Merchant Remit Solution for Financial Institutions
Remittance/Lockbox Solution for Financial Institutions
Designed to streamline high volume payment operations of commercial banking customers, Merchant Remit is the latest technology in image-based remittance and lockbox payment processing. As a strategic service offering, you can use Merchant Remit to attract new, high balance commercial accounts and retain existing ones.
The system provides end-to-end processing—from capturing check and coupon images, through deposit preparation in Check 21 X9.37 file format.
Merchant Remit offers two service location alternatives:
- It can be operated as a full-service solution from your bank's data center-OR-
- It can be installed at the customer's location where payments are processed and secure, image-based deposits are remotely transmitted to your bank for integration into the bank's clearing system.
Priced competitively, Merchant Remit's license model contains no transaction-based charges for the bank.
Features include:
- Project Builder module defines processing rules for lines of business
- Multiple document capture
- Supports 40 different capture devices
- Recognition technologies included
- CAR/LAR and image quality assurance
- Image bank deposit in Check 21 and IRD formats
- Transaction file interface to all leading accounting systems
- Supports "ARC" conversion
- On-line image archive
- Smart balancing, account linking and key-from-image
- Secure, encrypted data transfer
- Available via in-house or ASP license
