CHARLOTTE, N.C., April 19, 2018 (GLOBE NEWSWIRE) -- Unity FI Solutions, a leading provider of payment and software processing solutions, announced today its new partnership with Raleigh, North Carolina-headquartered First Citizens Bank through the innovative Smart Returns product.
This strategic partnership was formed when the two industry leaders saw a need to provide a cutting-edge software solution designed to meet the complex bank return needs of First Citizens’ business and commercial customers.
What makes the Smart Returns product so unique? The proprietary software platform showcases a unique Re-presented Check (RCK) solution. Smart Return works by electronically re-presenting returned checks up to two times for collection and lets the client choose the re-presentment schedule. In addition, Smart Returns can help reduce staff-hours spent attempting to collect on return items while significantly reducing collection costs and recovery periods. This can lead to as much as a 90 percent collection rate.
“Businesses that don’t use an RCK solution often spend much longer or never get the money owed to them,” said Stephen Contino, Principal and Co-founder of Unity FI Solutions. “The Smart Returns product takes away the need for First Citizens’ enrolled business customers to manage and collect bank return items. This reduces staffing, reporting, capital investments and frees up valuable resourcing for these businesses.”
For First Citizens, the Smart Returns product creates invaluable operational efficiencies for enrolled business and commercial clients. “These customers rely on Smart Returns to track and collect their return items and help reconcile their receivables, whether they are small businesses or high-volume retail enterprises,” said Caren Helms, Treasury Services product analyst with First Citizens Bank.
About Unity FI Solutions:
Unity FI Solutions is a Charlotte, North Carolina-based technology firm that delivers customized, secure and cost-effective electronic payment and collections solutions to clients in a wide range of industries. For more than a decade, Unity FI Solutions has brought innovative payment solutions to its clients with the goal of helping them improve their bottom lines and increase operational efficiencies.
Contact:
Stephen Contino – Principal and Co-Founder
(704) 329-0125 | steve.contino@unityfisolutions.com