Union Bank, N.A., today announced the introduction of its next generation remote deposit solution, Remote Deposit Accounts Receivable (A/R).
The new software improves customers' operating efficiency by integrating directly with their accounting software and enabling them to update their account receivables in one process.
In the past, users scanned their checks in remote deposit separately and used accounting software to post payments and close outstanding invoices. Now, users can launch remote deposit A/R directly from their specialty software, scan their checks, apply the checks to outstanding invoices and close them out in one efficient process. This next generation solution also offers a feature that recognizes customer accounts and automatically matches checks to the correct customer and invoice. This is the first in a series of product enhancements that will integrate remote deposit A/R with some of the most popular business accounting software packages.
"Remote deposit is an important strategic initiative that strengthens Union Bank's national presence and processing capabilities," said Executive Vice President Gregory J. Cicero, director of global treasury management. "The integration between remote deposit and the customer's accounting software eliminates the additional manual processing and improves the customer's operating efficiency. It is another example of the bank's investment in new technology and commitment to providing the right solutions to meet our customers' needs. It sets us apart in the market."
Union Bank's remote deposit service provides business customers anywhere in the U.S. the convenience of scanning and depositing checks from their office and electronically transmitting them to the bank. Additional benefits of remote deposit include: increased cash flow with faster access to funds and expedited clearing of electronic payments; reduced costs related to check handling; consolidation of any number of deposits from different locations into a single account; convenient online payment and remittance information that provide automated updates to customers' receivables systems; and independence from branch hours and courier pick up schedules.