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.
I hope you all had a great week. This Sunday is Mother’s Day, and I am proud to celebrate the amazing mothers in my family and the many amazing mothers on our CheckAlt team.
As many of us anticipated, new data is showing a spike in remote deposit capture technology usage as financial institutions and businesses operate in a partially or fully virtual way. If you or your customers need assistance processing mail, CheckAlt is here to help as your primary or secondary resource.
We are observing the impacts of systemic USPS mail delivery delays across our nationwide processing network due to USPS staffing shortages. CheckAlt is also seeing USPS mail volumes come in lighter on normally the heaviest days of the week/month (e.g. first Monday of the month), yet come in heavier on other days (e.g. Wednesdays when mail is usually much lighter). This is in addition to the USPS extension of package service delivery commitments we shared with you on April 17.
I want to reiterate that our team is 100% engaged on processing all work as it comes in. Though USPS response times have slowed due to these systemic delays, we are constantly communicating with our post office contacts and are aware of their efforts to secure additional staffing in areas of heavy USPS call outs.
During Berkshire Hathaway’s annual shareholder meeting, chairman and CEO Warren Buffet said the following: “Fear is the most contagious disease you can imagine. It makes the virus look like a piker.” (A piker is “one who gambles or speculates with small amounts of money.”) We must not let fear derail our focus. I am pleased to report that CheckAlt’s staffing levels have returned to normal as we continue to operate in our hybrid mode of team members social distancing at all of our sites across the U.S. while others work remotely.
Stay healthy and safe, have a great weekend, and happy Mother’s Day!
I want to start off this week’s update with an uplifting story. We are incredibly proud of our CIO Ram Bajaj for generously giving his time to help lead a food drive in the Los Angeles area, providing bags of groceries to families in need during this challenging time.
This is the first of our now weekly updates to clients during these unprecedented times. I am pleased to share the continued success of CheckAlt’s hybrid approach, which involves those who can work remotely doing so and those needed to assist with processing coming into the office valiantly. Our daily sanitization efforts continue, as well as providing cleaning supplies and masks at our facilities.
Happy Friday. In light of the recent news, I wanted to share the following message with you:
New York, California, and localities across the U.S. have begun to enact temporary restrictions on non-essential business operations, asking millions of people to stay home. We want you to know that CheckAlt is considered essential and is not subject to these temporary restrictions. Our production teams across the country are working diligently to process mail for financial institutions and businesses that power our economy. We are in constant communication with our mail carriers including USPS, which is also considered an essential business and remains operational.
If you are concerned about not being able to pick up mail for your business, CheckAlt is here to help. Whether you are scanning payments using CheckAlt’s remote lockbox or merchant remote deposit capture solutions—or you have customers who are using a different solution—please contact us immediately and we will work with you to direct mail strategically across our nationwide, 13-site processing network.
Stay healthy and safe!