Wachovia’s Treasury Services Division has introduced an Accounts Receivable Conversion (ARC) service for U.S. retail lockbox customers. The service converts eligible check payments to Automated Clearing House (ACH) debits when processing customer remittances. The bank said that its Retail Lockbox ARC service would provide expedited, predictable funds availability, that would enable organizations to more quickly and confidently deploy their funds. Retail Lockbox checks are scanned to identify transactions that are ACH eligible. Eligible transactions are then converted to ACH debits and routed through the ACH network for collection. Funds are deposited into the customer’s account the next day. ARC transactions returned for insufficient or uncollected funds can be automatically re-deposited or re-presented two additional times, whereas paper checks can only be re-presented once.
UK firms investment in training and development will increase, on average, by a fifth in the next year, claims Robert Half recruitment after interviewing 100 financial services (FS) executives.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.