The property management market is a prime target for lockbox services. RemitStream® Property Management Lockbox from Fiserv offers specialized lockbox services that are designed to help these customers improve cash flow, increase efficiency, boost accuracy and reduce paperwork.
Ongoing consolidation, increased competition and new government regulations create challenges for property managers. Leading property management companies are using technology to increase the efficiency and quality of their services. Remittance Solutions from Fiserv offer financial institutions a way to help property managers and the associations they manage to automate assessment collection and processing, increase productivity and reduce operating costs.
RemitStream Property Management Lockbox enables a smooth transition from paper to electronic payments processing. Residents or homeowners send their payments and a machine-enabled coupon to a dedicated P.O. Box. Images are captured, coupons are read and items are processed automatically – greatly expediting the payment process.
An add-on tool, RemitStream Exception Management streamlines exception handling by enabling property managers to review and repair exception items online, so they are deposited rather than returned. With our online lockbox viewing and reporting solution, RemitStream Receivables Online, property managers can view check and coupon images online the same day they are processed. Items can be searched for by homeowner association (HOA) number or other data. Special property management lockbox reports are also available online.