SendPoint: Merchant
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A distributed capture service solution for merchant and corporate points-of-presentment.
Customer acquisition and retention through merchant capture
Check 21 has leveled the playing field. Your institution needs a payments strategy
designed to attract new commercial accounts and strengthen existing relationships.
In today's competitive marketplace your institution must offer your customers the
most convenient and cost effective corporate banking solutions and services. SendPoint:
Merchant will allow your commercial and merchant customers to streamline their operations
and significantly reduce processing costs and improve productivity.
Studies show that financial institutions that successfully incorporate merchant
capture into their commercial business offerings are generally viewed as a preferred
provider of corporate banking services, giving them a distinct competitive advantage
in the marketplace.
By providing a service model alternative, Metavante Image Solutions is giving many
financial institutions an opportunity, for the first time, to capture all of the
unique benefits of merchant capture. To provide valued commercial customers the
ability to electronically deposit business checks to their DDA accounts without
leaving the office. A solution designed to eliminate the transportation of paper
deposits, electronically consolidate deposits from distant locations, improve cash
flow, and reduce multiple bank relationships. Additionally, your commercial customers
will no longer be tied to branch hours for current-day processing.
SendPoint: Merchant is designed to serve businesses with single or multiple offices
or retail locations in industries including insurance, healthcare, retail, property
management and brokerages.
The migration to a merchant capture service is a growing trend among financial institutions.
It arises out of the need to resolve an important issue - how to control pace and
cost in line with increasing volumes? SendPoint: Merchant allows you to align seamlessly
with the changing needs of your customers. All this without the challenges of implementing
and operating in-house software.
SendPoint: Merchant puts you in control
Customer benefits
- Accelerated funds availability - same or next day availability of funds as
checks can be deposited immediately as they are received at the merchant site or
point-of-sale.
- Consolidation of accounts - elimination of multiple accounts simplifies reconciliation
- Reduce trips to the bank - customers will no longer need to drive to a branch
to make daily deposits
- Reduced Errors - "direct send" eliminates re-keying and reduces posting errors
and image quality assurance detects and repairs suspect images in "real time" as
required
- Less risk of returns and exposure to fraud - shortened collection cycle narrows
the window for check fraud with faster authentication and earlier notification of
potentially fraudulent items.
Institution Benefits
- Reduced workloads and staffing - by truncating the flow of costly paper check
processing
- Accelerated time to market - through adoption marketing program, fulfillment,
installation and support services.
- Customer loyalty and consolidated relationships - providing simplification
of banking relationships and allowing businesses to break geographic dependencies
and consolidate their payments into a single preferred bank
- Expanded reach - by allowing your institution to compete for "out-of-town"
merchant and retail accounts that were previously not geographically viable
- Expanded market share - attract new merchant / commercial business customers
with a distributed capture solution based on "where capture occurs"
- Strategic evolution - through Deposit Aggregation allows addition of other
distributed capture points of presentment through common infrastructure and technology.