More than 60% of remittances are sent electronically in B2B space, yet banks capture only 5% of this significant market by not offering e-remittance processing services. Learn how challenges around offering e-remittance services could be addressed with a cost-effective and easy-to-deploy technology solution.
Leverage existing resources to enhance receivables services with e-remittance processing
Achieve 90%+ capture rate with robotic process technology in e-remittance processing
Eliminate redundant, low-value tasks such as manual keying, scanning of remittance information using automation
Offer faster receivable services with existing IT infrastructure and minimal capital requirement
In an Aite group survey, 77% of banks cite complexity in capturing non-standard remittance formats from email, email attachments and web portals as the top roadblock to electronic remittance processing services. It is not surprise then that 90% of banks fear that overcoming this barrier would require significant investments to develop an advanced in-house technology solution.
The problem of e-remittance cannot be ignored. The increasing adoption of e-payments continues to exacerbate the complexity with higher e-remittance volumes, and also puts lockbox services and profitability under pressure.
Join us as we explore the technology options that could simplify e-remittance data capture and consolidation with minimal IT and capital requirement, and enhance lockbox service revenue from e-payments.
Jim McShea, VP, Banking Solutions, HighRadius
Jim is an industry expert and has extensive experience within all segments of banking and payments. He has spent more than 20+years in the banking industry delivering expert, strategic insight and advice on technology for banking payments and receivables solutions.
Jay Tchakarov, VP, Product Management, HighRadius
Jay is responsible for defining A/R and banking products. He and his team work closely with prospects and customers to ensure the products address critical pain points.Jay has 15+ years of experience in software development, product management, and numerous successful product launches.