Sterling Savings Bank licenses AFS Direct Merchant software

Advanced Financial Solutions Inc. (AFS), announced today that Sterling Savings Bank, a leading regional community bank serving the Pacific Northwest, has selected AFS Direct Merchant as its remote merchant capture solution.

  0 Be the first to comment

External

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.

AFS Direct Merchant is a distributed capture solution designed to provide the bank's commercial and corporate customers with the convenience of capturing images of check payments in their own back office, where they are received. Once the payments are image-captured they are sent through a secure Internet connection, to Sterling Savings Bank's central payment processing center to begin the clearing process.

AFS Direct Merchant provides a variety of benefits and cost savings for both Sterling Savings Bank and its corporate and commercial clients.

Commercial business customers will realize accelerated funds availability, the consolidation of accounts, the elimination of transportation and courier issues, and reduced errors and exposure to fraud.

Sterling Savings Bank will benefit by truncating the flow of costly paper check processing, by expanding their "reach" to corporate accounts that were previously not geographically viable, and by signing new corporate customers, eager to improve availability of funds by capturing check images earlier in the clearing process, at their place of business, where the payments occur.

"Payment processing has become an environment highly conducive to change," said Kade Peterson, senior vice president, Sterling Savings Bank. "AFS Direct Merchant allows us to move image capture out to our corporate depositors' place of business, for use in their back office. Direct capture provides the benefits of convenience, lower payment processing costs, and the consolidation of payments into a single account with our bank."

"Sterling Savings Bank has always been at the forefront of providing new image item processing services to their customers. Being among the first to offer remote merchant capture to corporate clients is the type of strategic move that has allowed Sterling Savings Bank to compete so effectively with the large national banks in the Northwest," said Gary Nelson, president of AFS. "Sterling Savings Bank has a proven track record of identifying and implementing powerful new applications before they take root in the industry. AFS Direct Merchant is another solution that allows Sterling Savings Bank to offer the same products and services of a large, national bank while retaining the feel and comfort of a hometown bank."

Sponsored [On-Demand Webinar] Beyond Open Banking – Exploring the Move to Open Finance

Comments: (0)

[New Report] AI Strategies for Scalable, Secure and Compliant BankingFinextra Promoted[New Report] AI Strategies for Scalable, Secure and Compliant Banking