California-based Bank of Marin Bancorp has gone live with Metavante’s hosted solution for wholesale and retail receivables management. The implementation of Metavante’s RemitPoint solution provides Bank of Marin with a centralised image-based remittance processing service. The solution allows the bank to remain in control of the strategic aspects of its image lockbox offering, while outsourcing back-end operations and transaction processing.
Managed in a secure data centre, the RemitPoint solution provides the bank with keying, image transmission and web output services, allowing the bank to actively market new lockbox services to its corporate customer base. As a result, Metavante will support the bank in new revenue potential and transaction value, as well as reducing operating costs and improving operational efficiency.
“Bank of Marin has a long-standing reputation of strength and stability in the industry, and throughout our 18-year relationship Metavante has consistently proven that they share these attributes,” said Michael Besselievre, executive vice president and chief information officer, Bank of Marin. “In the search for a remittance solution that best fit our needs, Metavante offered an industry-leading platform on a hosted basis – providing us with the best combination of control over the product and a workable business case.”
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