Leading Financial Institution Seeks to Increase Customer Base through Enhanced Offerings

WAUSAU, the industry leader in distributed payment and document processing, announced that Vermont-based Chittenden Corporation has selected WAUSAU as its end-to-end remittance solutions provider.  Chittenden, one of the largest financial services companies in Northern New England, will utilize WAUSAU’s industry-leading ImageRPS application for its wholesale lockbox processing operation.  ImageRPS will allow Chittenden to perform ARC and Image Exchange, reduce manual keying, enhance its accounts receivable functions, provide additional customer-required billing features, and increase revenue in new markets.

In addition to selecting WAUSAU’s ImageRPS application for wholesale lockbox, Chittenden Corporation is also working with WAUSAU to add additional features and functionality to its existing retail lockbox operations running on WAUSAU’s ImageRPS application.

The ImageRPS solution offers advanced transaction technology that is flexible and scalable for the customer, whether an organization receives reoccurring business or personal checks, partial or full remittance payments, or single-check or full-page transactions. 

With the goal of securing ARC and Image Exchange capabilities for both retail and wholesale lockbox, Chittenden selected WAUSAU as a business partner, based on WAUSAU’s reputation and significant experience in the remittance industry.  Chittenden plans to take advantage of the Web Exceptions module in its retail lockbox solution, allowing for the posting of exception items on a secure Web-based browser for review both internally and at client sites. 

With more corporate customers seeking additional account information from invoices and stubs at the point-of-receipt, Chittenden Corporation will now be able to offer its customers the additional benefits of full-page optical character recognition and reduced key strokes with the ImageRPS Wholesale Lockbox solution.   

“Because we are currently processing retail remittance payments on the ImageRPS application, we already knew that WAUSAU is the premier remittance provider, and, when you have the best provider in the industry, it would have been very difficult to change our remittance processing application,” said Janet Vita, Vice President - Lockbox Manager for Chittenden Services Group.   “With the addition of wholesale lockbox, we will be able to tailor our lockbox services on an individual customer basis, while continuing to process retail payments in a more automated environment.”

“We are very excited to enhance our relationship with Chittenden Corporation by providing a flexible and scalable remittance processing system that offers Chittenden advanced features and functionality for retail lockbox,” said Patrick Brezezinski, Vice President - Remittance Solutions for WAUSAU.  “The addition of wholesale lockbox is positioning Chittenden for increased customer growth, while providing the ability to increase its annual revenue through additional billing modules that are customizable to each customer.”

About Chittenden Corporation
Chittenden Corporation, a $6.4 billion multi-bank holding company, is one of the largest financial services companies in northern New England.  With more than 120 offices and 2,000 employees throughout Vermont, New Hampshire, Maine, Massachusetts and Connecticut, Chittenden serves the banking, insurance and investment needs of a quarter million households, businesses, municipalities and non-profit organizations.  

About WAUSAU

WAUSAU is a premier provider of payment and remittance processing solutions, serving businesses of all types to develop strategies that move money faster.  With its products, services and consulting, WAUSAU works with customers to speed check processing, electronic presentment, ACH payments, transaction processing, distributed capture and enterprise content management.  WAUSAU’s innovative solutions provide results for a wide range of organizations including financial institutions, insurance companies, utilities, retail businesses and governmental agencies.  Find more information about WAUSAU at http://www.wausaufs.com/