Today is an important milestone in CheckAlt’s trajectory as a universal payments hub for our clients as we unveil Scrypt, our new, intelligent invoice coding solution that utilizes machine learning and automation to add and manage invoice payments within your enterprise resource planning software.
I have some very exciting news to share—we are preparing an announcement for Monday about an incredible new partnership and product offering that aligns with CheckAlt’s focus on automation and innovation. I can’t say more at this time, so please stay tuned for an update from us on Monday.
As the eternal optimist, I always look for positivity and am inspired by the creative solutions businesses are coming up with to overcome challenges. This week I was delighted to learn that professional sporting leagues including the MLB and NBA have found a way to safely resume games. We at CheckAlt continue to operate at full capacity and are noticing a shift in perspective regarding payment processing solutions. Read our LinkedIn post here.
I read a great story today about two longtime friends who made a pact in 1992 that if either of them won the lottery, they would split the winnings. Tom Cook and Joe Feeney agreed to buy lottery tickets every week. Nearly 30 years later, Cook discovered he had won $22 million. He immediately told his friend, Feeney, that they had won, as they had promised to honor each other’s word and that “a handshake is a handshake.”
This week CheckAlt unveiled its partnership with credit union services organization Tru Treasury—an alliance that will support credit unions in expanding services and attracting more corporate members. I am delighted to have the strength of our credit union team collaborate with Tru Treasury and help level the playing field for credit unions, making their services more attractive to commercial, public, and non-profit membership. The announcement was picked up by PYMNTS, which you can read here.
In a blog post we published this week, Rob Snyder expressed the value of our partnership with RMS to healthcare providers across the U.S., specifically exploring how automation of healthcare provider claims has the potential to create $9.9 billion in annual savings for the industry. The potential impact of our solutions on longstanding challenges in not only the healthcare industry but across various industry verticals is significant by design.
Each day we remain steadfast toward our strategy and focus on checks, Catch! (online bill pay), and cards, which has allowed CheckAlt to serve as the house of payments for hundreds of banks, credit unions, and businesses seeking to accelerate cash flow and streamline reconciliation.
CheckAlt continues to operate at full capacity and work through external challenges including coordination around postal delays. As I shared earlier this week on LinkedIn, our clients benefit from CheckAlt working directly with USPS to resolve issues and keep payments flowing. Moreover, CheckAlt has been seeing an uptick in clients choosing solutions that help transition traditionally paper payments to electronic, circumventing postal delivery altogether. This is very exciting, and I am eternally grateful for the results of CheckAlt's commitment to our strategy.
Stay healthy and safe!
CheckAlt is pleased to announce its partnership with credit union service organization Tru Treasury to assist credit unions with their paper and electronic payment processing needs for attracting and retaining corporate members.
During a call yesterday, I was asked why we chose the name “CheckAlt” for our company. While initially our primary focus was on the processing of paper checks, we soon realized from working with clients like you that we also needed to address all of the alternative forms of payment, such as ACH, cards, and online bill pay checks. Hence the “Alt” in CheckAlt. In the past 10 years, CheckAlt has become the house of payments—from the check to the alt—and we are grateful to provide payment processing solutions for your varying needs.
The opportunities and challenges presented in first half of 2020 resulted in an incredible amount of growth for our organization. Amidst the public health concerns and social unrest, CheckAlt has stayed the course and become the payments “house” by designing, developing, and providing modern check, online bill pay, and card payment processing solutions for you.
I hope you all had a wonderful week. As you may know, on Tuesday I had the great honor of celebrating the union of my son Zvi to his wonderful bride Kayla. The event was a beautiful reminder of the power of human connection and the value of creating a memorable, pleasant experience. Life is about experience, and I will cherish the memories of that day for the rest of my life.
I am delighted to share more positive news with you this week. First, we are proud to announce our partnership with RMS, the leading provider of healthcare remittance management services, to create a joint solution for our healthcare clients to augment our lockbox services nationwide. Read the press release here.
CheckAlt, which processes more than 500,000 patient payments and 250,000 explanation of benefits (EOB) payments per month for healthcare lockbox clients, recently partnered with RMS to accelerate the revenue cycle and improve cash flow for healthcare clients.
CheckAlt has expanded its partnership with Pawtucket Credit Union to provide lockbox processing services for its corporate membership.
CheckAlt Expands Partnership with Yolo Federal Credit Union to Provide Streamlined Loan Payment Processing
CheckAlt is proud to support credit unions like Yolo Federal Credit Union as they shift toward digital payment tools that enhance member experience.