Modern Receivables, Stickier Deposits: How Payment Innovation Drives Commercial Growth

Payment operations have shifted from a cost center to a strategic lever for growth. Financial institutions that modernize receivables can retain deposits, strengthen client relationships, and unlock new revenue. 

Financial institutions have seen over $1.3 trillion in deposits exit since 2022, and competing on rates alone to win them back is unsustainable. Most assume these outflows are driven by clients chasing higher yields. In reality, many deposits quietly slip out the back door via outdated receivables systems.  

For businesses, the day-to-day ease of receiving payments often dictates their banking choices. In fact, 73% of corporate treasurers and CFOs say digitizing treasury functions, including receivables, is among their top strategic challenges, highlighting how digital payment efficiency has become a key driver of commercial growth in business banking. 

The connection? If receivables processes are slow or error-prone, client loyalty erodes. A CFO frustrated by manual lockbox steps or waiting days for check funds might quietly move deposits to a tech-savvy competitor. Modernizing receivables isn’t just back-office housekeeping; it’s directly tied to stickier deposits, better data insights, and new revenue streams.  

How Modern Is Your Payments Infrastructure? 

Curious how you stack up? One way to assess your institution’s infrastructure is through a three-level payments maturity model: 

• Level 1: Fragmented & Reactive. Receivables are mostly manual and paper-based—such as daily courier pickups for lockbox—and further fragmented by siloed systems for online payments and remote deposit capture. 
  Risk: Deposits are delayed, errors and fraud risks run high, and clients grow frustrated by friction and inefficiency. 

• Level 2: Digitized but Disconnected. Receivables processes are partially digitized, with tools like electronic lockbox, online payments, and remote deposit capture in place—but each operates in a separate system. 
  Gap: No unified view of incoming payments, data still lags, and clients juggle multiple platforms to get information. Modernization is underway, but payments aren’t yet a cohesive whole. 

• Level 3: Unified & Intelligent. All payment channels—such as check, ACH, wire, and card—feed into a single, integrated platform. AI and analytics automate reconciliation and deliver real-time insights. 
  Outcome: A streamlined, connected, end-to-end experience with instant access to information. Deposits become “sticky” because your institution is embedded in the client’s daily operations. This deeper integration also opens the door to new fee-based service opportunities. 

Identify your institution’s current level of payments maturity and push for modernization. An institution stuck at Level 1 risks attrition, while one at Level 3 is likely winning more primary relationships. 

Friction Drives Flight: How Payment Experience Impacts Deposits 

Corporate clients now expect the same speed and transparency in B2B payments that they experience as consumers. Yet about 33% of B2B payments are still made by paper check—slowing down cash flow and frustrating finance teams.  

The financial institution that helps clients automate that last paper-based mile and capture the float on those payments gains a clear loyalty advantage. In fact, businesses actively using their financial institution’s treasury services typically maintain deposit balances about 31% higher than those that don’t. It’s a clear connection: reducing friction in payments leads to deeper relationships and stickier deposits. 

Clients tend to keep their operating deposits where receiving and reconciling payments is easiest. If your receivables process forces them to chase remittance details or endure delays, they'll eventually look elsewhere. Lockbox and receivables services aren't just back-office tools; they shape the daily experience your clients have with your institution. 

From Cost Center to Revenue Engine 

Banks and credit unions traditionally view treasury operations as a cost, but modern payment services can generate significant revenue. Financial institutions can offer integrated receivables portals, detailed reporting dashboards, and API access as premium services—creating new fee-based revenue streams while delivering value to clients. 

Simultaneously, automation significantly lowers operational costs. Accounts receivable automation alone can reduce processing costs by as much as 80%. Thus, investing in modern receivables platforms delivers dual benefits like increased fee revenue and operational efficiency. Financial institutions that proactively modernize will gain these competitive advantages, leaving others to chase shrinking market share. 

Payments Data: The Hidden Strategic Asset 

Every receivables transaction generates data insights into a client’s cash flow, customer base, and behavior. Unfortunately, legacy systems often keep this goldmine buried in silos. This isn’t just an IT headache; it’s a strategic blind spot. If you lack a holistic view of a client’s payments, you could miss vital warning signs or chances to help them. 

A modern, unified receivables platform turns data into a strategic advantage. When all payment channels funnel into one system, you can analyze patterns and derive actionable insights in real-time, whether spotting fraud, identifying a client’s need for a new service, or tailoring credit based on payment trends. Yet very few have mastered this. 

Modernizing payments isn’t just about speed and building an information advantage. Banks and credit unions that harness payment data can deepen client relationships with proactive solutions, while those that don’t will be left guessing. 

From Process to Platform: A Leadership Mindset Shift 

The implication is clear: Payments are no longer routine back-office processes. Payments now require strategic focus. 

Every transaction is a touchpoint. When financial institutions treat payments as routine operations, they miss the opportunity to build loyalty and grow deposits. Growth comes from modernizing how money moves and leveraging the insights gained from each payment. 

Leadership must champion payment modernization as a priority. It’s no longer just a task for IT. Payments are central to winning and keeping business. Institution leaders and boards should be asking, “Are we making it effortless for clients to do business with us?” If not, those clients will find someone who can. 

Executing this vision can start small. Identify one high-friction area in your receivables operation and tackle it. It might be the manual steps in lockbox processing or the lack of real-time payment posting. Set a clear goal and empower your team to achieve it.  

Partnering with a fintech provider specializing in AI-driven reconciliation or digital lockbox automation can accelerate results. The key is to take action. 

The Payoff: Retain, Grow and Prosper 

Modernizing receivables delivers a triple benefit: 

• Stickier Deposits: Embed your bank or credit union in clients’ daily operations so they have no reason to move their funds elsewhere. When cash management is effortless, clients naturally maintain higher balances.
• Better Insights: Turn payments data into real-time intelligence that drives smarter decisions, strengthens relationships, and builds lasting trust.
• New Revenue: Don’t just process transactions—offer premium tools clients are willing to pay for while improving operational efficiency. Modern payment services can generate fee income even as they reduce costs. 

Take Action: Grow Deposits by Modernizing Receivables 

Financial institutions can’t afford to overlook the strategic connection between payment operations and deposit retention. Those who act now—transforming receivables into a competitive advantage—will lead, while others risk falling behind. The choice is simple, treat payments as routine back-office tasks or leverage them as strategic platforms for sustainable deposits. 

Discover how CheckAlt can optimize your receivables management strategy and fuel long-term commercial growth. Contact us today to discuss a tailored solution for your institution. And be sure to follow us on LinkedIn and subscribe to CheckAlt Connect, our monthly email newsletter, for the latest insights in payments technology. 

Explore Related Solutions: 

• Catch! Electronic Lockbox: Keep online banking payments digital and eliminate manual processing delays.
• Online Payments: Offer ACH and card payment options through a secure, mobile-optimized portal.
• Integrated Receivables: Manage all receivables from a single platform with real-time visibility.