Download - Perspective from the Private Sector
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Collection Best Practices and Tools
Perspective from the Private Sector
Wendy Sifford, ModeratorGovernment Banking Relationship ManagerNovember 1, 2013
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U.S. Bank Retail CollectionsJessica Rogers & Kathleen Legg
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Allow individuals or companies to authorize one-time or recurring debits to checking or savings accounts
Agency controls timing and collection efforts Efficient and cost effective
ACH Direct DebitWendy Sifford & Tutti Souders
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Payment Authorization Manager is a web based service that allows ACH originators to present authorization and enrollment forms electronically to consumers and corporate trading partners
ACH receiver authenticates to the system, consents to e-signature, and completes the form. Both the originator and the receiver will get a final copy of the form and the e-sign consent for their records
ACH Pre-Authorization ManagerWendy Sifford & Tutti Souders
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Provides a single point of entry for electronic payment processing
Enables your customers to make payments via the Web, IVR, and live agent
Processes settlement through Bank (ACH) and Credit Card Processor
Seamlessly integrates with any agency, call center, or application
Incorporates leading edge technology to provide configurable application and user interfaces
Should adhere to highest industry standards for security
Online PaymentsOnline Payments
Online PaymentsWendy Sifford & Tutti Souders
Banking Partner
Merchant Processor
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Is it allowed? Collect payment while you have individual on phone, in
person or by mail Convenient payment option Easily handle recurring and installment payments Online, terminal and mobile options
Credit Card AcceptanceWendy Sifford & Tutti Souders
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Mail Pickup :• Early pick up directly from Post Office
Processing:• Following Agency specific instructions
• Allows agency to reallocate resources
Reporting:• Online
• Images
• Transmission files
Security• Segregation of duties
• Secure facility
LockboxWendy Sifford & Tutti Souders
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Consumer ‘A’
Consumer ‘B’
Bank
OnlineResources
CheckFree
Agency
ABC CreditUnion
Typical ‘Online Payment’ Flow
E-LockboxWendy Sifford & Tutti Souders
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CheckFree
BPS# 4
RPPS
Electronic Remittance File
One credit is posted to your account daily
Agency
OnlineResources
Metavante
E-LockboxWendy Sifford & Tutti Souders
E-Lockbox Payment Flow
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Depositing checks is as simple as scanning them at your PC
simple as scanning checks at your PC to deposit domestic checks without going to the bank
As complex as you require to process remittances and import data to update your Accounts Receivables
Remote Deposit CaptureWendy Sifford & Tutti Souders