Fiserv has unveiled RemitStream Remote Property Management Lockbox, a solution to help property management companies receiving assessment or rent payments in their offices to automate the assessment collection process and potentially improve cash flow.
The solution combines all the benefits of RemitStream Property Management Lockbox with RemitStream Remote Lockbox Capture, said the company.
RemitStream Remote Property Management Lockbox enables property management companies to remotely capture assessment checks and coupons for multiple homeowners associations and transmit them electronically to a central lockbox site for processing.
Fiserv Remittance and Check Solutions president Anna Quinlan said that by using RemitStream Remote Property Management Lockbox property manager can now scan the checks and coupons in the office and transmit the image electronically to the company’s lockbox site for processing.
“In addition, property management companies no longer need to maintain separate lockboxes for each homeowners association. They simply send their assessments to one P.O. Box and our service enables the checks to be deposited into separate accounts for each property,” Quinlan said.