FISC Signs City of Bath to Image Cash Letter Service
Lewiston, ME, September 05, 2008 --(PR.com)-- FISC Solutions has signed contracts with the City of Bath, Maine, to provide image cash letter services for their remittance payments.
FISC, an outsourcing service provider for financial institutions and businesses throughout New England, has provided remittance processing for the City of Bath since 2005. As an enhancement to this service, instead of depositing paper checks on behalf of the city, FISC will prepare an electronic deposit via an image cash letter.
Image cash letters accelerate the availability of funds for check deposits. By eliminating daily paper deposits, instead transmitting them electronically to the city’s bank account, deposits enter the check clearing process immediately.
This cash management product provides, in most cases, a significant increase in funds availability on deposited items. “This is truly a savings opportunity for the City of Bath and all of FISC’s remittance clients,” said FISC CEO and President Carol Sabasteanski.
FISC introduced the image cash letter to its banking clients three years ago and began offering the service to its remittance clients last year. Now, 100% of its banking clients and 30% of its remittance client’s benefit from this cost savings solution.
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About FISC
Headquartered in Lewiston, Maine with offices in Portsmouth, New Hampshire, FISC has provided services and solutions to financial institutions and corporations for more than 30 years. The company designs and implements full-service outsourcing solutions that make the operations of financial, insurance, government, not-for-profit, and other organizations more efficient and more affordable. FISC’s core services include item processing and electronic clearing, software solutions, loan servicing, lockbox and disaster recovery services. In addition, FISC offers comprehensive statement and invoice printing, delivery, design and management. For more information, visit www.fiscsolutions.com or call 1.888.433.4924.
FISC, an outsourcing service provider for financial institutions and businesses throughout New England, has provided remittance processing for the City of Bath since 2005. As an enhancement to this service, instead of depositing paper checks on behalf of the city, FISC will prepare an electronic deposit via an image cash letter.
Image cash letters accelerate the availability of funds for check deposits. By eliminating daily paper deposits, instead transmitting them electronically to the city’s bank account, deposits enter the check clearing process immediately.
This cash management product provides, in most cases, a significant increase in funds availability on deposited items. “This is truly a savings opportunity for the City of Bath and all of FISC’s remittance clients,” said FISC CEO and President Carol Sabasteanski.
FISC introduced the image cash letter to its banking clients three years ago and began offering the service to its remittance clients last year. Now, 100% of its banking clients and 30% of its remittance client’s benefit from this cost savings solution.
###
About FISC
Headquartered in Lewiston, Maine with offices in Portsmouth, New Hampshire, FISC has provided services and solutions to financial institutions and corporations for more than 30 years. The company designs and implements full-service outsourcing solutions that make the operations of financial, insurance, government, not-for-profit, and other organizations more efficient and more affordable. FISC’s core services include item processing and electronic clearing, software solutions, loan servicing, lockbox and disaster recovery services. In addition, FISC offers comprehensive statement and invoice printing, delivery, design and management. For more information, visit www.fiscsolutions.com or call 1.888.433.4924.
Contact
FISC Solutions
Jenny Caron
888-433-4924 ext 2111
www.fiscsolutions.com
Jenny Caron
888-433-4924 ext 2111
www.fiscsolutions.com
Contact
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