Remittance Services

You receive a lot of checks, but have limited people to process them.

Our Remittance Services is the solution for your complex processing needs — supporting your transition from legacy paper processes to fully electronic payment systems. We have the tools and the expertise to drive automation at every stage of the workflow.

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Benefits for Financial Institutions

First Data combines the efficiency of retail lockbox with the flexibility of wholesale remittance processing. We can help improve operational efficiency, reduce costs and improve funds availability with the conversion of paper to electronic via accounts receivable conversion (ARC) and image cash letter (ICL).

Reduce Bank Float

Our full electronic clearing capabilities (ARC/ICL) can reduce mail and bank float for faster access to your funds.

Improve In Process Time

Full-page Optical Character Recognition (OCR) scanning cuts down on data entry.

Reduce Exception Items

Advanced online image archive platform with online image-based workflow tools can reduce overall mail lag.

Resolve Exceptions

Online integrated decisioning tools with single and multiple-day decisioning speed time.

Reduce Costs

Check conversion via ARC/ICL can improve availability.

Image Archive

Seven to 10-year image archive with thin client online web interface.

Reduce Exception Volume

Magnetic Ink Character Recognition (MICR) Match database and Account Lookup functionality.

Improve Internal Efficiencies

Business process outsourcing for value-added keying, electronic funds transfer (EFT) enrollment and address change keying enables you to focus on core competencies.

Insights

It’s difficult to justify an in-house remittance process
 

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Insights

A remittance vendor should be like an extension of your staff

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Insights

Outsourcing remittance services saves costs and impacts data security

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