Electronic Remittance and Lockbox Services: How Banks Could Create a 4-Way Win


About The Webinar

In an Aite Group survey, 77% of banks cite complexity in capturing non-standard remittance formats from email, email attachments and web portals as the top roadblock to electronic remittance processing services in their cash application process. It is not surprising then that 90% of banks fear that overcoming this barrier would require significant investments to develop an advanced in-house technology solution.

The problem of e-remittance cannot be ignored. The increasing adoption of e-payments continues to exacerbate the complexity with higher e-remittance volumes, and also puts lockbox services and profitability under pressure.

Join us as we explore the technology options that could simplify e-remittance data capture and consolidation with minimal IT and capital requirements, and enhance lockbox service revenue from e-payments.

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HighRadius Integrated Receivables Software Platform is the world's only end-to-end accounts receivable software platform to lower DSO and bad-debt, automate cash posting, speed-up collections, and dispute resolution, and improve team productivity. It leverages RivanaTM Artificial Intelligence for Accounts Receivable to convert receivables faster and more effectively by using machine learning for accurate decision making across both credit and receivable processes and also enables suppliers to digitally connect with buyers via the radiusOneTM network, closing the loop from the supplier accounts receivable process to the buyer accounts payable process. Integrated Receivables have been divided into 6 distinct applications: Credit Software, EIPP Software, Cash Application Software, Deductions Software, Collections Software, and ERP Payment Gateway - covering the entire gamut of credit-to-cash.