Texas-based insurance brokerage firm utilizes natively integrated payments solution to make collecting and reconciling payments speedier for staff
Applied Systems announced that Roach Howard Smith & Barton (RHSB), the exclusive Assurex Global partner in North Texas, has adopted Applied Pay to simplify and speed up their premium collection process. The firm is using Applied Pay with its native integration into its core management system to automate payment reconciliation, reducing the efforts and delays associated with collecting paper check payments.
Financial Technology Insights: SBI Digital Markets, UBS, Chainlink Complete Pilot for Smart Contract Fund Admin
“Our staff experienced a lot of delays waiting for checks to arrive and utilized valuable personnel resources sorting the mail and determining which payments went to which accounts,” said Stacie Rand, AVP, Quality Program Manager, RHSB. “Applied Pay’s convenient payment link eliminates the need for clients to mail in paper checks, ensuring we receive their payments in a timely fashion and can reconcile them with minimal effort.”
Financial Technology Insights: Paxos to Acquire Finnish E-Money Institution Membrane Finance
Applied Pay is a cloud-based electronic payments hub that enables agents and brokers to provide their clients with a secure, online way to pay for new and recurring premiums. Directly integrated into Applied Epic, Applied CSR24 and EZLynx Client Center, Applied Pay provides intuitive, branded checkout pages where policyholders can go to pay for premiums via credit/debit card or ACH bank transfer. It automatically handles payment authorization and tokenizes sensitive information to increase security and ensure compliance. The solution also leverages intelligent automation to reconcile receivables at the account level, reducing the time and effort presently needed to reconcile payments.
Financial Technology Insights: Paxos to Acquire Finnish E-Money Institution Membrane Finance
“Agencies need to be thoughtful and strategic about how they utilize their resources, and unfortunately, manually collecting and reconciling payments squanders valuable time and labor,” said Chase Petrey, President, Applied Pay, Applied Systems. “Applied Pay’s full-cycle accounts receivable capabilities relieve this burden, reducing internal workloads so the RHSB team can devote more time to their clients.”
To share your insights with the FinTech Newsroom, please write to us at sudipto@intentamplify.com
Source – Businesswire
