Fundtech, the electronic payments specialists, says it has signed 44 new PAYplus USA clients over the last 12 months.
“Fundtech’s PAYplus USA solution allowed us to reduce full time equivalent (FTE) hours by 50 per cent,” enthuses Danyel Siler, Accounting Officer at First National Bank. “It also helped us automate our accounting entries and eliminate 70 per cent of the steps that were once needed to complete a wire. Our users found the system easy to learn, and management is happy with the new-found control they have over payments operations.”
PAYplus USA includes a so-caled Automated Payment Lifecycle Management feature that aims to automate many aspects of the payment process, and so lower operating costs, but FundTec insists the application also enables banks to improve service to clients through faster payment initiation and confirmation.
“We are delighted to see strong market acceptance of PAYplus USA,” says Michael Sgroe, Fundtech’s Chief operating Officer. “These results validate the product’s ability to deliver significant operational cost savings and improved customer service.”
Bankstaht have bought PAYplus USA include Amalgamated Bank of Chicago, IL; Arvest, AK; BankAtlantic, FL; Central Carolina Bank, NC; Citizens Business Bank, CA; First Indiana Bank, IN; First National Bank, IN; National Commerce Finance, NC; Regions, AL; Synovus Financial Corp, GA.
“We needed a more efficient solution in order to streamline the payment process,” says Tony Gautney, SVP & Director of Cash Management for BankAtlantic. “PAYplus has allowed us to process a much larger percentage of our payments without human intervention. The user interfaces follows our workflow process and has made the solution efficient and easy to use, increasing overall productivity through time and cost savings,”