From Stuck to Streamlined: Why It's Time to Rethink Receivables

If you're reading this, chances are your institution is investing heavily in modernization. You’ve upgraded your core, added real-time payments, and maybe even launched a sleek digital front-end experience. But let me ask: 

Have your receivables kept up? 

For too many financial institutions, the answer is “not really.” And that’s a problem. 

Receivables: The Overlooked Opportunity  

Receivables remain one of the most underfunded and outdated areas in banking operations. While the front end gets a facelift, the back office still juggles manual processes, fragmented systems, and paper-heavy workflows. That mismatch creates risk—not just operational or fraud risk, but reputational risk too. 

Your commercial clients feel it. 
Your treasury teams feel it. 
And your bottom line reflects it. 

Doing Nothing Is No Longer an Option  

Let’s put this in perspective: 

• 63% of financial professionals experienced attempted or actual check fraud in 2024
• Nearly 40% of B2B payments are still made by check 
• Staffing shortages are draining institutional knowledge faster than it can be replaced
• And even the U.S. government is phasing out checks in its own operations 

If you’re still waiting for a sign that it’s time to modernize receivables—this is it. 

A Smarter Path Forward: The Receivables Modernization Framework 

At CheckAlt, we’ve worked with hundreds of institutions of all sizes, and we’ve found that the most successful receivables transformations follow a clear path—one that doesn’t require ripping and replacing everything. It starts with three key pillars: 

1. Digitize Where It Counts 

Modernization doesn’t mean eliminating paper overnight. It means taking low-lift, high-impact steps that reduce friction and improve cash flow. 

• Keep online banking bill pay payments digital with Electronic Lockbox
• Accept ACH, debit, or credit through Online Payments
• Scan paper checks on-site with Remote Lockbox or embedded RDC APIs 

Small changes. Big impact. 

2. Consolidate What’s Fragmented

Most institutions are stuck in swivel-chair mode—managing multiple vendors, platforms, and logins just to process payments. Consolidation brings visibility and control. 

Imagine seeing every inbound payment—check, ACH, card—on a single platform, with one dashboard, one login, and one reconciliation flow. That’s not a dream. That’s integrated receivables. 

3. Future-Proof for What’s Next

There’s no new graduating class of treasury operations specialists. Your most experienced team members are retiring—and they’re taking decades of knowledge with them. 

This is where automation and AI come in—not to replace staff, but to extend them. From smart reconciliation to AI-powered assistants, the right tools can fill knowledge gaps, lighten workloads, and preserve continuity. 

How to Get Started: Practical First Steps 

Modernization doesn’t need to be overwhelming. Start small. Start smart. 

• Identify friction points: Are checks being keyed manually? Are digital payments showing up as paper?
• Reexamine your payment channels: What are you accepting—and how?
• Audit your team capacity: Where is knowledge walking out the door?
• Choose your deployment model: Build, buy, or partner (or all three) 

Even one change—digitizing a single task, consolidating a system, outsourcing exception handling—can unlock real value. 

To guide you through this process, we put together a resource specifically for treasury and operations leaders: 

Download the Treasury Transition eBook 

Receivables Shouldn’t Hold You Back 

Let me leave you with this: 

Receivables are not just a back-office function. They’re central to fraud prevention, cash flow, client experience, and operational resilience. 

Modernization is no longer optional. It’s achievable. And it doesn’t have to be disruptive. 

If your receivables strategy is still stuck, let’s talk. 

Ready to move from Stuck to Streamlines? Contact us today to learn more about our approach to modernizing receivables. While you’re at it, be sure to follow us on LinkedIn and subscribe to CheckAlt Connect, our monthly email newsletter, to keep on top of the latest in payments.