Mobile Payment Industry News: Sacramento Selects Bank Up's Remittance Processing Solution

Friday, July 24, 2009

Sacramento Selects Bank Up's Remittance Processing Solution

Sacramento selects Bank Up's remittance processing solution

San Ramon, Calif., July 24, 2009 -- The City of Sacramento, capital of the State of California, has selected the outsourced remittance/lockbox solution of Bank Up Corporation, a growing payments processing solution provider to financial institutions and state and local governments, to process payments for its Revenue Division and Police Department.

The Bank Up solution will provide Sacramento with a remittance processing service from its Northern California ASP. The services provided by Bank Up will reduce the Revenue Division and Police Department’s workload since the payments will not be manually processed by City staff. Bank Up’s services will include item processing and image capture, an integrated image archive accessed through the Company’s secure, encrypted Web portal, on-site training for the City’s staff and daily electronic image cash letter deposits to the City’s bank account with Bank of America. This should further reduce work required by the City of Sacramento staff and will insure timely deposits of funds to the Bank. Bank Up will also provide a daily upload to the Revenue Division’s RevenueCollector payment database and the Police Department’s Cry Wolf Alarms and Renewal accounting systems.

Walker Black, Senior Management Analyst for the City of Sacramento Department of Finance stated, “Bank Up’s technical solutions, products and services met the City of Sacramento’s remittance processing needs and requirements. Based on extensive analysis of the City’s remittance processing needs and requirements along with Bank Up’s experience, technical expertise and cost, our staff recommended that Bank Up be awarded the City’s initial remittance processing contract for City invoices. Bank Up demonstrated a strong commitment to customer service in addition to being the cost effective bidder to the City’s RFP”.

“Timely and accurate processing of government payments is critical to maximize cash flow, especially when local governments in California are under tremendous pressure to contain costs,” said Michael Santimauro, CEO of Bank Up Corporation. “Our solutions are available to assist state and local governments improve operational efficiencies and contain escalating costs of payments processing”. Bank Up also provides a Disaster Recovery solution for the State of California’s Treasurer’s Office for item processing.

Bank Up’s remittance lockbox solution is scalable and comprehensive, providing various processing alternatives based on the workload requirements and operational resources available to financial institution and government customers. The solution can either be totally outsourced to the Bank Up ASP, provided through a financial institution in order to provide a solution for their various lockbox customers or installed as an in-house solution tailored to fit the requirements for a specific customer. The solution provided by Bank Up also enables a customer to blend the best of in-house and outsourced processing. In all cases, Bank Up provides its customers with everything required to process remittance payments including the technology, equipment, documentation, training, front-line technical support and system access. In all cases, Bank Up serves as the single point of contact for the support of its customers.

About Bank Up Corporation

Bank Up Corporation is a growing provider of technology solutions and services to financial institutions and government agencies. Bank Up solutions include item and remittance processing solutions, business continuity services, remote corporate capture processing, hosted data back-up and business continuity consulting. Founded in 1989, Bank Up works with more than 70 customers across the country. Headquartered in San Ramon, Calif., the company also has offices in El Monte, CA. Bank Up is SAS 70 Level 2 certified.

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