A lockbox provider passes cost savings and increased efficiencies to their clients by using RP Solutions' automatic clearing services.
• Industry - Lockbox Processor
• Challenge - Managing dozens of daily deposits to multiple banks
• Solution - TPS Platform that consolidates deposits and generates deposits
Bill2Pay, formerly Intuition Systems, is a remittance lockbox and electronic payment processing provider for government agencies, commercial businesses and financial institutions. They process over 30 million payments annually for over 60 clients at two processing facilities in Florida. They use RP Solution's ExpertRPS, ExpertICE, and TPS Platform exclusively for all their check processing and clearing.
Bill2Pay maintained very stringent daily procedures for each lockbox client. Some of their tasks were quite labor intensive, including preparing deposit files that met the requirements of each customer's bank, and manually uploading these files to each bank on a daily basis. Bill2Pay wanted to automate these processes to gain efficiency.
"Now, the TPS Platform is our deposit," says Kathy Wilson, Operations Director at Bill2Pay. "It automatically releases our clients' ACH and ICL files to their banks, and the banks simply let us know when they've received the files. This saves our group significant time, since we are not sending these files manually each day."