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. 

That’s what our business is about—building relationships with the right people and providing them with useful technology that makes it easier for them to serve their customers.

Back in 2006, CheckAlt made a statement as a national company that we are focusing on partnering with banks to serve more businesses. We made the right move, and since then we’ve established some incredible partnerships.

Over the years, I’ve built relationships with key banking executives in the industry whose time is very valuable and limited. It’s vital to cultivate these relationships, to make sure that CheckAlt stays top-of-mind when banks are ready to select the right solution. Because I’ve built these relationships, they know where to go—CheckAlt.

At this year’s AFP, I had conversations with many of my banking connections. In between all of the seminars and sessions to attend, I was able to clearly identify which solutions they need. Integrated receivables came up in almost every conversation.

Many banks utilize multiple vendors for different receivables solutions. For example, they have one vendor for ACH transactions and another for lockbox processing. Sometimes they acquire other banks and take on additional vendors as part of the acquisition.

Often, these vendor solutions operate on separate platforms and do not work seamlessly together, which is why banks are looking for a single-source vendor like CheckAlt. CheckAlt uses API integrations to consolidate all payment data, regardless of method or channel.

Banks are not technology companies. They’re banks. As an independent fintech provider, CheckAlt can ingest all types of payment data, including from third-party vendors, and provide banks with one centralized platform to manage everything. CheckAlt's technology can provide a competitive advantage for banks like yours by delivering faster payments and quality data in a seamless environment. Learn more here.

This post was written by David Gasman.

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