People’s United Bank partners with FIS & MineralTree to bolster Treasury Management
By Pavithra R
People’s United Bank, a subsidiary of People’s United Financial, has expanded its Treasury Management Payment offering in partnership with FIS and MineralTree to bring to market two AP Automation solutions that will replace traditional paper-based processes with simple, secure digital capabilities for Commercial Banking clients.
The new enhancements are part of People’s United’s strategy to augment the client experience through the continued expansion of personalised technology across business lines.
“We are excited to be working with two industry-leading providers to bring the value of their solutions to our clients and to change the way they make payments through automated technologies. We remain focused on forming strategic partnerships with FinTech companies and making continued investments that enhance the Treasury Management client experience. These technologies are also critical elements to client business continuity planning and enabling Accounts Payable teams to effectively carry out their responsibilities particularly during this difficult time,” said Cris Sigovitch, SVP Treasury Management, People’s United Bank.
Through FIS’s Integrated Payables solution, clients can access a cloud based payments platform that accepts payment files from existing ERP systems and executes AP payments through designated bank accounts, including ACH, virtual card, wire or check. Integrated Payables helps transform Accounts Payable operations by increasing revenue, streamlining processes, reducing costs, and mitigating fraud risk.
“We are pleased to expand our long-term relationship with People’s United to help the Bank enhance the customer experience through increased speed and ease of use through our sophisticated digital payment solutions,” said Mike Kresse, Division Executive of Card & Money Movement at FIS.
MineralTree’s Invoice-to-Pay solution integrates with clients’ existing ERP while delivering the ability to digitise invoices and electronically coordinate all approvals from invoice capture and approval, to payment authorisation and execution, all with enhanced record-keeping and audit trails.
“Today’s businesses and corporations need efficient operations and cost savings enterprise-wide, and the Accounts Payable function is no exception. We are excited to begin this new partnership with People’s United and look forward to being an integral part of their service expansion with the Invoice-to-Pay solution,” said Micah Remley, CEO, MineralTree.
Established since 1842, People’s United Bank is a subsidiary of People’s United Financial offering commercial and retail banking through a network of over 400 retail locations.
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