Gain fast access to cash, reduce cost and improve security with Remittance Processing, Lockbox Services and Check & Deposit Processing Solutions
On behalf of our banking and financial services firms, we deliver check, deposit, and invoice payments processing services 24X7, ensuring that our clients’ corporate customers capture working capital at the earliest possible time, and that their retail customers receive timely check clearing for their transactions, realizing transactional revenue more quickly.
Payment Processing Services
Our integrated Payment Processing Services help put money to work faster and provide enhanced convenience for financial institutions. You can offer payment collection and processing services for your corporate customers by using our wholesale and retail lockbox services.
Remittance Processing and Lockbox Services
If your company is focused on delivering high-quality cash and treasury management services to your client base, our lockbox services are the ideal solution. We provide seamless, single-source remittance processing in key U.S. lockbox markets. Our services also provide the maximum availability of funds while eliminating the need to concentrate funds from multiple banks or consolidate remittance information from multiple locations. We reduce mail float time with our nationwide network of processing facilities strategically located in the top-tier mail collection cities most desired by commercial firms for lockbox processing.
Check and Deposit Processing
Our image-based workflow gives clients faster access to images and payment information and accelerates the cash flow process through:
Amount Entry, Data Entry, Recognition Services and Data Validation: We use “hub and spoke” architecture for our lockbox processing operations. Transaction images are sent electronically from the operational capture site to a data entry site.
- Image Capture: High-speed OCR imaging hardware and software payment technology is used to capture images and data from both sides of each check and remittance.
- Image File Delivery: An XML image file transmission option is available that updates your customer’s internal image archive with data from one or more lockboxes and delivers it to meet your customer’s deadlines.
- Inbound File Consolidation: Allows files of payment information from other sources.
- Receivables Data Files: These provide customers with a single, consolidated payment information file.
- Mail Delivery and Sorting Remittance: Mail is picked up regularly, day, night and weekends from the USPS based on a pre-determined schedule and sorted to unique destinations. (Courier deliveries are also accepted.)
- Receivables Data File Delivery: Transaction data captured from checks and remittance documents is formatted according to customer specific file specifications. The receivables data file transmission updates your customer’s accounts receivable systems.
Check Processing : Day 1, Day 2
- Day 1 Processes: Every day, banks handle a multitude of incoming transaction items for customers — cash and check deposits, bill and mortgage payments, and other transactions. These happen through a variety of channels. The day that transactions come into a bank is defined “Day One.” All Day One transactions must be processed the same day. In order for this to occur, countless things have to happen to ensure that every transaction is processed and posted on the same day. We have expert staff dedicated to each component of the Day One process.
- Day 2 Processes: “Day Two” commences the morning after Day One transactions have officially posted. Several sub-categories are included in Day Two, which encompass both ACH and paper transactions. Our subject matter experts are dedicated to each component of the Day One process.