ProfitStars tech promises to simplify remittance processing

Source: Jack Henry & Associates

Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its ProfitStars® division today announced a fully hosted version of its proven remittance solution, RemitPlus® Express™.

RemitPlus Express eliminates the need for multiple employees to manually sort, reconcile, process, endorse and post payments, significantly reducing labor costs as well as the potential for human error. All payment details can be easily accessed through a user-friendly browser, arming merchants with comprehensive information at their fingertips. The offering requires no software installation outside of scanner drivers, and provides financial institutions with a lower cost of entry compared to traditional remittance offerings. Plus, they gain comprehensive disaster recovery and failover support from ProfitStars.

Abel Castro is EVP and chief investment officer at Texas-based First Bank & Trust, an early adopter of RemitPlus Express. He stated, “With its ability to manage large volumes of checks coupled with an intuitive user interface, RemitPlus Express is ideal for any company that bills its customers on a recurring monthly basis. The solution has proven extremely useful to our business clients, as it allows them to easily post payments and avoid dual data entry. The rollout was seamless and by far has delivered more complete functionality than other remittance solutions available today.”

NTS Communications, the leading provider of fiber-based communications solutions for both residential and business customers across Texas and Louisiana, implemented RemitPlus Express as a First Bank & Trust customer. Don Pittman is the EVP and chief financial officer of NTS Communications. He stated, “RemitPlus Express allows us to easily upload a file, scan it and then get it to our AR system which eliminates repetitive data entry and the need to physically store numerous files. Because we process thousands of payments every month, the time and cost savings this new system provides us will positively impact our bottom line. This solution also enables us to better serve our customers when they have inquiries about their billings. Our employees are able to instantly access the system to retrieve customer information to quickly and accurately answer any questions the customer may have.”

Russ Bernthal, president of ProfitStars, said, “We are committed to bringing new hosted options to market as we see their ability to present cost-effective alternatives for our clients and their customers. RemitPlus Express extends even greater efficiencies and transparency to financial institutions’ electronic remittance processes, reducing the resources and expense of posting recurring payments while also increasing on-time collections and cash flow.”

RemitPlus Express users have immediate access to scanning, entry, balancing, depositing, reporting and exporting to virtually any billing system directly from their internet browser. The solution is core agnostic and currently supports more than 80 billing and accounting systems and can complete processing at up to 190 documents per minute. 

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