Mellon GCM extends ARC to in-house lockbox processors

Source: Mellon GCM

Mellon Global Cash Management (GCM) today announced that it is expanding its accounts receivable check (ARC) conversion solution for in-house lockbox processors.

This solution is made available through Mellon GCM's technology with CheckFree Corporation. By using the CheckFree ARC ASP service, Mellon GCM will enable clients that operate in-house lockbox processing operations to leverage their existing business processes and infrastructure investments by placing an ARC solution within their own remittance processing operations. As a result, clients can benefit from significantly lower processing costs and reduce the time spent on the labor-intensive processing of paper checks.

"As part of our commitment to the future of cash management and the continual delivery of comprehensive, high quality solutions, products and services, we are proud to work with a forerunner in ACH processing whose award-winning quality standards mirror our own," said Robert Stasik, executive vice president and director of Mellon GCM. "By combining CheckFree's ARC processing infrastructure with Mellon's industry-leading collections and ACH processing expertise, we will be able to provide our in- house processing clients with the industry's most efficient and flexible ARC solution."

Mellon GCM selected CheckFree's industry-leading ARC services, based upon its commitment to providing the lowest administrative return rates in the industry, coupled with the maximum conversion of eligible items. CheckFree ARC ASP is the only service built on the company's proprietary product database that allows for critical, automated and intelligent decisions based on the most current and broad range of financial data available.

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