Source: Generated Systems
Generated Systems, a leading provider of innovative software solutions for banks, today announced that Union Bank of California N.A., among the top 25 banks in the United States with assets of $50.8 billion, is the first bank to license the Bulk Payment Generator with Accounting System Interface. The bank markets the product as an internet payment feature under the name Wire Import.
Union Bank chose Generated Systems' high volume payment system because the product could be integrated to work seamlessly with Union Bank's current web cash management system. The application is specifically designed to address the needs of Union Bank's power wire users as an alternative entry method. Wire Import has an advanced option to enter payments offline at their customer's site and to submit payments online to the bank in bulk. Wire files can also be imported from the customer's accounting/ERP system and translated into Union Bank's standard format.
"We hand picked Generated Systems because they are the only vendor that can provide the necessary applications to satisfy this needed enhancement to our robust web cash management system," said Betty Pluff, Vice President and Senior Wire Product Manager. "Generated Systems' product provides our valued customers the ability to use their legacy and accounting systems in tandem with our web cash management system, which is a unique solution in today’s market. Additionally, we knew Generated Systems staff had the experience and expertise to produce a solution that would add value to our existing products."
"We are very excited to provide Union Bank with our Bulk Payment Generator and Accounting System Interface," said Edward J. Gainer, President and Co-founder of Generated Systems. "Our products will give Union Bank an edge in the market place because the offline enhancement will ensure that their customers will have continuous access, and the import capability will attract new high volume business. Overall, these new powerful tools will enhance the wire transfer experience for their customers."
The Bulk Payment Generator and Accounting System Interface can be implemented in a variety of ways to best fit a bank's current infrastructure, and can be with or independent from a web cash management system. The product is available for general distribution.