PYMNTS

MARCH 18, 2020

Lockbox Data Headaches. While working from home can present a major challenge for AR teams receiving checks in the mail, Biegel noted that more often, businesses are accepting these payments via banks’ lockbox services. Automating Lockbox Data – And Beyond. “The work from there is, what do you do with the exceptions?

Lockbox 80

Lockbox Reconciliation Checks Automation 80

PYMNTS

MARCH 30, 2020

Many companies rely on a bank/service provider to handle outsourced lockbox processing. And, in many cases, the FinTech has customers that still use a lockbox, but they still have some centralized operation that receive checks. And they now have complications in terms of their workforce (i.e., remote work) layered on to that process.

Lockbox 60

Lockbox FinTech Payer Push-to-Card 60

PYMNTS

OCTOBER 22, 2020

In an effort to address the friction of paper checks, Citizens Bank & Trust is collaborating with CheckAlt to launch lockbox and corporate treasury services. Citizens had previously processed lockbox payments in-house, but will now use CheckAlt to batch, scan, process and deliver check payments. “We

Lockbox 79

Lockbox Small Business Checks Addressing 79

PYMNTS

FEBRUARY 2, 2021

Apollo Bank Adopts CheckAlt Lockbox Technology. The bank recently announced a partnership with CheckAlt to adopt its lockbox technology, allowing corporates to automatically accept, process and reconcile check payments. PNC Acquires Tempus Technologies.

Lockbox 57

Lockbox FinTech Treasury Management Payment APIs and Integration 57

PYMNTS

JULY 5, 2019

Companies in the business-to-consumer (B2C) space have historically relied on lockbox processing through a bank – or a series of banks, depending on their size. If they are using the bank lockbox, some of the information coming through that channel might not arrive until late in the day or the next day.

B2C 46

B2C Lockbox ACH IRS 46

PYMNTS

JANUARY 10, 2018

Wag Labs is in the doghouse with its customers after accidentally exposing web pages that revealed such information as client addresses and lockbox codes. The company provides customers with a lockbox for their keys, and walkers are then given the code to enter so they can pick up the dog.

Data Breach 43

Data Breach Breach Lockbox Social Security 43

PYMNTS

SEPTEMBER 18, 2018

When it comes to treasury market offerings, banks have historically started wholesale and retail lockbox businesses. But, as payment types and payment channels have grown to become more electronic, the amount of lockbox payments is declining rapidly.

Lockbox 68

Lockbox FinTech Payer ACH 68

Fintech Finance

NOVEMBER 14, 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

PYMNTS

OCTOBER 22, 2020

For Billtrust, that meant the creation of a digital lockbox to consolidate the collection and integration of reconciliation data, as well as the development of its Business Payments Network, which allows firms to efficiently view their business partners' preferred ways to pay and get paid. But further education is needed, said Lane.

B2B 89

B2B Lockbox Remittance Data Payments 89

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. Like so many other organizations, B2B payments strategies had to be adjusted with personnel who were unable to physically work in an office space to send and receive paper checks.

Lockbox 74

Lockbox B2B Checks Volume 74

PYMNTS

OCTOBER 25, 2019

While treasury management has always been a critical component of bank offerings, most treasury management solutions today are limited to lockbox processing. The net of all that, Berdan says, is that corporations today are finding that traditional lockbox services are inadequate.

Lockbox 40

Lockbox Treasury Management Treasury Wire Transfer 40

PYMNTS

JANUARY 31, 2018

The company then provides customers with a lockbox for their keys, and walkers are given the code so they can pick up the dog. Then, earlier this month, it was revealed that information such as client addresses and lockbox codes was accidentally exposed on the company’s web pages.

Lockbox 41

Lockbox Origination Addressing Security 41

PYMNTS

APRIL 7, 2020

The program can be used for everything from intercompany transactions, accounts payable and receivable, travel and entertainment (T&E) reporting, bank clearing and lockbox to general ledger cash accounts. The Transaction Matching software goes hand-in-hand with OneStream’s existing Account Reconciliation.

Reconciliation 56

Reconciliation Accounts Automation Lockbox 56

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

DECEMBER 27, 2018

For receivables, Berdan noted that larger banks have done well with lockboxes as have smaller banks have with remote deposit capture (RDC). But those trends are on the decline, according to Berdan, as more payments become electronic. With electronic payments, a corporation might be left with a tedious reconciliation process.

Remote Deposit Capture 63

Remote Deposit Capture RDC Lockbox ACH 63

PYMNTS

FEBRUARY 4, 2020

Historically, businesses would submit paper checks stapled to a stack of invoices, or wield check lockbox services that, while inefficient, could at least clarify which transactions were to be applied to which invoices. Data’s Favorite Payment Rails.

Commercial Card 61

Commercial Card Lockbox Reconciliation ACH 61

Fintech Finance

APRIL 26, 2024

The suite enables: Digital payments Cash management Expense management A/R automation AP management Smart lockbox services Direct deposit management “We are well on our way to a DeFi revolution – and it’s already happening without you realizing it,” said Almond. You’re already a participant because if you do business in the U.S.,

B2B 52

B2B Acquirers Payments Lockbox 52

PYMNTS

NOVEMBER 4, 2020

In the middle stand the lockboxes and processing facilities run by banks like J.P. Drill down a bit and getting rid of the check translates into cost savings on both sides of the equation — for the company making the payment, and the company receiving it. (In Digitization, said Farooq, takes a lot of waiting time out of the system.

Blockchain 131

Blockchain Cross-Border Payments Cross-Border Real Time Payments 131

PYMNTS

MARCH 1, 2018

Trumbull believes early companies used to store keys in lockboxes. As a result, the company developed a technology that combines a lockbox with a GPS tracker and an online booking platform. In a way, the technology is back to the future: Car shares started off with lockboxes, after all. The Technology.

Lockbox 40

Lockbox Technology Returns Economy 40

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

OCTOBER 23, 2020

And with Boost’s “virtual card lockbox” STP platform, there is no need for buyers or suppliers to share bank account information. [We] reported both to the supplier in their format and to the buyer in their format.”. You're virtually unlimited as to the amount of data that can accompany [a commercial card] transaction,” Leavitt said.

Commercial Card 82

Commercial Card Push-to-Card Lockbox Wires 82

PYMNTS

NOVEMBER 23, 2018

To get around the law, local officials decided to put those wishes into lockboxes, but “that was made redundant in May, when the European Union’s General Data Protection Regulation (GDPR) came into force,” the report said. The festive event was seen as a major highlight for local kids.”.

Privacy 46

Privacy Laws Lockbox Regulations 46

PYMNTS

DECEMBER 11, 2020

The days of managing partners buying into the physical lockbox, counting checks and trying to deposit them are waning," he said. "We Adams noted that the sector is making progress, but there is still a long way to go.

Accounts 89

Accounts Lockbox Automation Checks 89

PYMNTS

JANUARY 13, 2021

Companies may push back on the cost of new tech deployments but eventually can begin to ramp up the transition (conversion, really) to electronic payment methods from lockboxes and checks. “The process overall is typically overlooked as a necessary evil, and it's not usually viewed as an opportunity,” Shields explained.

Process 94

Process AI Accounts Lockbox 94

PYMNTS

DECEMBER 10, 2019

Unlocking the Lockbox. And with CaaS factored in you get things like auto decisioning on credit lines, with real-time application review and a decision in under 30 seconds for credit lines up to $250,000. A slew of helpful integrations and purchase controls for role-based access also become possible with this approach.

Payment APIs and Integration 52

Payment APIs and Integration CRM Lockbox Automation 52

PYMNTS

OCTOBER 19, 2018

Yet, all too often, when mobile phones run out of juice, consumers have to camp out by a wall outlet or seal their phone away in a lockbox charging station. Keeping smartphone-wielding consumers happily ordering coffee and swiping into cashier-free stores means keeping their mobile devices well-charged.

Lockbox 62

Lockbox Automation Bots Returns 62

PYMNTS

APRIL 30, 2020

In addition to its new cash application capabilities, accounts receivable technology provider Invoiced recently announced a virtual lockbox solution aimed to address the friction of paper checks.

Innovation 73

Innovation Global Payments Cross-Border ACH 73

PYMNTS

FEBRUARY 22, 2017

Horicon Bank will now offer its corporate clients Remote Deposit Capture, online payments, single and recurring ACH payments, mobile payments, credit card payments and lockbox processing solutions powered by FTNI.

Remote Deposit Capture 40

Remote Deposit Capture Online and Mobile Banking Automation Lockbox 40

PYMNTS

JANUARY 30, 2020

In Palette’s case, that meant the recent launch of a purchase-to-pay solution that banks can white label for their own corporate customers, a solution that Cichy told PYMNTS in a recent interview emphasizes the ability to integrate that P2P data with other back-office services for corporates, while also enabling FIs to unlock that P2P data for additional (..)

Use Case 64

Use Case Payment APIs and Integration FinTech Payroll 64

PYMNTS

APRIL 16, 2020

With personnel working from home, this company could no longer cut and send checks to pay suppliers because AP staff couldn’t access the checks stuck in a lockbox in the office. Take one Tipalti client, which, Amit recalled, was forced to overhaul supplier payment practices after using checks for so long.

Finance 75

Finance Automation Lockbox Checks 75

PYMNTS

OCTOBER 29, 2020

He pointed to Deluxe’s own AR solution that can be embedded in enterprise resource planning (ERP) systems, where modules can be added to manage lockbox or other solutions. That software platform today, on an outsourced basis or with people using that software themselves, is processing about $2.8 economy.

Checks 78

Checks B2B Payments C2B 78

PYMNTS

JANUARY 29, 2020

Cichy also pointed to additional bank solutions, like lockbox operation, payment processing and commercial card offerings, into which Palette’s P2P solution is linked, promoting cohesion in banks’ corporate offerings. Historically, opportunities to wield this kind of data have been limited for traditional FIs.

P2P 52

P2P Lockbox Payment Reconciliation Value Added Service 52

PYMNTS

NOVEMBER 19, 2019

To get around the law, local officials decided to put those wishes into lockboxes, but “that was made redundant in May, when the European Union’s General Data Protection Regulation (GDPR) came into force,” the report said. The festive event was seen as a major highlight for local kids.”.

Privacy 40

Privacy Lockbox Laws Addressing 40

PYMNTS

MAY 7, 2020

According to Reed, Deluxe’s lockbox services process $2 trillion worth of paper check payments every year, and there is no silver bullet to transitioning that volume to electronic payment method all at once. “It really minimizes the disruption.”

Checks 67

Checks B2B Payment APIs and Integration Remote Deposit Capture 67

PYMNTS

JANUARY 9, 2019

In addition, said Cohen, the newly acquired firm helps government clients with everything from creating bills to operating lockboxes (where payments and remittances, in both paper and digital form, are sent directly to banks), to fielding phone calls from consumers. First Billing said its client base has grown from 500,000 to more than 2.3

ISVS 63

ISVS Government Governance ISOs 63

PYMNTS

JUNE 24, 2016

But an interesting question was posed: Are lockbox operations an obvious target for receivables disruption? With a much higher match rate and reducing the need of the lockbox fees, Jordan said a solution that interfaces with both the ERP and the file from the bank can improve posting times and data quality.

Lockbox 43

Lockbox Automation Push-to-Card Credit Cards 43

PYMNTS

JULY 22, 2019

But as is often the case in B2B payments, the AP world’s relative satisfaction with checks — despite their many drawbacks — might be chalked up to, “You don’t know what you don’t know.”.

B2B 57

B2B Reconciliation Checks Lockbox 57