Business to Business Remittance Processing

 

The premise of our Remittance Processing solutions is to AUTOMATE the handling of your payments whether they are standard personal/corporate checks, money orders, cashier’s checks, list payments, online payments, etc.

Utilizing industry renowned check imaging transports such as Opex, Canon, Burroughs, NCR, etc. alongside our innovative payment software, RTLFiRST, will allow optimization of customer labor & quicker handling of payments without compromising the integrity and accuracy of your deposits. Payments that are flagged for review allow operators to utilize a user friendly platform that allows for easy viewing of payment images for easy decision making.

Exception Payment Handling

The handling of clean check payments is standard. The complexity and labor are most often tied to exception payments that aren’t as straightforward such as: electronic check payments, check/money orders, list payments, late payments, etc. The way you handle these exception payments will determine if your current processing operation is running optimally. Your remittance operation is only as strong as how you effectively handle the most challenging of payments alongside your standard payments.   Our “exception” payment handling capabilities built into our RTLFiRST payment processing software allows an improved handling of payments that traditionally required additional pre-sorting and/or operator labor and handling.

List Payment Handling

If you process list payments, your organization may continue to be manually handling these payments or line-item validating each payment/payer on these lists. We have a scalable solution whether you handle only a small amount of these payments or exclusively handle hundreds of list-type payments daily. Our client partners have voiced how laborious these payments can be. Our solution was designed to automate the handling of these payments by utilizing recognition technology to automatically parse out, sort out data and validate balances from these lists to create a more automated reconciliation of these payments. The software does the work, not your operators.

Electronic Checks

More and more customers are paying their payments online which means that you may be getting a number of check remittances in the form of electronic checks. More often than not, these checks are riddled with misinformation and missing data. Our platform has the ability to improve the handling of these payments by pre-scrubbing this information to identify all these e-checks and validate it against your hotfile or database to ensure that the proper payer is credited.

Money Order Handling

Our platform has the ability to process and create high quality images of your check and money orders which then is processed and analyzed by our platform for processing. Our platform has the ability to identify if account information is listed on the money order or cashier check and cross validate the information against your stub or datafile/database to ensure accurate reconciliation.

We have a variety of customer specific enhancements when handling exception payments that take into account your specific environment processing rules (i.e.: Over & short handling, late payment processing, etc.) that create a more unique semi environment to your operation to handle standard/exception payments with ease.

To find out who our exception handling processes have helped organizations like yours, contact us today! We have provided solutions for many agencies across various industries and have automated and improved remittance processing operations throughout the US and Canada for over 25+ years.

Find out how we can reduce your overhead, optimize your workforce and speed up your overall operations.

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