24 March 2018
visit www.nextgenbanking.co.uk

BB&T partners Wausau to provide integrated image lockbox system

07 December 2004  |  705 views  |  0 Source: BB&T Corporation

BB&T Corporation (NYSE: BBT) today said it has partnered with Wausau Financial Systems to update and enhance BB&T's receivables management solutions for its wholesale, "wholetail" and retail lockbox clients.

With ImageRPS, BB&T will be one of only a few treasury services providers in the country to use a single platform that will support both consumer and corporate payments.

A growing number of companies have receivables invoice documents that are a mix of traditional wholesale "invoice" payments and classic "check /OCR coupon" retail payments (also called wholetail payments). Image RPS relies on sophisticated image and payment processing technology and powerful software to provide advanced capabilities for payment processing.

Image RPS will enable BB&T's lockbox customers to retrieve intraday check images and associated remittance documents through an Internet-based image retrieval system. It will offer clients significant administrative and research efficiencies in managing receivables with their trading partners.

"Our selection of Wausau's ImageRPS demonstrates BB&T's commitment to listen to the customer and implement service-driven solutions," said F. Abbott Whitney Jr., executive vice president and head of Treasury Services at BB&T. "As a result, accelerated cash collections, timely notification of receivables data, and easy access to images and data are at the core of BB&T's Lockbox Service."

ImageRPS also will enhance BB&T's reputation as a consistent provider of high quality remittance processing services.

"BB&T is excited about taking our lockbox solution to a level unsurpassed by our competitors," said Karen Lloyd, senior vice president and head of BB&T's Treasury Services Operations. "Wausau's superior lockbox solution coupled with the highest quality in the industry is a force multiplier we can't wait to extend to our client base."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euVisit www.nextgenbanking.co.ukRegister your place today

Top topics

Most viewed Most shared
hands typing furiouslyBitcoin at 50,000 USD?
14570 views 0 | 8 tweets | 5 linkedin
BBVA tests 'invisible payments' technology at inhouse cafeBBVA tests 'invisible payments' technology...
11998 views comments | 16 tweets | 35 linkedin
RBS hatches plan to create digital challenger bankRBS hatches plan to create digital challen...
11599 views comments | 12 tweets | 23 linkedin
Barclays partners seven watch brands for contactless timepiecesBarclays partners seven watch brands for c...
10575 views comments | 14 tweets | 31 linkedin
Germany's N26 readies for US launch with EUR110 million capital injection led by Allianz and TenCentGermany's N26 readies for US launch with E...
8477 views comments | 14 tweets | 10 linkedin

Featured job

Find your next job