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Northwest Bank Partners with FTNI To Deliver Advanced Remote Deposit Capture Solutions to Its Corporate Banking Customers

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Northwest Bank Partners with FTNI To Deliver Advanced Remote Deposit Capture Solutions to Its Corporate Banking Customers

Leading Community Bank Serving Iowa and Eastern Nebraska to Deliver Corporate Banking Customers with Advanced Remote Deposit Capture and Straight-Through Processing Solutions Powered by FTNI's ETran Integrated Receivables Platform.

PR Newswire

OMAHA, Neb., Aug. 20, 2018 /PRNewswire-PRWeb/ -- Financial Transmission Network Inc. (FTNI), a provider of industry-leading integrated receivables solutions, today announced Northwest Bank has selected its ETran Integrated Receivables platform to deliver its corporate banking customers with advanced Remote Deposit Capture (RDC) solutions designed to significantly streamline check processing and cash application procedures within their accounts receivables (AR) operations. FTNI and Northwest Bank plan to roll-out these new services in Q3 2018.

Headquartered in Spencer, Iowa, Northwest Bank serves a growing number of locations in Iowa and Nebraska. Northwest Bank is a $1.5 billion community bank that offers a full line of business, agricultural, mortgage, consumer deposit and lending services as well as wealth management services.

Used across multiple industries, including banking and financial services, distribution, insurance, nonprofit, property management, securities, utilities and more, FTNI's ETran Integrated Receivables platform has been proven to decrease companies' time-to-process by up to 80 percent and reduce DSO by more than four days.

Northwest Bank will implement ETran's advanced RDC module to deliver its corporate banking customers with the ability to scan checks and remittance documents while seamlessly associating and storing all account and payment information in a highly secure, central location. Northwest Bank's corporate banking customers will benefit from minimized administrative time, cost and risk by automating traditionally tedious, error-prone, manual data entry tasks associated with check processing and posting.

Designed to conveniently support centralized or distributed check processing environments via a single, easy-to-use, user interface, ETran enables efficient integration with any back-office accounting/ERP system(s) and virtually any scanner or mobile device based on customers scanning needs. Through the use of ETran's Administration Module, Northwest Bank will be able to quickly configure, deploy and support the platform across numerous clients and industries. Additionally, ETran's proprietary Proactive Payment Monitor—included within ETran's Admin Module—will assist the bank's fraud and risk monitoring capabilities across all clients on the platform.

"As financial technology continues to advance and evolve, we believe that banks are in a unique position to deliver corporate banking customers with proven solutions that help improve their business operations," said Jason Olson, Treasury Management Manager, VP, at Northwest Bank. "At Northwest Bank we want to be more than just a financial partner for our customers, we want to be a business partner and a technology partner to our customers. Our partnership with FTNI is strategic in the fact that their ETran advanced RDC application will significantly streamline historically time-consuming and error-prone check processing operations, while ultimately providing customers with the benefits of straight-through processing and automated cash application. These solutions also provide a foundation and roadmap for customers to leverage truly integrated receivables capabilities in the future."

ETran's cloud-based, highly-configurable design allows banks to efficiently tailor the platform to their corporate customers' unique business processes and workflows to accelerate AR operations across all applicable payment methods and channels, from a single receivables processing platform. ETran's agnostic, 'plug-n-play' nature works with existing banking and merchant processor relationships and supports efficient integration (batch or real-time) with any back-office system. All payment information is processed and stored on ETran's fully compliant – PCI, HIPAA, SSAE 16 and more – Software as a Service (SaaS) platform.

"As banks increasingly partner with FinTech solution providers, they take a leadership position within their market by providing corporate banking customers with value-added systems and applications that lead to operational savings and ultimately become an even more valuable partner in their customers' business success, not simply their customers' financial success," commented Zac Robinson, vice president of sales and marketing at FTNI. "We are very excited to work with the team at Northwest Bank as they roll-out our advanced RDC solutions and explore opportunities to grow their adoption of the ETran platform in the future."

About Northwest Bank

Northwest Bank is a $1.5 billion community bank that offers a full line of business, agricultural, mortgage, consumer deposit and lending services as well as wealth management services. Northwest Bank has offices located in Omaha and La Vista, Nebraska, Algona, Ankeny, Arnolds Park, Estherville, Fort Dodge, Humboldt, Le Mars, Milford, Sioux Center, Sioux City, Spencer, Spirit Lake, and West Des Moines, Iowa. To learn more, visit http://www.bank-northwest.com

About FTNI

Financial Transmission Network, Inc. (FTNI) accelerates the way businesses accept, process, post and manage payments. Processing millions of transactions monthly, FTNI's integrated receivables platform, ETran, accepts any payment method, via any payment channel—on a single, secure, cloud-based platform. ETran's easy-to-deploy, modular design seamlessly integrates current business processes, bank and processor relationships, and back-office accounting software to deliver increased efficiencies and cost savings as a result of true straight-through processing. Founded in 2007, FTNI serves more than 20,000 corporate users from leading organizations spanning numerous industries including Banking and Financial Services, Distribution, Insurance, Nonprofit, Property Management, Utilities, and more. For more information, visit ftni.com.

SOURCE Financial Transmission Network, Inc.

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