American Chartered was receiving requests for a retail lockbox solution. So last January, the institution installed a lockbox image processing solution. This application has been extremely successful in processing condominium association payments, explains Kent. The bank processes lockbox payments for a condominium management company, which administers more than 160 condominium associations. These associations may or may not have accounts at American Chartered Bank.
Retail customers receive daily e-mail attached with a file tailored to the customer s specs.
Improve customer service. From Microbanker Banking Technology Strategies , Volume 1, Number 10. P.O. Box 708, Lake George, NY 12845.