ACH vs. Credit Cards: How Faster e-Payments Impact Treasury and Receivables

ACH vs. Credit Cards: How Faster e-Payments Impact Treasury and Receivables

About the Video:

In 2013, a Vice President at a top 10 bank said, “Remittance is not among the things that the corporate treasurer worries about and neither should we.” They could not have been more wrong.

Today, corporates want faster e-payment reconciliation to complement the faster settlement achieved with the proliferation of electronic payment formats including ACH and credit cards. In the absence of suitable bank offerings, corporate clients have moved electronic remittance processing to 3rd party service providers – creating a dent in traditional lockbox service revenue.

In response, banks have adopted ad-hoc strategies – adding more staff, or investing in old school OCR technology – neither of which have helped e-remittance processing develop into a scalable, cost-effective revenue stream.

Speakers:

Jim McShea, VP, Banking Solutions, HighRadius

Jay Tchakarov, VP, Product Management & Marketing, HighRadius