Fiserv And Melio Partner To Streamline Accounts Payable And Receivable For Small Businesses
Fiserv, Inc. (NYSE: FI), a well-known international supplier of technology solutions for financial services and payments, and Melio, a top B2B payments platform, have formed a strategic alliance. Through this partnership, financial institutions will be better equipped to fulfill small enterprises' payment needs. In light of this collaboration, they have unveiled a brand-new product called CashFlow CentralSM, available only through Melio. It combines the sophisticated biller and merchant network and payment capabilities of Fiserv with the easy-to-use accounts payable and receivable workflows of Melio.
The purpose of CashFlow Central is to enable banking institutions to successfully compete in the small company market and reclaim market share from competitors who offer direct-to-business services. It meets every aspect of small enterprises' payment and invoicing requirements. More than 3,500 financial institutions that presently utilize Fiserv's CheckFree® for bill payment are among the financial institutions that can take use of this solution. CashFlow Central expedites time-to-market, streamlines back-office operations, and guarantees a smooth transition for small business clients by leveraging the consumer and merchant payment networks that these financial institutions now use.
Small firms have historically had neglected payment needs, frequently depending on manual and paper-based procedures. With many small firms using various technologies to handle their incoming and outgoing payments, existing capabilities are often fragmented.
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