Mike Reynolds|Technology Management Resources Inc.
Is lockbox relevant in a dynamic payments landscape if (when) there are no more B2B checks? The answer is yes! It will however, require financial institutions to focus on the strategic importance of extracting value from the payments ecosystem. And that “value” is the remittance data associated with the B2B payment.
There are three key take away’s from this session that will help financial institutions formulate strategies for growing B2B revenue from their payments franchise:
1. All of the SME/experience related to B2B receivables management resides in the lockbox area – whether inhouse or 3rd party. You WANT to leverage it!
2. Deliver receivables management (integrated receivables) benefits to your treasury clients including payment visibility, exception processing/decisioning and improved customer experience (yours and theirs) – it’s a differentiator for your institution
3. Become that “consultative partner” for all things related to payments and receivables. B2B clients need and want to find ways to be more efficient and cost effective in their receivables management activities
Mr. Reynolds is a 30+ year veteran in the banking technology and payments industry. As a frequent speaker at industry payment conferences, Mr. Reynolds brings a broad understanding of the key business, technology and management drivers affecting the payments industry today. This includes a focus on the changing payments landscape where traditional lockbox (checks) and electronic payment channels increasingly intersect. He is currently Vice President at TMR Solutions, Inc.
__________________________________________________________
Approved for 1.5 CTP/CCM Recertification Credits
by the Association for Financial Professionals
Approved for 1 CPE Recertification Credit
by the Board of Public Accountancy
