Lewiston, ME, February 10, 2008 --(
PR.com)-- FISC, a leader in the payment processing industry, has signed two more clients to its latest cash management product, FISCheckAcceleratorTM. Bangor Hydro Electric Company, of Bangor, Maine, and Aquarion Water Company, of Monroe, Conn., enrolled in this service option last week, marking FISC’s 40th and 41st clients, respectively, to utilize an electronic deposit benefit.
The FISCheckAccelerator product allows for accelerated funds availability for all check deposits received through FISC’s lockbox processing. This is done through the use of Accounts Receivable Conversion (ARC) and/or Image Cash Letter (ICL) technologies. By electronically depositing funds and eliminating paper deposits, daily deposits enter the check clearing process immediately allowing for faster funds retrieval.
This cash management product provides, in most cases, a significant increase in funds availability on deposited items. “This is truly a savings opportunity for both our remittance and item processing clients, giving them 100 percent of their deposited funds the very next day,” said FISC Marketing Director, Tiffany LeBrun.
About FISC
Headquartered in Lewiston, Maine with offices in Portsmouth, New Hampshire, FISC has provided services and solutions to financial institutions and corporations for 30 years. The company designs and implements full-service outsourcing solutions that make the operations of financial, insurance, government, non-profit, and other organizations more efficient and more affordable. FISC’s core services include item processing and electronic clearing, software solutions, loan servicing, lockbox, and disaster recovery services. In addition, FISC offers comprehensive statement and invoice printing, delivery, design and management. For more information, visit www.fiscsolutions.com or call 1.888.433.4924.
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