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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. 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

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  1. Perspective from the Private Sector Collection Best Practices and Tools Wendy Sifford, Moderator Government Banking Relationship Manager November 1, 2013

  2. U.S. Bank Retail CollectionsJessica Rogers & Kathleen Legg

  3. 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

  4. 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

  5. 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

  6. 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

  7. 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

  8. E-LockboxWendy Sifford & Tutti Souders Typical ‘Online Payment’ Flow Bank Consumer ‘A’ CheckFree Agency Online Resources ABC Credit Union Consumer ‘B’

  9. 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

  10. 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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