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For receivables, Berdan noted that larger banks have done well with lockboxes as have smaller banks have with remotedepositcapture (RDC). Corporates are looking for technology to help solve this growing burden of these electronic payments,” Berdan said.
. “Our corporate banking customers no longer see us as just their financial institution but more and more as a trusted partner when it comes to leveraging new technology and solutions across their financial operations.
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, by arming companies of all sizes with technology to digitize check payments, data and workflows, businesses can embrace the benefits of electronic payments without the costs of disruption.
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