Five Star Bank of California Selects CheckAlt for Integrated Receivables

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Five Star Bank of California simplifies payment reconciliation and accelerates cash flow with CheckAlt’s lockbox and electronic payment processing solutions.

CheckAlt, the largest independent provider of lockbox services in the U.S., is proud to provide lockbox and electronic payment processing services for California-based Five Star Bank and its customers.

“We are excited to tap into CheckAlt’s payment processing expertise to provide an excellent experience for our customers that simplifies reconciliation and accelerates cash flow,” said Krista Snelling, EVP, Chief Operating Officer for Five Star Bank. “The strength of CheckAlt’s processing network appealed to our interest in expanding our market reach. It will be a great addition to our suite of products.”

CheckAlt is customizing its robust online portal for Five Star Bank, through which users can view, manage, and build reports from payment and remittance data captured from across CheckAlt's nationwide network, with the ability to enable CheckAlt’s electronic bill pay and home banking payment processing solutions for a complete integrated receivables suite.

"With many offices closed and most people working from home, the current environment has shown us just how crucial an outsourced receivables service provider is,” said CheckAlt’s VP of Relationship Management & Growth Levi Saada.

“I am honored to be spearheading this opportunity to enable Five Star Bank to not only offer lockbox services, but also offer an electronic lockbox solution that significantly decreases paper check volume by keeping online banking bill payments electronic instead of being dropped to paper checks. Furthermore, as more businesses are making the move to electronic, Five Star Bank can now offer an electronic bill presentment and payment solution that allows for businesses to accept credit, debit, and ACH payments via a fully customizable payment site.”

If your financial institution is seeking an integrated receivables solution, please visit https://www.checkalt.com/products/lockbox-services.

About CheckAlt
In the past 10 years, CheckAlt has become the leading provider of check payment processing solutions for hundreds of financial institutions across the country. As both bank agnostic and demographic agnostic, CheckAlt is uniquely positioned for payments convergence. It has been our focus to process check payments while also eliminating paper from the system with robust electronic payment APIs. CheckAlt’s solutions include lockbox processing across a nationwide hub-and-spoke network of processing sites, consolidated item processing, integrated treasury solutions, and mobile capture services. CheckAlt is headquartered in Los Angeles, Calif.

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Tiffany Rider
CheckAlt
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