Gresham, a provider of real-time financial transaction control and enterprise data integrity solutions, added upgrades to its Account Receivables Management (Clareti ARM) offering. The proven “white label” technology, which enables banks to offer receivables management services to their corporate customers, can now receive and process remittance advices, whether in e-mail, Excel, Word or PDF format.
Remittance processing has traditionally been a manual, document heavy and time-consuming process, exacerbated by the increase in data brought by digital processes. This near real-time movement of funds dramatically increases the speed of credit transfer from one account to another. This benefit is soon lost, however, if the underlying transaction settlement infrastructure and remittance processes are not able to keep pace and provide the associated information equally quickly.
