Why The Time Is Right For Banks To Tap Into Integrated Receivables
Summary
FinTech firms are delivering technology solutions to banks that can help them maintain their customer relationships — and generate income. DadeSystems CMO Tom Berdan told PYMNTS in an interview that the first reason is to “attract and retain corporate customers.” The second reason is that as part of generating those deposits they will hopefully receive some fee income from those customers by providing services to them. And, on the lending side, to the extent that a bank is offering both a loan and treasury management services to a corporate, they have the entire relationship with that particular customer. And the banks have done a good job standing up that solution to handle the check payments from those corporate customers. The net of all that, Berdan says, is that corporations today are finding that traditional lockbox services are inadequate.
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