LOS ANGELES, June 12, 2020 /PRNewswire-PRWeb/ -- CheckAlt, the largest independent provider of lockbox services in the U.S., and Pawtucket Credit Union, an organization formed by and for the people of Pawtucket, Rhode Island, have expanded their partnership to provide lockbox processing for its corporate members. CheckAlt has a longstanding relationship with Pawtucket Credit Union as the organization's ATM deposit processing provider.
"We are delighted to expand our partnership with CheckAlt and utilize its lockbox services for the thousands of loan payment checks we receive each month," said Donna Gregson, Executive Vice President of Retail Administration for Pawtucket Credit Union. "We are impressed with CheckAlt's enhanced document scanning and ability to digitize data from images. CheckAlt simply converts that data into a programmed interface file that flows into an online portal for our team members to review and manage as necessary. Working with CheckAlt helps us maintain our strong focus on delivering the best member services possible."
Pawtucket Credit Union's commitment to deliver premier products and services to its membership that keep pace with technology advances reflects the growing shift toward digital transformation among credit unions across the country. With CheckAlt's lockbox services, mail is converted into digital images managed online for quick decisioning and next-day clearing of payments. For more information on CheckAlt's lockbox services, visit https://www.checkalt.com/products/lockbox-services/.
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.