ConnectOne Bank, a commercial bank with locations across New York and New Jersey, has selected CheckAlt, the largest independent provider of item processing and treasury management solutions in the U.S., as a payment solution for lockbox, automated clearing house (ACH) and integrated payables.
“We are delighted to work with CheckAlt as a collaborative partner furthering our payments capabilities,” said ConnectOne Bank President Elizabeth Magennis. “CheckAlt’s straightforward on-boarding, clear accountability, and access to representatives sets them apart in this industry, and our partnership strengthens our bank’s ability to serve corporate clients in the New York-New Jersey area and beyond and continues to build our robust bank eco-system.” In addition to lockbox processing, ConnectOne Bank has decided to leverage CheckAlt for integrated payables to address its client base’s evolving needs and increasing appetite for convenient, digital solutions.
The CheckAlt platform enables the bank’s business clients to execute vendor payments using the full gamut of payment modalities including ACH, check, and virtual card. Each of these solutions allow business clients to automate and streamline payments, saving business owners valuable time and money.
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In 2016, professional services firm PWC predicted that consumer banking and payments would be the two sectors most disrupted by fintech over the next 5 years. Today, payments remains one of the most disrupted, future-forward fintech sectors impacting banking.
“As the house of payments, we at CheckAlt pride ourselves on our customer-centric focus, ability to accommodate bank corporate customers of any size or industry, and provide simplified processes for adding new services, all which allowed ConnectOne Bank to expand their digital strategy,” said CheckAlt Co-Chairman and CEO Shai Stern. “Being just a phone call away means clients like ConnectOne Bank receive the personal touch they prefer, particularly in our current business environment.”
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