Truist Financial has introduced a new solution aimed at enhancing the efficiency and control of billing and payment operations for its wholesale payments clients.
The bank’s Electronic Bill Presentment and Payment (EBPP) platform offers a modernised approach to managing payments, designed to streamline operations, improve client satisfaction, and support business growth.
It will enable businesses to boost cash flow through faster payment processing, simplify operations with automated workflows, as well as improve security with advanced fraud prevention tools.
By automating tasks such as invoicing and payment reconciliation, Truist Financial’s clients can focus on serving their customers and expanding their businesses.
The EBPP solution will be available starting next month to all commercial and corporate clients along with their customers. It is designed to meet the needs of various sectors, including utilities, financial services, healthcare, and municipalities.
Besides, the platform offers a wide range of payment options, including online, mobile, text, digital assistant, and intelligent voice response (IVR), providing flexibility for payers.
For billers, the platform helps in streamlining processes, reducing costs, and improving the payment experience.
The key features of Truist Financial’s EBPP solution include the optimisation and automation of billing and payment processes to minimise manual effort and errors while accelerating cash flow.
It also enhances the client experience with convenient payment options accessible through a customisable portal, provides real-time tracking of payments with detailed reporting, and strengthens security with robust protection of sensitive data.
Truist Financial enterprise payments head Chris Ward said: “As payers increasingly expect digital payment channels, businesses need payment solutions that are secure, efficient and seamlessly integrated into their operations.
“Our new Electronic Bill Presentment and Payment solution helps clients achieve their electronic collection objectives by offering a safe, simple and quick way to accept payments through multiple channels.”
Last year, Truist Financial joined forces with Trovata, a provider of bank application programming interfaces (APIs) and enterprise cash management solutions, to offer clients automated cash forecasting and liquidity management solutions.
