Remittance Processing

Solution

Remittance Processing

Lockbox solutions and automated payment processing technologies
  • Integrated lockbox operations
  • Image-assisted, automated workflows
  • Faster and more accurate processing
  • Flexible, scalable system architecture

Overview

Exela offers the banking and financial industry’s most comprehensive and flexible payment processing system. Wholesale, retail, and wholetail remittance processing are integrated on a single platform, which can operate independently, or as a central hub alongside supporting sites.

 

Exela’s remittance processing platform captures and processes full-page documents and provides a variety of powerful data analytics tools that help minimize exceptions, yield fewer bad checks, and provide early fraud detection. The system’s modular architecture allows for a high degree of reliability and scalability, which makes it well-suited to organizations that depend on fast, accurate, high-volume payment processing.

Features
Automated Data Capture

Optical character recognition technology automates payment data extraction and data entry to reduce labor requirements related to payee verification and manual keying.

Integrated Lockbox Solution

Lockbox solutions provide multiple workflow options. Paper and electronic item clearing and sophisticated exception handling creates a high-performance processing environment.

Embedded Business Logic

All processing business logic is embedded within the system to significantly reduce dependence on input from working groups.

Long-Term Image Storage

Data and images are encrypted and securely stored within an integrated database to enable access to authorized parties at any time.

Data Analytics

Connected data analytics tools give you access to trend analysis, predictive modeling, and customizable reports.

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Case Study

Large Healthcare Company Automates Accounts Payable Workflow for Huge Savings and Superb Customer Service

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