Solutions Designed to Drive Efficiency
Successful financial performance is significantly impacted by the efficient processing of business receivables. Key’s dedication to operational excellence focuses on increasing the contribution receivable management can make to the optimization of your business.
Accelerating your cash flow is an essential element to successful cash management. We help you do that by decreasing collection cycle time, minimizing collection float, reducing foreign exchange exposure and improving management of international payment risk and supply chain collections.
Our relationship managers start by getting to know your business, how it works, its domestic and international operations – and its unique challenges and opportunities. We then leverage a robust suite of products that can help make your receivables function highly efficiently.
Our products that help optimize the receivables function include:
Vaults and branches are a symbol of the trust between a bank and its customers; our cash processing services are designed accordingly to provide you with full confidence in the management of your business’ cash and checks. For retailers and other cash-intensive businesses, we specialize in receiving and processing cash securely and efficiently, providing dual and triple verification procedures, random cash and teller audits, re-verification of large bills, and nightly drop box acceptance.
Our cash vault is highly automated to ensure efficient operation and to eliminate errors. Key also provides automated voice order for coin and currency at selected sites, to support operational efficiency for your cash needs.
E-Bill & Collect
Businesses benefit when it’s easy for customers to pay them. Our integrated suite of Electronic Bill Presentment and Payment (EBPP) services, E-Bill & Collect, was designed to enable businesses to collect recurring bill payments from consumers and businesses through multiple channels (online, telephone, auto-pay).
E-Bill & Collect can be integrated with your website, accounting system and customer service telephone system. This integration includes the ability to brand the system with your logo and to accommodate multiple forms of payment including e-Check (ACH); Credit Card (VI, MC, DI, AX); and Debit Card (VI, MC).
For telephone payments, E-Bill & Collect can include an interactive voice response (IVR) for automated acceptance and a Customer Service Representative (CSR) portal that allows your employees to create payments based on telephone interactions with your customers.
KeyBank offers a robust set of payments solutions for the healthcare, real estate, and public sector fields. Our specialty financial teams listen to your needs and deliver strategic, proactive solutions, resulting in better-managed receivables, increased security, greater efficiency, and stronger reporting.
Accepting different types of payments is an everyday part of your business, but relying on multiple methods of receiving your payment data shouldn’t be. Save time and post your receivables efficiently with KeyBank’s Integrated Receivables solution. Post all of your payment types at one time, in a single file, to improve your Days Sales Outstanding (DSO) and overall Accounts Receivable (AR) processing.
With Integrated Receivables, you receive a single consolidated file with all of your lockbox checks, ACH, and wire payments that can be directly loaded into your AR system. You can specify whether you receive BAI, or custom files, and when you receive the files, either once a day, 4 times a day, or every 15 minutes.
Imagine never needing to make another deposit run. Key Capture® is our online remote deposit capture system, and it can help eliminate time consuming trips to the bank, improving employee productivity while increasing potential for interest income. With one of the latest same day deposit cut-off times (11:00 pm Eastern), Key Capture empowers businesses to deposit checks from virtually any location, at any time.
To use Key Capture, all you need is a check scanner and an Internet-enabled computer. With a more efficient deposit process, your business can expedite deposits, reduce float, and simplify your banking strategy all from the comfort of your office.
Key Image Cash Letter
In businesses that process a high volume of checks, check processing can contribute meaningfully to profitability by maximizing liquidity and income. By accessing the collected funds sooner, there is more time to earn interest income.
If your business requires a high volume of check processing, Key Image Cash Letter can help you to:
- Meet earlier deposit deadlines (improved funds availability)
- Reduce transportation costs
- Take advantage of extended deposit windows
- Consolidate banking relationships and reduce fees
- Leverage online access to a complete record of deposit activity
- Accommodate domestic consumer and business checks
Key Image Cash Letter was designed for professional remittance processors using high-speed check scanning and transmission equipment. Our system uses your Image Check Letter (ICL) to make a deposit. In this way, your organization can meet earlier deposit deadlines, view deposit activity online and transmit checks from any U.S. bank.
Manage all of your treasury processes in one convenient online suite of tools, each featuring customizable, user-friendly interfaces and robust security measures. This powerful management system enables you to efficiently organize and implement cash, payable, receivable, and reporting strategies with one central web-based portal. This system serves as your online banking portal, and is also fully integrated with your internal finance functions such as investment management, and accounts payable and receivables.
What if you could simplify and streamline your receivables process? KeyTotal AR, powered by BIlltrust QuantumTM, is an end-to-end accounts receivable solution that streamlines and automates your invoice-to-cash processes, reducing cost and lowering days sales outstanding. You’ll also gain visibility into your invoice-to-cash processes, allowing you to optimize your processes based on industry best practices.
Watch the efficiency of your accounts receivables improve while providing your clients the diverse mix of electronic invoicing and payment options they want.
- KeyTotal AR Invoice
Invoices delivered how your clients want them, whether through electronic channels, including email, fax, bank, mobile, online, and A/P systems, or via print and mail through our eight distribution facilities across North America.
- KeyTotal AR Payments
Give customers the power to view, research, download, print and pay invoices online using a secure, branded electronic invoice presentment and payment (EIPP) portal. Enable customers to quickly receive and pay invoices from multiple vendors in one central location using the payment method of their choice.
- KeyTotal AR Cash Application
Eliminate manual invoice and payment matching. Cash application combines intelligent matching with supervised machine learning to give you automated matching with speed and accuracy.
Keeping receivables information at your fingertips is essential to achieving a strong working capital position.
Managing the receipt and timeliness of your payments is our core competency and provides you with the vital information you need to make business decisions quickly and accurately. Lockbox Solutions at Key provide an end-to-end receivables process designed to expedite the conversion of your receipts into working cash. Improving the speed of collection and posting will help you reduce your average days of sales outstanding and the cost of processing paper checks. Meanwhile, our robust information delivery channels provide you with up-to-date details keeping you well informed.
To get started, one of our experienced relationship managers will work with you to establish the best way to leverage the lockbox functions for your business. Together, we will create a lockbox account solution that is customized for your clients and professional staff needs, designed to drive business performance.
Manage Returned Payments
Returned “non-sufficient funds” checks and other forms of payment are an unfortunate fact of life in high volume businesses. Our returned payments solutions can make managing those situations as efficient as possible, and help to reduce repeat occurrences from the same source.
KeyBank relationship managers will work with you to customize your corporate treasury management solution with the right features to efficiently manage returned payments in the context of your business operations. Features include the identification of returned check makers, next-day notification of returned items online via KeyNavigator® or fax, and multiple check re-presentment formats including image and “Re-presented Check” (RCK). Our systems also consolidate all of your returned items into one account, for ease of management
KeyBank Merchant Services
Retailers know that the ability to accept multiple forms of payment can make the difference between a sale and a missed opportunity. With our merchant services, businesses can conveniently accept multiple payment types, including credit and debit card, gift card and check.
KeyBank provides guidance on options that will be most effective for your business and its customers, including the following:
Accepting paper checks remains a reality for many businesses today, but the processing of checks has come a long way. Our e-check solution strives to take the risk and hassle out of check processing, allowing you to the convenience of accepting checks electronically.
The technology we use eliminates the necessity for deposit runs and increases operational productivity, all while maintaining your revenue stream from check-paying customers. Opting for e-check services can also boost business security, thanks to automated check verification and guarantee services. Our solution can reduce the risk of returned checks, fraud and collection processes.
We’ve streamlined the process so that just like with credit and debit cards, you’ll simply swipe the check through an electronic device, instantly converting it to an electronic file. Batch and check images are then securely uploaded to your account, triggering funds receipt by the next business day.
Processing a high volume of payments? Our virtual merchant accounts provide an instant, virtual payment processing system that increases productivity and reduces fraud risk.
With our complete hosted merchant accounts platform, you can securely accept payments face to face, mobile, online, or over the phone typically in three seconds flat. Easy access from any typical computer enables you to process a full range of payment types, including gift cards, credit or debit cards, and electronic checks. Our merchant accounts’ robust safety features will help you minimize security liability, stay in compliance with the latest industry standards, and reduce fraud with address verification and e-commerce fraud prevention filters.
Our cost-effective payment processing system is also fully customizable, allowing for branded receipts and payment screens uniquely suited to your needs, and fully integrated with shopping carts and other external payment processes to securely streamline transaction processes.
Point of Sale
Retailers understand that easy and varied payment options lead to more sales. Key’s point-of-sale terminals make it simple for retailers of many types and sizes to provide consumer convenience, while also increasing store productivity and cutting administrative costs.
How does it work? Our point-of-sale terminals use wireless, DSL or cable connections to securely process electronic payments. With a high speed Internet connection, payments can process in as little as four seconds. And if your business takes you on the road, our reliable, cord-free wireless terminal runs on rechargeable batteries, using a CDMA Wireless Data network to achieve connection almost anywhere you go to connect with customers. Additionally, KeyBank’s space-saving All-in-One Terminal Solution incorporates a magnetic swipe, check image reader, PIN pad and a fast thermal printer to process all check and card payments efficiently.
Our relationship managers specializing in KeyBank Merchant Services can customize solutions including the above, as well as incorporating the following:
- Electronic Gift Cards: Attract new customers and keep funds secure with gift cards.
- Reporting Solutions: Conveniently access a record of recent deposits, chargebacks and retrieval requests.
- Software and Internet solutions: Securely manage credit card solutions from any Internet-enabled computer.
- Dynamic Currency Conversions: Let international customers pay in their currency, no minimums or fees.
Learn more about our Merchant Services
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At KeyBank, we’re invested in the prevention and detection of fraud.
Fraud & Security
Protecting your company from fraud and business identity theft is a critical component of every treasury management system. According to the Association for Financial Professionals (AFP) 2015 Fraud and Control survey, 62% of respondents said they had experienced attempted or actual payment fraud in 2014.
Our relationship managers work with you to leverage Key’s fraud protection and information security resources to protect your company and its operations. Regularly updated systems designed to protect you and your customers can greatly reduce vulnerability to online fraud that leads to crimes like identity theft.
To help you keep your business information secure, we offer multiple ways to protect your accounts and the sensitive information related to them such as personal information of customers and employees. For more information, you can download our helpful white paper that provides actionable suggestions and a checklist of tips for protecting your business.
At KeyBank, we’re invested in the prevention and detection of fraud.
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