All checks and associated documents scanned remotely automatically
consolidated and processed within single private label lockbox platform
In addition to checks, corporate customers can also remotely scan all accompanying materials such as invoices, coupons, loan documents, applications and envelopes. All scanned items are processed, data captured, archived and, for clients with a lockbox on the
“For many treasury management banks, remote deposit capture is a separate product from lockbox, even though many of the items that pass through these two products are destined for the same place – checks are deposited and corporate clients’ receivables systems are updated to reflect the payment,” said
TransCentra’s private label remote lockbox solution enables users to intuitively step through the scanning process and review captured items. Users receive alerts for any issues or unreleased batches that require attention, and enhanced tracking and search capabilities allow them to quickly access specific transactions as needed.
“Treasury Strategies’ clients are increasingly focused on customer experience as a way to differentiate themselves in the marketplace. Blending traditional RDC and lockbox can remove excess friction within payments for both banks and corporates. Given the prevalence of distributed capture technology, we see this as a very beneficial evolution,” said
Extending lockbox functionality to the desktop adds convenience and efficiency to payment processing for any company that processes wholesale and retail payments, including specialty verticals such as healthcare organizations, homeowners associations and property management companies. The service is available to banks of all sizes as a complement to lockbox, or as a replacement for an existing legacy remote deposit capture application.