Delivering for our clients at scale
Efficiently capture working capital
In today’s unpredictable environment, quick access to working capital is critical for corporate banking customers. Our robust wholesale and retail lockbox services provide banks and financial institutions with reliable, 24/7 payment processing powered by advanced technology ensuring rapid collection, accurate handling and secure long-term archiving to accelerate remittance processing.
*Source: PYMTS Intelligence Report, 2024
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Expedite cashflow
Help your corporate customers put funds to work faster with high-efficiency payment processing.
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Reduce costs
Address rising costs head-on with a scalable, reliable, value-driven remittance infrastructure.
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Secure payments
Safeguard transactions with robust technology and stringent data security and compliance protocols.
Partner with a lockbox leader
With more than 20 years’ experience in remittance processing, Conduent excels at lockbox services — helping financial institutions ensure quality cash and treasury management for their corporate clients to gain fast access to working capital.
Our teams have managed thousands of lockbox migrations and handle high-dollar deposit transactions averaging billions of dollars per month.
Lockbox Services: Commonly asked questions
At Conduent, we understand that navigating the complexities of remittance payments and lockbox services can be challenging. Explore answers to some frequently asked questions and learn how these processes can help streamline your payment operations.
What is a remittance payment?
In lockbox processing, a remittance payment is a sum of money sent from one individual or entity to another, often used to settle invoices, bills or transfer funds internationally.
What is the process of remittance in a bank?
The lockbox process involves a sender initiating a payment, the bank processing the transaction and the recipient’s bank receiving and crediting the payment to the recipient’s account.
How do lockbox services work?
Lockbox services involve a third-party provider collecting payments on behalf of a business. The provider receives payments, processes checks and deposits funds directly into the business’s account.
What is wholesale lockbox processing?
Wholesale lockbox processing is a service tailored for businesses that deal with payments, often in large denominations. It helps streamline the collection and processing of these payments.
What are the benefits of lockbox services?
Lockbox services can accelerate payment processing, improve cash flow, reduce processing errors, enhance security and free up internal resources for businesses.
What are the different types of lockboxes?
There are retail lockboxes (catering to individual payments) and wholesale lockboxes (focused on business payments), both designed to streamline payment handling for various types of organizations.