ProfitStars introduced RemitCentral, which complements its RemitPlus Remittance/Lockbox solution by enabling processing of payments from a variety of sources.

RemitCentral  enables both electronic and paper payments to be processed on a single platform by aggregating all payments, and scanning and capturing the images of paper checks and payment vouchers, stubs, envelopes, correspondence, and coupons.

It addresses the challenge shared by financial institutions and their business customers to reconcile payments from multiple sources including online bill pay providers, payment portals, kiosks, auto drafts, rebates, mobile, and mailed-in and walkup payments. This centralized processing solution links the remittance/lockbox with all accounts receivables so electronic and paper payments can be processed on a single platform without manual entry.

David Foss, president of ProfitStars, says, "As innovations in financial technologies continue to increase, the number of ways consumers can pay their bills also grows. The result is greater convenience for the consumer and stronger consumer loyalty to financial institutions and businesses.”

 

 

[This article was posted on May 1, 2012, on the website of ABA Banking Journal, www.ababj.com.]  

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