BRIDGEPORT, Conn., July 1, 2020 /PRNewswire/ -- People's United
Bank, N.A., a subsidiary of People's United Financial, Inc.
(NASDAQ: PBCT), has expanded its Treasury Management Payment
offering, partnering with FIS and MineralTree to bring to market
two best-in-class AP Automation solutions that will replace
traditionally paper-based processes with simple, secure digital
capabilities for Commercial Banking clients. These additions
are part of People's United's strategy to augment the client
experience through the continued expansion of personalized
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," said
Cris Sigovitch, SVP Treasury
Management, People's United Bank. "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."
Through FIS's Integrated Payables solution, clients can
access a cloud-based payments platform that accepts payment files
from an existing ERP system and executes AP payments through
designated bank accounts, including virtual card, ACH, wire or
check. Integrated Payables helps transform Accounts Payable
operations by streamlining processes, reducing costs, increasing
revenue, 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 will seamlessly integrate
with clients' existing ERP while delivering the ability to digitize
invoices and coordinate all approvals electronically from invoice
capture and approval, to payment authorization 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," said Micah Remley,
CEO, MineralTree. "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."
People's United's Treasury Management team provides direct
support to the Bank's commercial and small business clients through
their tailored cash management and commercial card solutions.
From maximizing working capital and processing payments faster, to
enhancing operational efficiency and controlling risk, the Treasury
Management team's goal is to help clients effectively manage their
financial needs to achieve long-term success.
About People's United Bank
People's United Bank, N.A.
is a subsidiary of People's United Financial, Inc., a diversified,
community-focused financial services company headquartered in the
Northeast with more than $60 billion
in assets. Founded in 1842, People's United Bank offers commercial
and retail banking through a network of over 400 retail locations
in Connecticut, New York, Massachusetts, Vermont, New
Hampshire and Maine, as
well as wealth management and insurance solutions. The company also
provides specialized commercial services to clients nationwide.
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SOURCE People's United Bank