RBS Citizens has chosen US-based billing and payment software provider TransCentra to offer wholesale lockbox capabilities to its commercial customers.
Recently, RBS Citizens had launched a strategic investment plan to upgrade its full suite of cash management services including its wholesale lockbox offering.
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Under the deal, TransCentra will operate RBS Citizens’ lockbox network using its Transaction Management System (TMS) platform, which is scalable and serves as a single hub for wholesale, wholetail, retail and remote lockbox processing.
Additionally, RBS Citizens will also integrate TransCentra’s services into its accessLOCKBOX product to offer faster access to payment data, online decisioning, remote lockbox services and other quality enhancements.
RBS Citizens senior vice president and head of treasury solutions, Matt Richardson, said: "Our partnership with TransCentra allows us to expand the type and quality of lockbox services that we can offer.
"In addition to the greater functionality and flexibility, TransCentra enables us to provide a cohesive, consistent experience to all corporate customers across each of our locations."
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By GlobalData
