Leading Midwestern Financial Institution Enhances Client Lockbox Capabilities With Cutting-Edge Remittance Application
Commerce Bank and WAUSAU together announced the Kansas City, Missouri-based financial institution has named WAUSAU its end-to-end remittance solutions provider and is utilizing WAUSAU’s industry-leading ImageRPS application for retail lockbox operations.
The implementation of the WAUSAU solution significantly enhances Commerce Bank’s retail lockbox capabilities for its clients. The ImageRPS solution allows Commerce Bank to implement both Accounts Receivable Conversion (ARC) and Image Exchange, and enhances exception item processing through the Web Exceptions performance module. The WAUSAU remittance offering also provides Commerce Bank with leading-edge technology for implementing Back Office Conversion (BOC) payment processing for its customers.
With the goal of securing ARC and Image Exchange capabilities for retail lockbox on a more competitive and innovative platform, Commerce Bank selected WAUSAU as its business partner, based on WAUSAU’s leading-edge technology capabilities and reputation in the remittance industry.
“When selecting the ImageRPS application from WAUSAU, we were looking for enhanced capabilities to process retail lockbox payments and deliver tremendous value for our customers,” said Bruce Bienhoff, vice president, Commerce Bank. “At Commerce Bank, we have been processing remittance payments for nearly 60 years, and ImageRPS provides us with the necessary technology to continually provide our customers the most efficient lockbox services on the market.”
Since the 1950s, Commerce Bank has provided remittance-processing services to a diverse set of customers. The WAUSAU remittance application represents the latest piece of cutting-edge technology deployed at the financial institution, as Commerce Bank continues its commitment to deliver effective solutions for its customers. Commerce Bank offers customers innovative remittance processing systems for both retail and wholesale lockbox services from a single vendor by deploying WAUSAU’s ImageRPS for retail lockbox, and the integraPAY® solution for wholesale lockbox customers.
“WAUSAU is the industry’s leading solution ARC provider, with our ImageRPS solutions processing more than one-third of ARC conversions annually,” said Kathy Strasser, senior vice president, Remittance and Enterprise Content Management Solutions for WAUSAU. “Our ImageRPS retail solution provides state-of-the art features and functionality for Commerce Bank’s lockbox customers, allowing them to increase the speed of their money movement through ARC and Image Exchange.”
WAUSAU’s ImageRPS solution offers advanced transaction technology that is flexible and scalable for the customer, whether an organization receives recurring business or personal checks, partial- or full-remittance payments or single check or full-page transactions.
About Commerce Bank
Commerce Bank is the principal subsidiary of Commerce Bancshares, Inc. (NASDAQ: CBSH), a $15.5 billion regional bank holding company. For more than 140 years, Commerce has been meeting the financial services needs of individuals and businesses. Commerce provides a diversified line of financial services, including business and personal banking, wealth management and estate planning and investments through its affiliated companies. Commerce currently operates in approximately 360 locations in Missouri, Kansas, Illinois, Oklahoma and Colorado. Commerce also has operating subsidiaries involved in mortgage banking, leasing, credit-related insurance, venture capital and real estate activities.
For additional information, please visit http://www.commercebank.com or email mymoney@commercebank.com.
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 www.wausaufs.com.