PNC Bank’s Canada branch (PNC Canada) has unveiled a new lockbox processing centre in Toronto, Canada.
The bank will be equipped with the same advanced technology available in the US to companies doing business in Canada.
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The services will be offered to commercial customers doing business in Canada, and will help them combine US and Canadian receivables.
PNC Canada will be the first provider in Canada to provide a remote capture solution to their commercial customers that is fully integrated with their lockbox.
The bank will feature off-the-shelf scanners and a desktop computer which will allow customers to capture full-colour images of checks and attached documents such as remittance slips, invoices and hand-written notes, and submit them electronically to the lockbox for processing.
The bank’s imaging lockbox will offer optical character recognition to reduce keystrokes for uploading data from paper payments.
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By GlobalDataThe lockbox will also facilitate same-day online access to transaction data and images, provide multiple deposits and online updates, and allow better management of exception items.
