News from the Wire

Central Bank & Trust picks CheckAlt for integrated receivables

Friday, December 04, 2020 — 13:14:27 (EST)

LOS ANGELES (PRWEB) DECEMBER 03, 2020--CheckAlt, the largest independent provider of lockbox and treasury management solutions in the U.S., has been selected by Central Bank & Trust, a part of Farmers & Stockmens Bank based out of Colorado, to provide integrated receivables payment processing services for the bank’s commercial clients.

CheckAlt’s Integrated Receivables solution suite provides paper and electronic payment processing services. These solutions include Remit for lockbox processing, Catch! for keeping online banking bill payments online, and KliknPay for electronic bill payment and presentment.

“Central Bank & Trust is committed to ensuring our clients have access to the latest and greatest in financial technology,” said Greg Guidici, VP of Treasury Management and Relationship Manager for Central Bank & Trust. “By selecting CheckAlt as our Integrated Receivables partner, we have positioned ourselves to be at the forefront of the digital payments revolution.”

Central Bank & Trust is already growing the number of commercial clients utilizing CheckAlt’s Integrated Receivables. Here’s how it works: CheckAlt customizes web portals for Central Bank & Trust’s clients where payment and remittance data imaged and processed across CheckAlt’s hub-and-spoke lockbox services network is consolidated, along with ACH and card payments made through online banking services and bill payment portals.

“We are excited to be Central Bank & Trust’s partner in its growth strategy and to support the bank and its commercial clients,” said Tammy Ramirez, Relationship Manager for CheckAlt.

For more information about CheckAlt’s Integrated Receivables solution suite, visit www.checkalt.com/technology/integrated-receivables.

About CheckAlt

In the past 10 years, CheckAlt has become the leading provider of check payment processing solutions for hundreds of financial institutions across the country. As both bank agnostic and demographic agnostic, CheckAlt is uniquely positioned for payments convergence. It has been our focus to process check payments while also eliminating paper from the system with robust electronic payment APIs. CheckAlt’s solutions include lockbox processing across a nationwide hub-and-spoke network of processing sites, consolidated item processing, integrated treasury solutions, and mobile capture services. CheckAlt is headquartered in Los Angeles, Calif.

About Central Bank & Trust

Central Bancorp opened Central Bank & Trust in 2010 in Colorado Springs as a branch of Farmers & Stockmens Bank, located in Clayton, New Mexico. In 2020 CB&T expanded to the Denver Metro area. CB&T is the leading SBA lender in Colorado Springs, being El Paso County’s #1 SBA lender four years in a row. With a focus on business banking relationships, the bank puts customer service first. For more information on Central Bank & Trust, visit us online at CBTColorado.com

About Farmers & Stockmens Bank

Founded in 1920, Farmers & Stockmens Bank is a full-service bank out of Clayton, New Mexico. Acquired by Central Bancorp, Inc. in 2009, Farmers & Stockmens Bank continues to be locally managed by people who maintain business and family ties to the community. To learn more about Farmers & Stockmens Bank, visit us online at FandSBank.com

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Source: Company press release.