Third Party Service Provider – NSF Enterprise Check Recovery Software
Overview:
Collection agencies on the cutting edge understand the value of electronic payments and are working with third party service providers to electronically process payments “live” in the call center or have payments integrated on-line or with an IVR.
You may also find opportunities within the financial sector that are looking for ways to increase their fee income. There is additional revenue to be obtained from an NSF transaction. The source of the incremental fee income is not the bank’s customer base; the additional income is from the check writer that wrote a bad check to the bank’s commercial customer- he most likely does not have a direct relationship with the bank.
NSF Check Processing automates and streamlines collection, administration, reporting, letter writing and accounting functions, giving you the results you need. The application allows you to develop and adapt as your business needs change. Business rules may be defined at a hierarchal level, settings at the enterprise and single merchant level; completely automating your operation to maximize profit and work flow.
NSF Check Processing is hosted on a secure site, proven and flexible system that offers all the tools necessary to increase your efficiency, effectiveness and profitability.
Realized Benefits:
• Dramatically improves the collection of bad checks for business customers
• ACH transactions have additional representment rights, targeting payroll dates and Fridays- significant benefit to any bank’s commercial accountholders
• Creates recurring fee income for the bank
• Merchant and or bank can access online return item and check detail
Merchant Web Reporting Portal
Affirmative’s provides an Internet based merchant reporting portal that includes a current snapshot of recent NSF check status activity along with historical collection information. The merchant site is fully branded and you may choose to provide your customer with a single sign on, for integration purposes with their own website if needed.
Affirmative’s advanced reporting technology lets you control the way return items are handled on-line. The merchant, using a web browser, is able view and retrieve information on their entire returned check program or on a specific store location. For example, an authorized user can view statistical information on the number of checks and returned items were recovered over the last year for your entire business; and further drill down to include the types of returns received, i.e. NSF or uncollected. For NSF or uncollected items that remain pending due to item representment; the merchant can further drill down and view overall collection history for a specified date range. In addition to the standard reports available, the user may create their own customized reports using an intuitive report wizard that steps a novice user through the entire report creation process.
