That is why one goal of the Lockbox 2K system is to provide customers with access to images of remittance, check, and related correspondence throughout the day. The new processing platform supports web-browser technology that will give NationsBank customers secure encrypted access to the information and images over the Internet. Internet access also allows multiple areas and individuals within the company to view receivables information simultaneously. The platform will also support robust search capabilities and event notification options, providing customers with a viable interactive receipts management tool. For example, customers who want to know when a particular payment is received by the bank can request the system to notify them automatically, a process commonly known as event notification.
Customers can also select how and when to be notified on a daily basis.
This feature is especially useful to customers who want notification of a particular payment one day, and notification of payments over a certain dollar amount the next. Finally, the new platform will generate color images of remittance documents, regardless of size or shape. Color provides a clearer copy of green bar paper that is often used in the invoicing process. Sharper images of handwritten notes or markings that often explain payment terms or discounts taken make it easier to resolve discrepancies between the invoice amount and the actual payment. We are extremely pleased to have this next generation of Lockbox imaging within our grasp.