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For receivables, Berdan noted that larger banks have done well with lockboxes as have smaller banks have with remotedepositcapture (RDC). With electronic payments, a corporation might be left with a tedious reconciliation process.
Horicon Bank will now offer its corporate clients RemoteDepositCapture, online payments, single and recurring ACH payments, mobile payments, credit card payments and lockbox processing solutions powered by FTNI.
The historically fragmented nature of disparate services and payment solutions, ranging from credit cards to ACH to mobile payments to lockbox and remotedepositcapture is a driving force in corporate banking clients’ desire for truly integrated receivables solutions.
This is unacceptable — especially today with AR and AP teams already managing an immense sense of disruption in remote working environments. Rather, a more effective strategy can be to actually support corporates’ check payment operations while digitizing key components. “It really minimizes the disruption.”
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