Solution helps organizations manage walk-in payments and remittances
Brookfield, Wis., October 20, 2009 - Fiserv, Inc. (NASDAQ: FISV), the leading global
provider of financial services technology solutions, today introduced its new RemitStream® Remote Lockbox Capture solution to help organizations manage payments that consumers or businesses have mailed directly to or walked into the bank customer''s office.
Using RemitStream Remote Lockbox Capture from Fiserv, organizations receiving check
payments and documents in their offices can remotely capture the items using a PC, a
qualified scanner and an Internet connection. After using a scanner to capture images and data of checks and envelopes and full-page invoices, stubs, coupons or any type of
remittance document, the organization can then transmit these to a Fiserv lockbox site. The scanned data and images are then merged with lockbox transactions for posting, clearing and information reporting and archiving. For bank customers, the ability to capture remote payments and supporting documents from their offices saves transportation and courier costs, minimizes paper handling and provides a local mailing address and faster deposit of funds. In addition, the lockbox customer can potentially reduce Days Sales Outstanding (DSO) by one day.
An example of the Fiserv core competency in payments, RemitStream Remote Lockbox
Capture enables financial institutions to meet customers'' local or regional mailing address requirements and grow deposit and fee-based revenues without capital expenditures
"Before Remote Lockbox Capture, the financial institution''s customer was sending