B2B Payments

Bottomline Tech Integrates RTP Functionality

Bottomline Technologies has announced the expansion of its Digital Banking IQ suite with the launch of its Real-Time Payments (RTP) module, utilizing the RTP Network from The Clearing House. The integration aims to speed up and streamline the business-to-business (B2B) payments process, allowing a bank’s corporate customers to easily send and receive real-time payments, request a payment, and leverage complete and integrated information.

“Customer engagement is central to creating real, sustainable value in financial services. Real-Time Payments represents an important new means to that end. Smart banks are focusing more on the value of the end-to-end processes and experiences around payments, which we enable by delivering Real-Time Payments through Digital Banking IQ,” said Norm DeLuca, managing director of banking solutions at Bottomline, in a press release. “This new product — with a focus on ‘conversational messaging’ — empowers banks to deepen customer engagement by offering the speed and certainty of faster payments, combined with richer transaction information and more frictionless [B2B] interactions, through their digital banking application.”

With Bottomline’s Real-Time Payments module, corporate customers can send and receive real-time credit transfers on the RTP Network, accelerating payments and access to funds, while reducing manual or paper-based processes. In addition, the platform provides immediate and automated payment status updates, integrated remittance and payment information, as well as instant request-for-payment functionality. Its conversational capabilities allow for enhanced communication between all parties.

“More and more businesses are looking to join the real-time payments revolution to provide enhanced payment options and capabilities to customers,” said Keith Gray, VP of strategic partnerships for The Clearing House. “We look forward to working closely with Bottomline Technologies.”

“By providing real-time payments capabilities through Digital Banking IQ, we help banks expand their payment capabilities, strengthen their position with corporate customers and build deeper, more insightful and engaged relationships,” added DeLuca.

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