Lockbox & Payment Processing Services

Remittance Processing and Lockbox Services

If your company is focused on delivering high-quality cash and treasury management services to your client base, our lockbox services are the ideal solution. We provide seamless, single-source remittance processing in key U.S. lockbox markets. Our services also provide the maximum availability of funds while eliminating the need to concentrate funds from multiple banks or consolidate remittance information from multiple locations. We reduce mail float time with our nationwide network of processing facilities strategically located in the top-tier mail collection cities most desired by commercial firms for lockbox processing.

Check and Deposit Processing / Lockbox Services

Our image-based workflow gives clients faster access to images and payment information and accelerates the cash flow process through:

Amount Entry, Data Entry, Recognition Services and Data Validation: We use “hub and spoke” architecture for our lockbox processing operations. Transaction images are sent electronically from the operational capture site to a data entry site.

• Image Capture: High-speed OCR imaging hardware and software payment technology is used to capture images and data from both sides of each check and remittance.
• Image File Delivery: An XML image file transmission option is available that updates your member’s / customer’s internal image archive with data from one or more lockboxes and delivers it to meet your their deadlines.
• Inbound File Consolidation: Allows files of payment information from other sources.
• Receivables Data Files: These provide members/customers with a single, consolidated payment information file.
• Mail Delivery and Sorting Remittance: Mail is picked up regularly, day, night and weekends from the USPS based on a pre-determined schedule and sorted to unique destinations. (Courier deliveries are also accepted.)
• Receivables Data File Delivery: Transaction data captured from checks and remittance documents is formatted according to customer specific file specifications. The receivables data file transmission updates your customer’s accounts receivable systems.

Banking Back Office Operations

Every day, banks and credit unions handle a multitude of incoming transaction items for customers or members — cash and check deposits, bill and mortgage payments, and other transactions. These happen through a variety of channels. Our Banking Back Office Operations can manage all these critical functions to ensure that every transaction is processed and posted according to your policies and procedures. We have expert staff dedicated to each component of the process. In addition, we can handle the behind-the-scenes functions critical to banking operations such as keying; balancing; research; new-account processing; returns and adjustments processing; reviews; transaction processing and account servicing to allow you to focus on growing your margins.

What are Day 1 vs Day 2 Operations?

• Day 1 Processes: Every day, banks and credit unions handle a multitude of incoming transaction items for customers or members — cash and check deposits, bill and mortgage payments, and other transactions. These happen through a variety of channels. The day that transactions come into a bank is defined “Day One.” All Day One transactions must be processed the same day. In order for this to occur, countless things have to happen to ensure that every transaction is processed and posted on the same day. We have expert staff dedicated to each component of the Day One process.
• Day 2 Processes: “Day Two” commences the morning after Day One transactions have officially posted. Several sub-categories are included in Day Two, which encompass both ACH and paper transactions. Our subject matter experts are dedicated to each component of the Day One process.