Remote Lockbox

Remittance Processing Goes Remote

The current Coronavirus pandemic has every financial institution and processor scrambling to implement their pandemic plan that has been gathering dust on the shelf for years.  Every major city has implemented a “work from home” mandate for all non-essential personnel.  Those that keep the financial systems moving, including the processing of checks, are considered essential activities.  But having someone go to a location to physically touch thousands of pieces of mail, to open envelopes and run checks and remittances through scanners, represents a risk to those processing. It is safer for processing personnel to work from home. But then how would all those payments get captured?

U.S. Dataworks’ clients using the Clearingworks platform are taking full advantage of scanner flexibility and distributed workflow to enable work from home during this social distancing time.  This includes TWAIN compatible scanners, the type commonly found in many home or small business offices.  Most technology providers of remittance processing are tied to a specific set of scanners. But Clearingworks supports traditional check scanners as well as basic office scanners which simplifies this transition to remote processing for our clients.  Using the web interface and a scanner that might already be in existence, a business’ worker can process payments from home exactly as they would have in an office environment.

In addition, some larger processing centers are being asked to act as back up remittance processing services for government agencies or other businesses needing to keep their employees at home.  In effect, to “stand in” and capture work in a controlled setting, then allowing the government or business to review the payments captured, cleared exceptions and complete the process as needed for posting to cash application.  Clearingworks is specifically designed to scale work up and down as business volumes and scanning locations change.

Since Clearingworks is a web-based, SaaS service, it is easy to distribute the work to remote locations while maintaining a centralized audit and control center for management oversight.  Additional security, such as two-level approval process all work can still be performed in this new distributed work environment.  And while scanning may be focused more on checks and remittances, the pandemic might induce more support for electronic channels. Clearingworks provides an integrated workflow to allows our clients to easily adapt to changing consumer behaviors based on stay at home orders.

It is clear more consumers and businesses are looking for ways to use technology for tasks such as mailing check payments. COVID-19 might be changing how consumers and businesses pay from now on.  If you are locked in a fixed business process contact one of our payment specialists at info@usdataworks.com to plan a path forward.