Bank Up provides on-premises software, scanners, workstations, servers (for larger processors), training, documentation, and customer service for utilities, municipalities, and commercial customers wishing to process their own remittances. Bank Up’s proprietary remittance processing system has been proven nationwide, processing since 2002. Bank Up’s system provides powerful, cost-effective, and flexible processing optimized for customers processing 3,000 – 200,000 remittances per month.

 

How it works:

Bank Up provides FLEX system, including software and hardware, installation, training, and ongoing customer service

Customer personnel receive and open mail, scan remittance documents, and resolve payment discrepancies

The Bank Up FLEX Remittance Processing System

Deposits funds daily to the customer’s deposit account

Updates customers’ accounting or customer information system

Produces processing reports

Stores remittances in searchable Image Archive Retrieval system

Since we use the FLEX RPS for our own lockbox processing, our personnel are extremely knowledgeable about its features and functions, ensuring that our customer service addresses practical applications in conjunction with technical topics

FLEX RPS is offered on purchase and leased bases

The problems we solve:

For customers processing manually:

Labor costs are high

Skilled personnel conduct tedious tasks of opening mail, manually entering data, and/or taking deposit items to the bank for deposit

Knowledgeable accounts receivable personnel retire

Remittances not processed each day may back up, slowing receipts

Payment receipt data can be difficult to track, complicating late payment penalties

Customer service information requests require manual research and multiple calls or emails

For customers with older technology:

Unreliable aging processing equipment

High maintenance costs

Limited functionality

Difficult and time-consuming to access remittance data

Benefits of Flex Remittance Processing System:

For customers processing manually:

Reduce operating costs by 50 – 75%

Accelerate receipt of cash

Free up personnel from tedious clerical tasks

Improve accuracy

Improve our customers’ ability to provide service to their own customers

For customers replacing old processing systems:

Improve reliability

Reduce maintenance costs

Improve access to data

FLEX ● VarFLEX