ProfitStars introduces Remit Central
19 April 2012 | 2020 views | 0
Jack Henry & Associates, Inc. (NASDAQ:JKHY) ProfitStars® division today introduced RemitCentral™, a solution that complements its RemitPlus Remittance/Lockbox solution by enabling seamless 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.
CoastalStates Bank recently implemented RemitCentral to offer its business customers more competitive benefits. Centralized processing is expected to save days of manual entry for business customers who elect to leverage the ACH solution. According to John W. Anderson, Jr., business banking officer at CoastalStates Bank, "RemitCentral is a great complement to our existing payment offerings. The powerful payment aggregation eases the entire process, even more than expected, and has helped us stay ahead of what our business customers demand in terms of efficiency."
RemitCentral is an ideal solution for any size institution or business that regularly receives electronic payments from multiple disparate sources. The industries served include banks, credit unions, utilities, tax offices, electric cooperatives, telephone companies, churches, non-profit organizations, insurance agencies, and property management companies.
David Foss, president of ProfitStars, commented, "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. RemitCentral is a strong asset to financial institutions and businesses that continue to expand their payment options, providing them a way to consolidate processing and reconcile payments in a secure, open, and seamless manner."