Integrated AP, AR and cash flow management capabilities
The bank is the first to adopt the Bill.com platform, which provides integrated AP, AR and cash flow management capabilities (view press release). The Bill.com solution automates manual processes and facilitates the sending and receiving of payments through multiple payment channels. The platform provides a cash flow dashboard for control over expenditure with online banking as the core cash flow management tool, as opposed to spreadsheet-based accounting. Bill.com states that customers login to the platform on average 2 times per day to perform financial tasks such as following up on a receivable, reviewing and approving bills, or making payments.
Bill.com is offering banks the option to integrate existing online banking products with the Bill.com solution. Branding customization options are available.
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