• Thu. May 23rd, 2024

Regions Financial (RF) Arm Offers Digital Platform for Clients

Regions Financial Corporation RF subsidiary, Regions Bank, has announced digital platforms under Regions Treasury Management, namely, BillerXchange and Expresso. These will cater to the needs of its business clients.

The above-mentioned platforms bring together the bank’s customer billing and communication services into an integrated channel. The platforms will provide small businesses to major employers to manage their electronic bill presentment and payments simultaneously.

Regions Bank clients can enroll in the BillerXchange platform, which is powered by Mastercard, for bill presentment and payment services. This platform enables companies to accept online payment receivables and offers their customers an intuitive and seamless digital experience.

Enabled by Nordis Technologies, clients will also have access to Expresso — a customer communications management software — which helps Regions Bank clients to generate and record communications to initiate payments from their customers. These communications can be addressed via text, email or print, per the convenience of the parties involved.

The platform allows clients from various healthcare, real estate, manufacturing, distribution, wholesale industries and other professional services sectors, to manage the entire lifecycle of accounts receivables from a single integrated platform. For clients who are not enrolled in BillerXchange, RF enables the option to use Expresso’s separate add-on solutions such as print production and mail services to meet their communications needs.

Bryan Ford, head of Treasury Management for Regions Bank, stated, “At Regions, we are committed to delivering the resources our business clients need to accelerate cash flow and improve overall cash management. At a time when business clients often need to do more with less, automation and technology provide efficient alternatives to the manual process of billing and receivables.”

Ronnie Selinger, founder and CEO of Nordis Technologies, commented, “Nordis Technologies is proud to provide businesses greater choice and convenience with a range of options for communications and payments. It is a proven path for increasing customer engagement and satisfaction and lowers barriers to payments.”

Last year, Regions Financial launched a digital commercial card platform to facilitate hassle-free business travel payments for clients. Further, the bank has also launched another digital platform, namely, iTreasury, which enables corporate banking clients to make real-time payments. This Regions Treasury Management division’s platform provides various financial management options for businesses.

Over the past three months, shares of RF have gained 28.7% compared with the industry’s rise of 30.2%.

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Currently, Regions Financial carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recently, many finance firms like Interactive Brokers IBKR and Citigroup C have launched new platforms aimed at better serving their customers.

IBKR unveiled a new platform, Securities Lending Dashboard. It aims to provide clients with enhanced tools for assessing short-selling activity and making informed trading decisions.

This innovative platform offers sophisticated investors, including hedge funds, access to an extensive range of securities lending data, empowering them to evaluate investment opportunities more effectively. The Securities Lending Dashboard complements Interactive Brokers’ existing Securities Loan Borrow system, a self-service utility for identifying shortable stocks.

Citigroup has launched a platform — CitiDirect Commercial Banking — which offers a single-entry point digital platform to cater to the needs of Citi Commercial Bank clients. The initiative is part of C’s significant strategic investment plan to meet the growing global needs of these clients.

Particularly, the CitiDirect Commercial Banking platform brings together the bank’s global products and services into a single digital platform. This provides clients with a comprehensive view of their Citi banking relationship across Cash, Loans, Trade, FX, Servicing and Onboarding.

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