Continued Enhancements for OBD Customers

Published 6/8/23

Customers with Online Bank Direct will see payments being processed much faster in the next coming months. This means the Pending Payments page, where you manually match payments to invoices, will have payments available to you earlier in the day. This enhancement follows the previous improvements already made to OBD over the past few months, including consolidated funding and reporting, a higher auto-match rate, and more.

Don’t have OBD? Here’s a Brief Overview:

Online Bank Direct (OBD) provides a way for you to spend less time matching check payments with open invoices, simplifying the process of receiving checks from your customers who send you payments using their Bank Bill Pay solution.

With Online Bank Direct, customer payments are received and reported to you in your Biller Portal. The system will automatically match what it can. The few that do not match are presented to you in a simple interface, all you have to do is click once to make the match. Manual matches are remembered so they can auto-match in the future. Once payments are matched, they are settled into your bank account and are easily reconciled.

Benefits include:

• Reduction of manual processing with auto-match
• Significantly decreases the number of bank-issued paper checks
• Auto-assigns payment to more than one invoice, if applicable
• Simplifies reconciliation and easily exports reports for all transactions
• Easy-to-use interface

For more information or to sign up for OBD, contact us today