US-based Associated Banc-Corp has selected TransCentra, a provider of billing and payment software and services, to provide enhanced payment processing services to its commercial clients.
TransCentra said that its private label lockbox service will deliver faster processing times, reduced mail float and a host of new processing capabilities to the bank’s commercial clients.
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Associated Bank executive vice president of specialized financial services group, John Utz, said: "Our partnership with TransCentra broadens our capabilities in line with national service providers and offers our clients immediate, enhanced wholesale and retail lockbox services with nationwide locations, as well as access to additional enhancements well into the future."
TransCentra CEO, Lynn Boggs, said: "For many years we have been dedicated to the private label processing market, delivering a set of payment processing capabilities that allows our treasury management and financial institution clients to deepen their corporate customer relationships.
"In today’s highly competitive environment, we look forward to helping more organizations like Associated Bank achieve their growth objectives and provide outstanding service."
Initially, TransCentra’s Naperville, Illinois processing facility will serve the bank in order to ensure that the bank clients will have payments deposited and receivables information posted in an expedient manner.
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