Banks Drive Improved Customer Service and Increased Revenues by Leveraging Private Label Payment Processing Services from TransCentra

NORCROSS, Ga.--(BUSINESS WIRE)--In the current competitive and regulatory climate, U.S. financial institutions are driven to grow fee-based revenues, protect critical corporate client relationships and expand lockbox capabilities and footprint. In order to address these growing pressures, TransCentra, a leading provider of billing and payment software and services, today announced the broad availability of its Private Label Payment Processing Services, enabling banks to better utilize their existing resources, improve customer service and focus on revenue-generating programs.

“In designing an effective Private Label service, each bank has specific needs that will help them achieve their individual business goals”

“Financial institutions are left with difficult decisions to make between funding new, high growth programs or continuing to invest in and support critically important but slower growing services,” said Lynn Boggs, chief executive officer of TransCentra. “We make these decisions easier by alleviating the pressure on processing support and allowing banks to pursue key initiatives without sacrificing the latest advances in payment technology.”

TransCentra Private Label Services allow the treasury management divisions of financial institutions to offer advanced payment processing services, under their own brand, to their institutional and corporate customers. TransCentra combines the premier capabilities of its wholly-owned and industry-leading Transaction Management System (TMS) platform with the largest outsourced payment processing network in the United States to deliver:

Wholesale Lockbox
Automated Wholesale (“Whole-tail”) Lockbox
Retail Lockbox
Remote Lockbox
Industry Specialized Processing for Property Management, Healthcare
Integrated paper and electronic payment reporting

“In designing an effective Private Label service, each bank has specific needs that will help them achieve their individual business goals,” said Paul Diegelman, senior vice president of Private Label Services for TransCentra. “Because TransCentra brings together our platform and services with the operational expertise of the largest lockbox provider in the nation, we are very flexible and creative in how we devise solutions for our bank clients. As a result, our bank clients achieve benefits that they would be unable to attain on their own or with other service providers.”

About TransCentra:

Norcross, Ga.-based TransCentra is America’s largest outsourced remittance processor, one of the largest outsourced billers and a top provider of imaging and payment processing platforms and software. An industry leader in innovative multichannel billing and payment solutions, TransCentra is trusted by many of the largest and most recognized names in both the consumer and business-to-business markets across a variety of industries, including financial services, insurance, healthcare, utilities and telecommunications. For more information, visit www.transcentra.com.