PROVIDENCE – Santander Bank has launched Santander Enterprise Payment Link, a new digital platform designed to help businesses simplify and digitize their payment processing.
The platform allows businesses to track and report on check payments to suppliers, customers and employees, as well as wire and automated fund transfers.
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“Santander Enterprise Payment Link enables clients to streamline their payables process in an efficient and secure manner so that they can better serve customers and focus on more strategic activities,” Robert Rubino, Santander Bank’s co-president and head of commercial banking, said in a recent statement.
The system’s highlights include:
- Initiating Automated Clearing House, wire, and paper check payments all through a single, secure file transmission
- Accessing a single source for all host-to-host payment initiations and acknowledgements, providing real-time status online, including automated acknowledgement emails and payment status texts
- Improving cash forecasting by systematically supporting existing payment scheduling disciplines
- Enhancing audit control and payment tracing through a comprehensive query and reporting tool
“We designed Santander Enterprise Payment Link based on conversations with our clients, incorporating their ideas on how best to streamline their payment process,” said Ken Deveaux, Santander’s managing director and head of transaction banking. “This innovative payments solution allows clients to accelerate moving from costly, error-prone manual to automated processing.”
Boston-based Santander Bank is the U.S. subsidiary of Banco Santander in Spain.
Scott Blake is a PBN staff writer. Email him at Blake@PBN.com.
