Partnership to provide unified, robust lockbox experience for bank’s corporate customers
NORCROSS, Ga. – April 7, 2014 – TransCentra, a leading provider of billing and payment software and services, announced today that RBS Citizens has selected the company to deliver wholesale lockbox capabilities to the bank’s commercial customers.
RBS Citizens had launched a strategic investment plan to upgrade its full suite of cash management services including its wholesale lockbox offering. The bank chose TransCentra as the ideal partner to consolidate these services and deliver a successful conversion because of the company’s stability, expertise, commitment to lockbox operations and attention to regulatory compliance.
“Our partnership with TransCentra allows us to expand the type and quality of lockbox services that we can offer,” said Matt Richardson, senior vice president and head of treasury solutions, RBS Citizens. “We made a concerted effort to improve the tools and technology solutions we deliver to customers, and lockbox services are a large part of our holistic approach to serve their treasury management needs. In addition to the greater functionality and flexibility, TransCentra enables us to provide a cohesive, consistent experience to all corporate customers across each of our locations.”
TransCentra will operate RBS Citizens’ lockbox network using its Transaction Management System (TMS) platform, which is scalable and serves as a single hub for wholesale, wholetail, retail and remote lockbox processing. TransCentra’s services will also be incorporated into RBS Citizens’ accessLOCKBOX™ product, a fully integrated lockbox network across five sites, for faster access to payment data, online decisioning, remote lockbox services and other quality enhancements.
“RBS Citizens is dedicated to delivering top treasury solutions for its corporate customers,” said Lynn Boggs, CEO, TransCentra. “Our commitment and expertise in payment processing services gives RBS Citizens a unified lockbox experience and continual access to the latest technology updates that will greatly benefit the bank and its customers for years to come.”
For more information about TransCentra’s Private Label services, please visit:
About RBS Citizens Financial Group, Inc.
RBS Citizens Financial Group, Inc. is a $127 billion commercial bank holding company. It is headquartered in Providence, R.I., and through its subsidiaries has approximately 1,400 branches, approximately 3,600 ATMs and more than 19,000 colleagues. Its two bank subsidiaries are RBS Citizens, N.A., and Citizens Bank of Pennsylvania. They operate a 12-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont; and the Charter One brand in Illinois, Michigan and Ohio. RBSCFG has non-branch retail and commercial offices in more than 30 states. RBSCFG is owned by RBS (the Royal Bank of Scotland Group plc). RBSCFG’s website is citizensbank.com.
Norcross, Ga.-based TransCentra is America’s largest outsourced remittance processor, one of the largest outsourced billers and a top provider of imaging and payment processing platforms and software. An industry leader in innovative multichannel billing and payment solutions, TransCentra is trusted by many of the largest and most recognized names in both the consumer and business-to-business markets across a variety of industries, including financial services, insurance, healthcare, utilities and telecommunications. For more information, visit www.transcentra.com.
Media Contact for TransCentra