e-lockbx v3 cr€¦ · integrated receivables cloud platform consumer e-lockbox the highradius...
Post on 04-Aug-2020
7 Views
Preview:
TRANSCRIPT
Challenge
Supporting clients with consolidation of their consumer bill payment information requires large amounts of manual work. From gather-ing payment information from multiple bill service providers, to reconciling with custom-er and account level information from the client, banks lose valuable resources and time in offering these services to their clients. Moreover, a manual process poses the risk of inaccurate payment consolidation – a detri-ment for client experience.
www.highradius.com
Integrated Receivables Cloud Platform
Consumer E-LockboxThe HighRadius Consumer E-Lockbox enables banks to offer straight-through consumer bill payment consolida-tion and reconciliation services to their clients by automatically interfacing between clients and multiple bill service providers. Clients of all sizes could benefit from a consolidated view of their bill payments and perform functions such as account number validations, cross-reference matching, reversals and rejections with a bank-powered Consumer E-Lockbox solution.
Solution
The HighRadius Consumer E-Lockbox auto-mates the end-to-end consolidation of payment information from multiple bill service providers while reconciling inputs from the clients to deliver a single output file used to update the clients’ accounting and ERP systems. The HighRadius E-Lockbox solution accepts payment information from any bill service provider, enables the validation of account numbers, automatically corrects an errant account number, and provides the ability to reverse a payment and offers multiple work-flows. The system also generates output files for success and reject/reversed payments to be posted in ERP systems.
Integrated Receivables Platform For Financial Institutions
Automate the collection of consumer bill payments with a single transmission, eliminating the need to manage multiple electronic transmissions from individual vendors that produce different types of payments
Copyright © HighRadius. All Rights Reserved.
Key Features• Compatibility with bill service providers including
FiServ, ACI, FIS and MasterCard RPPS
• Ability to parse and generate all formats of payment information files including RPPS and CheckFree
• Auto-correction of incoming payer information to match client database
• Auto-reconciliation to update payment statuses based on client-provided account-level instructions
• Bank-branded online portal for clients to access consoli-dated payment information and exception handling workflows
• Advanced out-of-the-box reports including Payment Volumes, Rejected Payments and Items and Payment Reversals
Benefits• Single-source processing of all payment sources:
Process payments from all sources including checks, deposits, ACH, Wire transfers and cards covering all B2B receivables payment channels and from consumer bill payments
• Straight-through processing of bill payments: Reconcile company instructions automatically with payment information from multiple bill payment sources to enable straight-through reconciliation at a customer account-level
• High compatibility with bill service providers: Prepare for the future with forward-compatibility with new bill service providers or payment file formats
• Consolidated view of all consumer bill payments: Save time and effort required to switch through multiple bill service provider interfaces to capture and process bill payments
• One-click processing for reversals and rejections: Online user-interface offers advanced functionality to handle payment exceptions and process instructions to initiate payment rejections or reversals
Integrated Receivables Platform For Financial InstitutionsConsumer E-Lockbox
Westlake Four Building200 Westlake Park Blvd., 8th floorHouston, TX 77079281.968.4473info@highradius.com
top related