WaFd Bank to Streamline Payments for Small Businesses with CashFlow Central from Fiserv
08 Mai 2024 - 2:30PM
Business Wire
Small business customers can access payments
and accounts payable and receivable capabilities through a single
integrated solution
Fiserv, Inc. (NYSE: FI), a leading global provider of payments
and financial technology, announced today that WaFd Bank has
selected CashFlow CentralSM from Fiserv to enhance their robust
small business banking offerings. WaFd Bank small business
customers will be able to access a full range of capabilities to
manage incoming and outgoing payments via their digital banking
relationship, saving them time and simplifying their financial
management.
“WaFd Bank has a common-sense, disciplined approach that
resonates with our small business customers,” said Jill Boyle,
Senior Vice President and Head of the Commercial Product &
Treasury Solutions Group at WaFd Bank. “Ready access to funds keeps
small business opportunities flowing, and integrating CashFlow
Central from Fiserv will enable us to help our customers simplify
and streamline billing and payment processes so they can save time
and maximize their money.”
CashFlow Central, created by Fiserv in partnership with leading
B2B payments-as-a-service platform provider Melio, is an integrated
digital payment and cash flow management experience that allows
small businesses to send electronic invoices, accept payments via
ACH transfer or credit card, electronify supplier invoices, and pay
both billers and suppliers via a bank account or credit card. The
solution can be extended with capabilities for expense management,
card issuing, and merchant services.
According to a 2023 Datos Insights survey of U.S. based small
businesses generating between $100,000 and $20 million in annual
revenue, 56% consider cash flow and invoice/bill payment management
an ongoing pain point. CashFlow Central positions financial
institutions to address this pain point and compete in the growing
small business space, which encompasses more than 34 million
businesses in the United States. Financial institutions that offer
CashFlow Central can benefit from new sources of revenue through
premium services, card usage and increased deposits.
“The technology needs of small businesses can be easily
overlooked, leaving them to find their own patchwork of solutions
or to rely on tools designed for consumers,” said Matt Wilcox,
president of Digital Payment Solutions at Fiserv. “By taking a
holistic approach to serving their small business clients, WaFd
Bank is helping them streamline operations and improve cash flow to
enable their long-term success.”
The addition of CashFlow Central is the latest example of the
WaFd Bank commitment to being the best bank for small businesses.
The bank offers products and services designed to help small
businesses establish and grow, including payroll, inventory systems
and customer engagement tools.
Fiserv continues to expand access to CashFlow Central, with
integration into Commercial Center from Fiserv, an end-to-end
treasury management offering, expected in Q4 2024.
About WaFd Bank
WaFd Bank is headquartered in Seattle, Washington, and has 210
branches in nine western states. To find out more about WaFd Bank,
please visit our website www.wafdbank.com.
About Fiserv
Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move
money and information in a way that moves the world. As a global
leader in payments and financial technology, the company helps
clients achieve best-in-class results through a commitment to
innovation and excellence in areas including account processing and
digital banking solutions; card issuer processing and network
services; payments; e-commerce; merchant acquiring and processing;
and the Clover® cloud-based point-of-sale and business management
platform. Fiserv is a member of the S&P 500® Index and has been
recognized as one of Fortune® World’s Most Admired Companies™ for 9
of the last 10 years. Visit fiserv.com and follow on social media
for more information and the latest company news.
About Melio
Melio is a leading B2B payments technology company that enables
small and medium-sized businesses to quickly and seamlessly
transfer and receive payments, helping them improve cash flow and
workflow. Melio offers accounts payable and receivable as a service
through integrations with the platforms of financial institutions,
software providers, and marketplaces, transforming how money is
moved between businesses. Melio has headquarters in New York and an
R&D center in Tel Aviv. For more information, visit
meliopayments.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240508304263/en/
Media Relations: Ann S. Cave Vice President, External
Communications Fiserv, Inc. +1 678-325-9435 ann.cave@fiserv.com
Additional Contact: Mark Jelfs Senior Manager,
Communications Fiserv, Inc. +1 262-737-8244
mark.jelfs@fiserv.com
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