RemitStream® Retail Lockbox from Fiserv supports the efficient processing of low-dollar consumer-to-business payments accompanied by machine-readable documents.
RemitStream Retail Lockbox delivers outsourced lockbox services designed to speed the processing of consumer-to-business payments – helping improve cash flow for your customers while building revenue for your financial institution. These typically low-dollar payments are accompanied by a machine-readable coupon or other document, which enables high-speed, automated processing on state-of-the-art equipment.
Our retail lockbox services accept smaller monthly volumes than many competitors. A streamlined, customizable workflow accepts all types of payments and supports paperless processing. Customers receive a single, consolidated electronic transmission for the automated update of their accounts receivables files.
Images of checks and remittance documents are accessible online within hours of processing and retained in a standard image archive for 180 days with the option to expand to long-term archival of one, three or seven years.