PYMNTS

MARCH 18, 2020

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.

Lockbox 80

Lockbox Reconciliation Checks Automation 80

PYMNTS

OCTOBER 31, 2019

Take the lockbox, for example. It’s a service designed around the ubiquity of the paper check, and with checks still a popular payment tool in B2B transactions, lockbox services remain in high-demand. Lockbox services may seem outdated in today’s ecosystem of electronic payments and cloud-based financial management platforms.

Lockbox 43

Lockbox Remittance Data Checks RTP 43

PYMNTS

JULY 15, 2020

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.

Credit Union 52

Credit Union Treasury Reconciliation Credit Union Service Organization 52

PYMNTS

JANUARY 22, 2021

In the accounts receivable (AR) function, Franco noted that Nurx implemented lockboxes in order to centralize the receipt of paper checks from insurance companies. The focus is on real-time transactional data, and making sure we take manual processes out of reconciliation.". Prioritizing Data Connectivity.

Lockbox 74

Lockbox B2B Checks Volume 74

PYMNTS

OCTOBER 2, 2019

Kresse attributes this inertia to entrenched processes, both at the enterprise level and within some FIs, especially where lockbox services (including receiving and scanning payments) are large revenue generators. Despite that, there is a better option, as roughly 40 percent of B2B payments are still done by paper checks.

C2B 81

C2B Faster Payments Real Time Payments Lockbox 81

PYMNTS

JANUARY 13, 2021

AI has changed the order-to-cash (OTC) landscape, allowing teams across the various processes to be much more efficient while driving continuous improvement of those processes. He noted that for some collections, an “acceptable timeframe” may be within terms; for others, it may be terms plus 10 days (hypothetically speaking).

Process 94

Process AI Accounts Lockbox 94

Fintech Finance

NOVEMBER 14, 2024

With an increased focus on mobile banking and investments in treasury products, the Bank will continue to expand its offerings in 2025. The remote check deposit service continues to be enhanced in 2024. This service streamlines processes and improves working capital, helping drive stronger end-customer relationships.

Online and Mobile Banking 52

Online and Mobile Banking Product Cash Management Treasury 52