Web Enhances Positive Pay
One of the benefits the Internet has brought to the corporate banking world is simplified, quicker positive pay methods.
For example, Centrix Solutions recently announced a positive pay system that requires no new software for corporate clients. The transaction management and account reconciliation system resides on the bank's system. Corporate clients issue electronic check files to the bank's website. The bank's system then conducts nightly check reconcilement, and emails are automatically sent to clients on exception items. The clients can then deal with those exceptions on the bank's website. The system also allows clients to see images of the front and back of exception items.
Copyright © 2005 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 15, No. 2, 4/05
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