Synovus has launched Accelerate Pay, a new payment solution that enables commercial banking clients to initiate account payable payments in several different payment types while minimizing the use of checks. The solution offers payees the freedom to choose how they want to get paid, with check payments and e-checks still an option.
“At Synovus, we’ve carefully assessed the market to ensure we deliver a standout accounts payable business-to-business payment solution for our clients,” said Katherine Weislogel, head of treasury and payment solutions at Synovus. “Accelerate Pay simplifies business-to-business payments for our clients while quickly adapting to future-proof for an ever-changing payments landscape.”
When payment types are added, Synovus clients can take advantage of new options without altering their systems, payment initiation workflow or reconcilement processes.
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In addition to helping Synovus clients eliminate check payments, Accelerate Pay offers:
- Hands-free payment origination and account reconciliation.
- Easy enterprise resource planning or accounting application integration with implementation in minutes or hours rather than weeks without the need for technology support.
- Built-in payment fraud mitigation.
Synovus partners with Echo Health Inc. and DPX Payments LLC to offer Accelerate Pay to its clients. This is the latest addition to the Synovus treasury and payment solutions award-winning Accelerate suite. It joins Accelerate AR and FX to deliver comprehensive, streamlined cash management services and insights.
Synovus Bank, a Georgia-chartered, FDIC-insured bank, provides commercial and consumer banking in addition to a full suite of specialized products and services, including private banking, treasury management, wealth management, mortgage services, premium finance, asset-based lending, structured lending, capital markets and international banking. Synovus has branches in Georgia, Alabama, South Carolina, Florida, and Tennessee.
SOURCE: Businesswire