Leading Regional Bank Chooses BPN to Offer B2B Customers Streamlined Automated Electronic Payments to Network Participants
Billtrust, a B2B accounts receivable automation and integrated payments leader, announced that Arvest Bank, owner and operator of 14 locally managed banks in Arkansas, Oklahoma, Missouri and Kansas, has joined its Business Payments Network (BPN) as a provider partner, streamlining electronic B2B payments for its corporate clients. Participating Arvest customers are now able to accelerate and simplify the payments process by automating electronic payments to Billtrust’s network of suppliers, distributors and vendors while scaling virtual credit card adoption.
“We are pleased that Arvest Bank is now a part of BPN”
“BPN gives Arvest customers access to additional suppliers while streamlining payments for both suppliers and buyers, enabling them to be sent in suppliers’ preferred formats,” said Keith Zollicoffer, Director of Commercial Credit Card Solutions, Arvest Bank. “Driving more electronic spend and promoting digitization helps equip our clients’ businesses for the future while maximizing our level of service and the value we provide.”
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“We are pleased that Arvest Bank is now a part of BPN,” said Flint Lane, CEO, Billtrust. “At a time when digitization is more important than ever, Arvest’s ability to maximize supplier electronic payments through BPN offers their customers a competitive advantage.”
Arvest Bank joins BPN following Billtrust surpassing $1 billion in supplier invoices delivered to accounts payable (AP) portals in 2021, its largest single-year total and a 58% increase over 2020. The dramatic rise can be attributed to increased BPN adoption, which began enabling invoice presentment to AP portals in addition to its existing payment and remittance acceptance capabilities.
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About Billtrust
Billtrust is a leading provider of cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. Accounts receivable is broken and relies on conventional processes that are outdated, inefficient, manual and largely paper based.
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