Access Softek Launches New Payment Features for Commercial Digital Banking Platform
Integration with Autobooks, Advanced Fraud Solutions provide accounts receivable/payable and fraud protections to small and medium businesses
June 29, 2021 08:00 AM Eastern Daylight Time
BERKELEY, Calif.--(BUSINESS WIRE)--Access Softek, an omnichannel digital banking provider, recently launched new payment features in its Commercial Banking solution via SSO integrations with Autobooks and Advanced Fraud Solutions (AFS).
Together with Autobooks, Access Softek’s Commercial Banking enables small business owners to easily manage tasks including but not limited to invoicing, payments, accounting, payroll, lending and taxes directly through the financial institution, rather than dealing with multiple third-party non-banking technology providers.
"Increasingly, banks and credit unions are under pressure to establish primacy with their small business clients. Our partnership with Access Softek will enable business owners to get paid and manage their back office directly within online and mobile banking. Supporting business owners that need to get paid online, and financial institutions that need to stay ahead of the competition,” said Jay Valanju, VP Corporate Development at Autobooks.
Additionally, Commercial Banking features Positive Pay, which detects any mismatches in check information like payee name, dollar amount, and account number through its integrations with AFS. If any discrepancies are identified, the feature will send the financial institution an alert and the option to stop payment on the check. With Positive Pay, the financial institution has full control of whether to accept or reject the check based on the feedback from Positive Pay.
This feature can also leverage fraud data from Access Softek’s database, consisting of negative, historical return check information from over 2,500 financial institutions, in order to better prevent fraud.
“Preventing fraud is important for small businesses,” said Ted Kirk, Vice President, Strategic Partnerships at AFS. “Access Softek is not only providing the technology solutions that make their work easier, but solutions that prioritize security and we are proud to support them in that mission.”
“Commercial digital banking and its features provide financial service leaders more touchpoints to engage with their small business customers and members, who are critical to the financial institution’s success,” said Chris Doner, founder and CEO of Access Softek. “Better payment services not only make financial management easier for these small businesses, but help our financial institutions demonstrate the value they can provide over other non-bank small business solutions.”
Detroit-based Autobooks is a provider of small business banking solutions that include digital invoicing, online payment acceptance, cash flow management, automated accounting and financial reporting. Autobooks offers pre-built integrations to industry leading core and merchant processing solutions as well as dedicated go-to-market support, allowing financial institutions to launch on average within 90 days. To learn more, ask your technology provider about Autobooks or visit https://www.autobooks.co/ to schedule time with the Autobooks team.
About Advanced Fraud Solutions (AFS)
Advanced Fraud Solutions was founded in 2007 with the simple mission to help financial institutions prevent fraud in real-time by utilizing our comprehensive private cloud-based software solutions at the frontline and in the back office. Every day, our innovative fraud prevention tools help banks and credit unions of all sizes eliminate losses and safeguard their financial assets, providing the level of protection that today’s customers demand. At Advanced Fraud Solutions, we know the best way to fight fraud is to prevent it. Learn more at advancedfraudsolutions.com.
About Access Softek, Inc.
Access Softek sets the standard for the omnichannel digital banking landscape, having developed the first downloadable apps for mobile banking. Since that time, Access Softek has extended its track record of innovation to online banking, biometric authentication, real-time fraud prevention, and automated investing integrated directly into a financial institution’s digital banking platform, among many other innovative products. Now in its 35th year, Access Softek has delivered industry firsts to over 400 bank and credit union clients from its Berkeley, California headquarters. Learn more at AccessSoftek.com.