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Perspective from the Private Sector. Collection Best Practices and Tools. Wendy Sifford, Moderator. Government Banking Relationship Manager. November 1, 2013. U.S. Bank Retail Collections Jessica Rogers & Kathleen Legg. ACH Direct Debit Wendy Sifford & Tutti Souders.

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perspective from the private sector

Perspective from the Private Sector

Collection Best Practices and Tools

Wendy Sifford, Moderator

Government Banking Relationship Manager

November 1, 2013

slide3

ACH Direct DebitWendy Sifford & Tutti Souders

  • Allow individuals or companies to authorize one-time or recurring debits to checking or savings accounts
  • Agency controls timing and collection efforts
  • Efficient and cost effective
slide4

ACH Pre-Authorization ManagerWendy Sifford & Tutti Souders

  • Payment Authorization Manager is a web based service that allows ACH originators to present authorization and enrollment forms electronically to consumers and corporate trading partners
  • ACH receiver authenticates to the system, consents to e-signature, and completes the form. Both the originator and the receiver will get a final copy of the form and the e-sign consent for their records
slide5

Online PaymentsWendy Sifford & Tutti Souders

  • Provides a single point of entry for electronic payment processing
  • Enables your customers to make payments via the Web, IVR, and live agent
  • Processes settlement through Bank (ACH) and Credit Card Processor
  • Seamlessly integrates with any agency, call center, or application
  • Incorporates leading edge technology to provide configurable application and user interfaces
  • Should adhere to highest industry standards for security

Online Payments

Banking Partner

Merchant Processor

slide6

Credit Card Acceptance

Wendy Sifford & Tutti Souders

  • Is it allowed?
  • Collect payment while you have individual on phone, in person or by mail
  • Convenient payment option
  • Easily handle recurring and installment payments
  • Online, terminal and mobile options
slide7

LockboxWendy Sifford & Tutti Souders

  • Mail Pickup :
    • Early pick up directly from Post Office
  • Processing:
    • Following Agency specific instructions
    • Allows agency to reallocate resources
  • Reporting:
    • Online
    • Images
    • Transmission files
  • Security
    • Segregation of duties
    • Secure facility
slide8

E-LockboxWendy Sifford & Tutti Souders

Typical ‘Online Payment’ Flow

Bank

Consumer ‘A’

CheckFree

Agency

Online

Resources

ABC Credit

Union

Consumer ‘B’

slide9

E-LockboxWendy Sifford & Tutti Souders

E-Lockbox Payment Flow

Metavante

Online

Resources

Check

Free

BPS

# 4

RPPS

Agency

Electronic Remittance File

One credit is posted to your account daily

slide10

Remote Deposit CaptureWendy Sifford & Tutti Souders

  • Depositing checks is as simple as scanning them at your PC
  • simple as scanning checks at your PC to deposit domestic checks without going to the bank
  • As complex as you require to process remittances and import data to update your Accounts Receivables
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