CheckAlt Partnership Helps Address Potential $9.9 Billion Savings Via Healthcare Provider Claims Automation

Automation of paper claims-related business payments among U.S. healthcare providers—combined with adoption of electronic payment methods including online portals—has the potential to save providers at least $9.9 billion annually, as predicted by the 2019 CAQH Index report, which has identified increasing industry cost savings opportunities for three years in a row. To help healthcare providers realize this significant savings opportunity, CheckAlt recently enhanced its healthcare lockbox processing service by forming a strategic partnership with RMS to deliver leading revenue cycle management that uses automation to accelerate cash flow.

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CheckAlt Completes Significant Milestone with Release of CaptureNet Management 3.0

CheckAlt is delighted to announce the release of CaptureNet Management 3.0, the latest version of CheckAlt’s hub for all capture channels from ATM to branch to mobile device. Our IT Team has improved the overall performance and functionality of this product including single sign-on and private-label capabilities, multi-factor authentication, and customizable permissions—all presented within a fresh, streamlined web interface.

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Why Financial Institutions Are Thriving with CheckAlt's Solutions

At CheckAlt, I have the privilege of working as the relationship manager for banks of all sizes. Our goal is to make sure their payment processing and treasury management needs are met. One of the mid-sized financial institutions we serve recently told me that their business is booming—a sentiment I’ve heard from several of our clients.

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As Branches Close, Fintechs Can Help Financial Institutions with Digital Solutions

People are not visiting bank branches like they did before the pandemic, leading financial institutions of all sizes to consider speeding up plans for shutting branches down and scaling digital solutions.

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Learning Lockbox Lingo: What Is a Check and List Transaction?

As CheckAlt expands its online and card payments services in response to payments convergence, we remain known in the industry as a leading independent provider of lockbox services in the United States. Our network of 13 lockbox processing centers allows our customers to do business nationwide. In order to operate such a vast network, CheckAlt has attracted and retained a talented lockbox and treasury management team made up of individuals who know the ins and outs of this industry. In this article, we explore one of the lesser known lockbox payment types and how CheckAlt’s solution addresses its complexity.

 

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How the Right Software Solves ATM Woes for Banks and Credit Unions

While some ATM users associate the equipment as a relic of a past generation such as pay phones, ATM technology has evolved in exciting ways to support the needs of financial institution customers through lower costs and increased security. 

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CheckAlt's API Platform Enables Powerful End-to-End Banking Solutions

In this time of payments convergence when electronic is surpassing paper, application programming interfaces (APIs) are important and powerful mechanisms that can facilitate unified connectivity across a host of digital banking tools. Some banks are embracing APIs and open banking—a concept referring to using open APIs that allow third parties to develop inter-connectivity between data sources—while others are stuck delivering solutions in isolation from each other. Truly transformational services, like those provided by CheckAlt, are delivered in coordination, allowing banks to break away from operational bottlenecks.

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CheckAlt Grows in the Years After Klik, ERAS Acquisitions

When CheckAlt acquired ERAS from Diebold Nixdorf five years ago, the deal catapulted our mobile capture and electronic check processing business to new heights. ERAS provided us with the infrastructure to service banks at a larger scale with a full suite of item processing solutions, and since 2014 we have continued to invest in innovative, secure, and compliant technology.  

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How Validation Files Save Lockbox Clients Time and Money

Did you know that setting up a validation file with CheckAlt prevents rejections and manual repair of lockbox payments, thus improving cash flow and avoiding late fees?

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Simple Contracts, Easy Implementation, Always Available

Onerous contract agreements and inferior products are causing small banks to reconsider partnerships with banking technology core providers. That’s according to a recent article published in the Wall Street Journal. At CheckAlt, our priority is delivering the right products that are easy to implement, without difficult contract terms.

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How Property Management Can Adapt to Consumer Bill Pay Habits Without Hurting the Bottom Line

Examining today’s economy as a whole, 55-65 percent of bill payments are conducted online through a biller’s website. Electronic payments are the top choice among consumers, with paying by mail or in person becoming less frequently selected options. But when the economy is viewed by industry sector, it becomes clear that property management turns that trend on its head.

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Setting Up Lockbox Processing in as Little as 7 Days

In the payments processing industry, lockbox services providers can sometimes take months to set up and begin processing volumes of complex payments and remittance. When CheckAlt sets up a new lockbox client, it can take as little as seven days.

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Why Is CheckAlt Investing in Integrated Payables?

While CheckAlt remains firmly focused on developing the best in class integrated receivables (IR) solutions, we’re also making significant investments in the payables space by hiring Rob Snyder, formerly of Mastercard’s Commercial/New Payment Group. During his tenure, Snyder played a key role in driving Mastercard’s growth through the development of industry specific use cases for virtual credit cards.

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The Right Time for Integrated Receivables Is Now

In the 12 years I’ve attended financial services conferences across the country, this year’s Association of Financial Professionals (AFP) event in Chicago was a standout. AFP is always a good conference for me because everyone I’ve built relationships with over the years attends. It’s the perfect event to get face time with people I’ve stayed in touch with all year long. 

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More Banks Partnering with Fintech Payment Solutions to Drive Value

The expo floor at the Association of Financial Professionals (AFP) 2018 was buzzing not only with large banks and corporate treasury management companies, but with fintech companies like CheckAlt showing off their innovations for financial institutions and their customers. This is quite a change from previous years, where the show was dominated only by the larger institutions.

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