Lockbox & Remittance Processing

Even in today's world of mobile banking, online bill pay, and paperless billing, there are still a large number of consumers who pay their bills the "old fashioned" way – walking into the biller's local office or mailing a check to a remote lockbox location. This process is very costly, and involves the handling checks and related payment documents at a distributed or remote office, followed by transportation of these items to a centralized location for processing. This can result in lost or misdirected payments with the associated consequences of increased customer service center call volumes and reduced customer satisfaction.

A multi–format capture device helps eliminate these issues. These devices image checks and full-size documents to enable capture of all payments data including coupons, envelopes, correspondence, invoices, or other documents related to the customer payment transaction. All documents are imaged on the same device, allowing an efficient method to digitize important accounts receivable information.

A cost effective, multi–format capture device can help automate the process and assist in more accurately applying payment information to the correct customer account while expediting accounts receivables and minimizing the number of posting files.

 

Products for this application