 2021, the company relied mainly on traditional payment channels, which resulted in:
Higher transaction service fees
Slower processing and clearing
Limited digital payment options
- The solution
Modern digital channels
IRIS Pay was implemented across several key areas, and the integration required only a few working sessions thanks to the high expertise and flexibility of the teams.
integrated into the “My Water” website and mobile app
in water e-invoices
in paper invoices
- The results
Lower costs and happier customers
After implementing IRIS Pay, Sofiyska Voda reports:
Optimized payment processing costs
Improved customer experience
Higher security for customers
Faster payment processing
Expansion of digital payment channels
+12% growth in payments through digital channels
- Reviews
Modern digital channels
IRIS Pay was implemented across several key areas, and the integration required only a few working sessions thanks to the high expertise and flexibility of the teams.
Customer reaction
“Extremely positive, with the most valuable aspect being the convenience of faster, direct payments without the need to enter card details. Clear communication about the advantages and security of the method is key, as younger and more tech-savvy users adopt it more easily, while older customers need a bit more time to get used to it.”
Time saved and added value
IRIS Pay is becoming a tool for improving the customer experience:
“IRIS Pay mainly saves time for our customers by offering them an improved experience when using the services of Sofiyska Voda. This, in turn, has a positive impact on all customer service processes.”
Recommendation for the sector
“I recommend IRIS Pay to all water utility operators as a way to improve their services by providing customers with modern, convenient, and secure options for paying their water bills.”
„IRIS Pay is a remarkable example of modern innovation, embodying our commitment to simplifying complex processes while raising the standards of security and accessibility."
Borislav Georgiev
Commercial Director, Sofiyska Voda AD
- Case Studies