PYMNTS

JANUARY 22, 2021

Adding to the headache is the sector's typical burden of a high volume of transactions that flow via legacy and paper-based processes. In the accounts receivable (AR) function, Franco noted that Nurx implemented lockboxes in order to centralize the receipt of paper checks from insurance companies. Prioritizing Data Connectivity.

Lockbox 74

Lockbox B2B Checks Volume 74

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). With electronic payments, a corporation might be left with a tedious reconciliation process. But those trends are on the decline, according to Berdan, as more payments become electronic.

Remote Deposit Capture 63

Remote Deposit Capture RDC Lockbox ACH 63

PYMNTS

FEBRUARY 22, 2017

Horicon Bank and Financial Transmission Network, better known as FTNI, are partnering up to help streamline the accounts receivable process for corporates. Last year, FTNI announced the launch of its upgraded online payment solution, ETran, which supports corporates’ acceptance and reconciliation of credit card and ACH payments.

Remote Deposit Capture 40

Remote Deposit Capture Online and Mobile Banking Automation Lockbox 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

JULY 22, 2019

While these technology firms may approach a business about a particular financial process that could be improved by electronic payables, for example reconciliation or fraud mitigation, this strategy takes a fragmented approach to encouraging digitization that fails to provide a bigger picture for a company, he said.

B2B 57

B2B Reconciliation Checks Lockbox 57

PYMNTS

JANUARY 29, 2020

Offering solutions that promote workflow automation from sourcing through to payment, reconciliation and accounting is not usually part of an FI’s product roadmap. P2P transactional processing is not part of a bank’s DNA,” said Cichy. Unlocking Data to Unlock Value. Banks are rocks,” said Cichy.

P2P 52

P2P Lockbox Payment Reconciliation Value Added Service 52

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

APRIL 1, 2016

For banks, according to an e-book by payments processing firm FTNI, receivables management is a constant juggling act across corporate customers, and their own internal daily ebb and flow of cash flow. Receivables management can be as much art as science. Innovation, said FTNI, is key, but the right type of innovation is even more important.

Remote Deposit Capture 40

Remote Deposit Capture Lockbox Remittance Data Compliance 40