Managing timely payments information for customer service, working capital management, auditing and regulatory compliance is an increasingly difficult challenge. Manual and semi-automated accounts receivable (AR) systems – and traditional lockbox processing systems – are not enough.
Kofax iRemit is a cloud-based platform for banks and third-party lockbox providers to help customers improve remittance data management – all in a highly secure and compliance environment.
iRemit provides the anytime anywhere access to payments and remittance information that businesses need for working capital management, customer service and compliance and control.
Kofax iRemit enables businesses to:
Reduce operations costs
Increase employee productivity
Improve information quality and compliance
Enhance customer service and business value
Banks and third-party lockbox providers can use Kofax iRemit to:
Differentiate their services
Strengthen existing customer relationships
Generate new revenue streams
Attract customers from lucrative markets
Preserve the lockbox franchise
4/5 & 2/3
Used by four of the five top U.S. banks and two of the three largest U.S. third-party lockbox providers
50+ billion remittance documents processed
$360 billion worth of receivables transactions per year
Manage Receivables Information with Security, Scalability, Compliance and Control
iRemit enables distributed access to payments and remittance information and offers a robust toolset for AR processing:
Store, manage and retrieve ACH information in a centralized location.
Improve customer service with features like exceptions decisioning, search, item maintenance, data exchange with other systems and reporting.
Stay compliant with integrated HIPAA, PCI, BSA, FFIEC and SSAE 16 compliance standards.
High Reliability and Security
Trust our fully redundant architecture with automated failover and secure hierarchical user access, industry-leading audit tracking and reporting.
Flexible and Scalable
Configure user experience, workflows and business rules and load hundreds of millions of images each month.