Small business customers can access payments, accounts payable and receivable functionality through a single integrated solution.
MILWAUKEE, May 8, 2024–(BUSINESS WIRE)–Fiserv, Inc. (NYSE: FI), the world's leading provider of payments and financial technology, today announced that WaFd Bank has selected CashFlow Central.SM Our partnership with Fiserv strengthens our robust small business banking offering. WaFd Bank's small and medium-sized business customers will now have access to a full range of features for managing deposits and withdrawals through a digital banking relationship, saving time and simplifying financial management.
Jill Boyle, Senior Vice President and Head of Commercial Products and Treasury Solutions Group at WaFd Bank, said: “Instant access to funds keeps small business opportunities flowing. Additionally, integrating Fiserv's CashFlow Central allows our customers to simplify and streamline their billing and payment processes, saving them time and money. You will be able to save and maximize your funds.”
Created by Fiserv in partnership with Melio, a leading B2B Payments-as-a-Service platform provider, CashFlow Central is an integrated solution that enables small and medium-sized businesses to send electronic invoices, accept ACH transfers or credit card payments. A digital payments and cash flow management experience. Digitize supplier invoices and pay both billers and suppliers via bank account or credit card. This solution can be expanded with additional expense management, card issuance, and merchant services capabilities.
According to a 2023 Datos Insights survey of U.S.-based small and medium-sized businesses with annual revenue between $100,000 and $20 million, 56% find cash flow and bill/invoice payment management an ongoing challenge. I think there is. CashFlow Central helps financial institutions address this pain point and compete in the growing small business sector, which includes more than 34 million businesses in the United States. Financial institutions offering CashFlow Central can benefit from new revenue streams through premium services, card usage, and increased deposits.
“The technology needs of small businesses are often overlooked, forcing them to find a patchwork of proprietary solutions or rely on tools designed for consumers,” said Matt, President of Digital Payment Solutions at Fiserv.・Mr. Wilcox says. “WaFd Bank takes a holistic approach to serving our small and medium-sized business customers, helping them streamline their operations, improve cash flow and enable long-term success. ”
The addition of CashFlow Central is the latest example of WaFd Bank's commitment to becoming the best bank for small and medium-sized businesses. The bank offers products and services designed to help small businesses establish and grow, including payroll, inventory systems, and customer engagement tools.
Fiserv continues to expand access to CashFlow Central, which will be integrated into Fiserv's Commercial Center, an end-to-end financial management service, in Q4 2024.
About WaFd Bank
WaFd Bank is headquartered in Seattle, Washington, with 210 branches in nine Western states. For more information about WaFd Bank, please visit our website www.wafdbank.com.
About Fiserv
Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aims to move money and information in ways that move the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class outcomes through a commitment to innovation and excellence in areas such as account processing and digital banking solutions. Card issuer processing and network services. payment. e-commerce. Merchant Acquisition and Processing. Clover® is his cloud-based POS and business management platform. Fiserv is a member of the S&P 500® Index and has been recognized as one of Fortune® World's Most Admired Companies™ for nine of the past 10 years. For more information and the latest company news, visit fiserv.com and follow us on social media.
About Melio
Melio is a leading B2B payments technology company that helps small and medium-sized businesses send and receive payments quickly and seamlessly, improving cash flow and workflows. Melio delivers accounts payable and receivable as a service through integrations with financial institutions, software providers, and marketplace platforms to transform the way money moves between businesses. Melio is headquartered in New York and has a research and development center in Tel Aviv. For more information, please visit meliopayments.com.
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contact address
Media contact point:
Ann S. Cave
Vice President of External Communications
Fiserve Co., Ltd.
+1 678-325-9435
ann.cave@fiserv.com
Additional contacts:
Mark Jelfs
Senior Manager of Communications
Fiserve Co., Ltd.
+1 262-737-8244
mark.jelfs@fiserv.com
