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Solving the Receivables Challenge: How Alogent and CheckAlt Are Simplifying Payment Management

Improving cash flow and reducing inefficiencies are top priorities for businesses. However, managing both paper-based and digital payments remains a complex challenge. To meet the evolving needs of their business clients, financial institutions must offer seamless, secure, and efficient payment management solutions. The demand for a complete receivables platform has never been greater.

 

To help financial institutions meet this need, Alogent and CheckAlt have partnered to deliver an integrated receivables solution that provides a streamlined, secure way to manage all types of payments—both digital and paper-based.

 

 

 

Meeting the Demand for a Complete Receivables Solution

In partnership with CheckAlt, Alogent has enhanced its already robust payments and item processing platforms to create a comprehensive receivables solution for financial institutions. By integrating CheckAlt’s traditional lockbox and Catch! electronic lockbox solutions, Alogent now offers its financial institution clients a comprehensive platform that seamlessly processes both paper-based payments and digital transactions.

 

Alogent’s financial institution clients can now provide businesses with a more efficient, secure, and streamlined way to manage payments across all channels.

 

The Power of a Complete Receivables Platform

With CheckAlt’s lockbox and Catch! electronic lockbox integrated into Alogent’s platforms, financial institutions can offer a complete receivables solution that addresses both paper-based and digital payments. This comprehensive solution helps businesses:

  • Manage all payment types in one place: Whether paper-based or digital, businesses can handle all payment types through a single platform, eliminating fragmented processes and improving operational efficiency.
  • Digitize receivables: With an integrated solution, financial institutions empower their business clients to digitize their receivables, reducing manual intervention, speeding up payment cycles, and enhancing cash flow visibility.
  • Mitigate fraud risks: This solution significantly lowers the risk of check fraud, offering businesses a more secure payment experience.
  • Improve operational efficiency: Automating both paper and digital payment processes helps banks and credit unions provide a more seamless experience for their business clients, ultimately improving efficiency.

Unlocking New Capabilities with CheckAlt Technology

Alogent’s item processing platforms have been strengthened with the integration of CheckAlt’s traditional and electronic lockbox solutions, adding new layers of functionality for managing both paper and digital payments. These solutions offer businesses the tools to streamline receivables management.

 

Lockbox: Digitizing Paper-Based Payments

Despite the rise in digital payments, many businesses still rely on paper-based check payments, which can cause delays and manual processing headaches. With CheckAlt’s lockbox services integrated into Alogent’s platforms, financial institutions can offer a more efficient way to process and digitize paper-based payments. This helps businesses:

  • Speed up payment cycles by converting checks into digital transactions.
  • Reduce manual workloads related to handling and reconciling physical checks.
  • Access funds faster, improving cash flow management.

Catch! Electronic Lockbox: Keeping Online Banking Bill Payments Digital

Businesses and individuals expect payments to remain digital when using online banking bill pay, but these payments convert to paper checks when the business is not connected to biller networks. CheckAlt’s Catch! electronic lockbox connects businesses to biller networks, ensuring that online payments remain digital, improving efficiency and reducing the risks of paper conversion. The benefits include:

  • Faster payments by keeping transactions within secure, digital channels.
  • Reduced fraud risk through the minimization of paper checks.
  • Enhanced visibility into cash flow, allowing businesses to track payments in real time.

The Combined Strength of Alogent and CheckAlt

By integrating CheckAlt’s lockbox solutions, Alogent offers a complete receivables solution that simplifies payment management. Whether processing paper checks through lockbox or ensuring online bill payments remain digital, this partnership delivers a more efficient, secure, and scalable solution.

 

Shai Stern, CEO of CheckAlt, explains:

"Our partnership with Alogent enables their financial institution clients to offer a more complete solution for both paper and digital receivables. With lockbox and Catch! electronic lockbox integrated into Alogent’s platform, businesses can trust that their payments will be processed securely and efficiently, regardless of channel."

 

Dede Wakefield, CEO of Alogent, adds:

"This collaboration rounds out our receivables offering, enabling our financial institution clients to deliver a more complete, streamlined payment processing solution to their business clients. We’re excited to provide a platform that scales with their growth and addresses evolving business needs."

 

A Complete Digital-First Solution for Financial Institutions

The Alogent and CheckAlt partnership is reshaping receivables management. By combining the strengths of Alogent’s existing payments platforms with CheckAlt’s lockbox solutions, financial institutions can provide a complete, digital-first solution that helps businesses simplify payment workflows, reduce fraud risks, and improve cash flow visibility.

 

Learn more about Alogent’s integrated lockbox offering or read the full press release, “Alogent and CheckAlt Partner to Deliver Complete Receivables Solution for Financial Institutions.”

 

If you’re a fintech looking to offer an integrated receivables solution, contact us today.

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