Top 5 Ways for Banks to Increase Positive Pay Participation (and Avoid Costly Mistakes)

1. Remove Barriers to Entry

High technological start up costs are the primary reason for non-participation in bank's positive pay programs.

Start up costs and hassles needlessly reduce your potential client base, particularly among small to mid-sized clients. Increase your client base, mitigate their costs and make participation easier by distributing or referring file creation & transmission software.

2. Provide a Solution

Potential positive pay clients are looking for a solution that allows them to participate in their bank's program.

If you are charged with enrolling new positive pay clients, it's in your best interest to facilitate the entire process. Program participation increases when you assist your clients each step of the way.

3. Leverage Your Existing Investment

You've invested significant resources in your Internet infrastructure and core solution from S1, Fiserv, Jack Henry, SunGard, Probanx, Open Solutions, Carreker, ITI, or other core processor. But they don't provide a start-to-finish positive pay solution.

The only way to provide a start-to-finish positive pay solution is to integrate with the thousands of accounting packages, billing and payroll services available.

In fairness, accounting package integration can be very detailed, and is simply not within the scope of these Core solutions. Client-side positive pay software allows you to complement and leverage your bank's existing infrastructure to increase positive pay participation.

4. Require Participation

As a negotiated condition to cover client losses, you might require positive pay participation.

Many banks now require positive pay participation on accounts that have experienced fraud losses in order to protect against future losses. This is one way to limit your liability and that of your clients.

5. Generate a Revenue Annuity Stream

By re-licensing positive pay software to your clients at a profit, you can generate a monthly annuity for your bank. Billing for third party packages, such as positive pay transmission software, has a higher acceptance rate than many other bank fees, as it provides clients with a tangible asset and benefit. Also, this monthly service tends to have a low termination rate, thereby promoting your clients' ongoing participation in this important anti-fraud program.

Treasury Software is a leading provider of client-side file creation and transmission software for Positive Pay and ACH, as well as bank reconciliation and custom cash management solutions. Designated a Verified for Windows XP software application by Microsoft, Treasury Software is a Microsoft Certified Partner. Winner of the Gold Cup Award from CPA Software News, Treasury Software products are easy to use, secure and cost effective.

For more information: www.TreasurySoftware.com or 866-226-5732.