Newsletter/Delivering More for Commercial Customers

 

DELIVERING MORE FOR COMMERCIAL CUSTOMERS

Tyler Sisneros, CTP | SVP, Director of Treasury Management and Digital Banking

 

Today, companies are focused on optimizing their back-office process and desire to partner with a community bank that is committed to the communities they both serve. Unfortunately, many community banks are technology challenged, and the process optimization vision evangelized by larger financial institutions precludes most companies due to cumbersome IT requirements of their cash management tools. We are proud of the tremendous strides we have made directly upgrading our cash management technologies and our strategic partnerships. Both allow us to provide our commercial clients with powerful, yet user-friendly cash management solutions.

These new solutions include:

Payables Hub:

This new payables solution integrates with accounting and enterprise resource planning (ERP) systems to streamline commercial payments. Payable Hub provides a seamless suite of B2B payment solutions to our customers and delivers the benefits of automation, revenue creation and greater treasury value. Whether a card transaction, ACH payment or check, customers can choose their optimal payment method for supplier payments.

Receivables Hub:

This new receivables platform allows customers to accept multiple modes of payment and automates posting of payments directly into their ERP or accounting systems – including lockbox, ACH, wire and credit card payments. For many commercial customers, especially those that accept a large volume of payments, the auto reconciliation of payments into their accounting systems will boost efficiency and save time.

International Payments:

Century Bank has partnered with TransferMate, a leading provider of B2B payments, to deliver a new and holistic international payables and receivables solution to all our clients. This industry-first technology provides greater levels of flexibility, speed, and transparency in an entirely frictionless payments experience. Not only will customers be able to send and receive U.S. dollar international wires to 160 different countries, but they can also complete transactions in foreign currencies, as well.

FIS GETPAID:

Century Bank has partnered with FIS, a leader in financial technology solutions. GETPAID equips clients to modernize their credit-to-cash cycle with its fully integrated, web-based accounts receivable application that helps increase cash flow, mitigate risk and drive operational efficiencies. Century Bank is part of a limited group of community banks in the country offering this service that delivers full process automation, workflow, and collaboration.

Smart Safes:

Century Bank has partnered with Loomis to provide smart safes for cash intensive business. Operating like an ATM in reverse, these electronic safes count, log, and secure your deposits for later pick up. Customers get credit each day for what’s been added to the safe, avoiding nightly trips to the bank to make deposits.

Smart Pay Biller Express:

This electronic bill payment and presentment platform allows customers to accept online payments, with Century Bank creating a tailored, branded payment page where customers can securely pay online.

Image Cash Letters: Instead of taking checks to the bank for deposit, customers can now capture their images and send them in for processing. We’re pleased to add this customer-requested feature that automates the deposit function.

Bank Administration Institute (BAI) Reporting:

This electronic cash management balance reporting system automates daily bank reconciliations.

Century Bank Payment Processing:

Century Bank has recently partnered with Fitech by Deluxe to offer an enhanced merchant card processing platform that features a more competitive pricing model and the latest technology. Bottom line? Customers can save money when switching their merchant card processing to Century Bank.

Commercial Credit Cards:

By third quarter 2022, Century Bank will debut its own commercial card platform, giving customers the flexibility to manage their own corporate cards, travel and entertainment, fleet management, and expense reporting, powered by Visa Spend Clarity.

As a full-service local community bank, Century Bank is always looking for ways to deliver better and more innovative financial solutions to our customers. Our investment in new technology, new partnerships, and experienced professional staff is part of our commitment to support our clients’ evolving financial needs.

Contact one of our local Treasury Management professionals today by visiting any of our locations or calling 505.798.5922.