API has a large representation of customers and resellers within the financial services industries. Financial services are increasingly using third parties to carry out activities which they would normally have addressed internally. They are outsourcing to create sustainable value for their customers and shareholders. By outsourcing they are able to focus on their core competency while still complying with regulations, enhancing their product features and managing transactional challenges. API's offering for financial services ranges from storage of lockbox information, billing, payables, on-line payment and printing of MICR checks.
API also provides a full cash flow management capability by linking its accounts payable automation services with its billing services to allow accrual of AP from the point a PO is generated to receipt of a non PO vendor invoice. This accrual is matched up with the billing invoices, payments and collections to allow tracking cash availability on a day by day basis. This unlocks significant working capital through control of payments based on incoming receipts. This service is invaluable to both the company and financial services provider.
Testimonial:"Our goal at Network F.O.B. is to provide service to our clients that's unparalleled in the industry....this solution will enhance our service and differentiate our offering in the marketplace."