BANKLINK ADDS POSITIVE PAY TO ITS iLINK SUITE OF PREMIER CASH MANAGEMENT SERVICES
Tuesday July 29, 12:32 pm ET
New solution is flexible enough to work with any bank's Account Reconciliation Program (ARP) System
biz.yahoo.com
NEW YORK--(BUSINESS WIRE)--July 29, 2003-- BANKLINK, a unit of Fiserv, Inc. (Nasdaq: FISV) and a leading provider of Web-based treasury management products and services, announced today the introduction of a new Positive Pay solution that financial institutions can use to combat check fraud as well as generate additional revenue from their business customers.
iLINK(TM) Positive Pay provides corporate customers an opportunity to make explicit decisions for payment on check items that have been presented on their accounts. This solution empowers the corporate user to decide which checks should be paid, providing them additional assurance that they have a safeguard against losing money through fraudulent or invalid checks.
"Now corporate customers have an easy-to-use, reliable service that directly puts them in control of the check approval process and protects them against check fraud," said Paul A. Frank, BANKLINK's President. "By helping their customers protect themselves, financial institutions also help themselves by increasing customer loyalty and revenue, reducing check fraud, and positioning their organization as an innovative and progressive provider of treasury management services."
iLINK Positive Pay provides a comprehensive, integrated product that imports and creates check issuance files. These files are aggregated on the BANKLINK server and extracted by the financial institution for processing by any ARP system. The ARP system reconciles the uploaded check issuance files against the presentment files and produces an exception file that is made available to corporate customers to make decisions on whether they want to pay them or not. "What makes iLINK Positive Pay different from other solutions," explains Ed Hansch, Vice President of Product Development at BANKLINK, "is that it is designed to work with any ARP system and any format of customer's check issuance files."
iLINK Positive Pay can easily be integrated into BANKLINK's iLINK cash management solution, a powerful, flexible and valuable product targeting the needs of middle-market (companies with revenues above $10 million) and large corporations. iLINK Positive Pay can be bundled with other iLINK products such as ACH Origination, Cash Concentration, Information Reporting and Wire Transfer as the financial institution wishes. iLINK offers full branding capabilities, including a home page customized with the institution's own messages, product name and logo, colors, and more. Email capabilities allow the institution to target customers individually or in groups based on distribution lists the institution creates. Value-added services, such as customer service and marketing support services, allow businesses to concentrate on their core functions. |
