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Goldleaf Financial Solutions Merchant Remit Solution
Goldleaf has enhanced its Merchant Capture remote deposit solution with the addition of Merchant Remit, its payment processing solution. Merchant Remit provides commercial customers with an in-house application to process high volumes of checks with coupons and other supporting payment documents. By offering the Merchant Remit solution to commercial customers, banks can accelerate and multiply the benefits behind the reason they initially offered remote deposit—that is, to increase deposits, generate fee income and provide better customer service.
The combination of these two payments applications is a win-win solution for both the bank and its customers based on the following merits:
1. Banks can attract and retain valuable, payment-intensive commercial accounts such as utility, property management and external mortgage companies without assuming the lockbox responsibility. These high-volume payment customers would not be prospects for institutions only offering remote deposit.
2. The bank receives significantly higher volume deposits from customers using Merchant Remit as compared to those using Merchant Capture alone, both in number of items and higher dollars per deposit.
3. The bank needs no additional hardware resources as both Merchant Capture and Merchant Remit use the same consolidation server [at the bank] for validating deposits and creating X9 files for entry into its clearing system.
4. The bank’s customers are provided a fast, efficient means to process high volumes of checks with coupons or other supporting documents, reducing the time and expense of manual tasks.
5. The bank’s merchant customer can manage its own remittance processing on the same hardware and with the same method of deposit transmission as its remote deposit system. The merchant can use the payment extract files that are automatically generated by Merchant Remit to update accounts receivables and provide better customer service through the system’s online image archive of processed checks and coupons.
Goldleaf Financial Solutions
www.goldleaf.com