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The trend presents a unique conundrum for organizations’ order-to-cash operations, especially when businesses’ own clients continue to pay via paper check : The check may be in the mail, but how can a business apply that cash if there is no one at the office to open it? Lockbox Data Headaches. ” asked Biegel.
CheckAlt , which provides lockbox and treasury management services, has struck a partnership with credit union service organization (CUSO) Tru Treasury to help credit unions attract new members and boost services, a press release says. The partnership touts its ability to work in both paper and electronic services.
Michael Cichy, general manager of the Americas at Palette Software , said FIs continue to face barriers when developing products and services that can compete with agile FinTechs. Offering solutions that promote workflow automation from sourcing through to payment, reconciliation and accounting is not usually part of an FI’s product roadmap.
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