Yahoo Finance Regions Financial's (RF) Arm Unveils New Digital Payment Solution
Regions Financial Corporation’s RF subsidiary, Regions Bank, has launched Regions CashFlowIQ in collaboration with BILL Holdings, Inc. BILL. CashFlowIQ is a digital solution intended to make payments easier and simplify cash-management procedures for its commercial clients.
BILL is a leading financial operations platform that caters to small and midsize businesses. Its integrated platform allows businesses to control their payables, receivables, and spend and expense management efficiently.
Powered by BILL, Regions CashFlowIQ offers advanced accounts payable and receivable capabilities, allowing businesses to manage their bill payments and customer invoicing securely at the same time receiving quick payments. By leveraging BILL's flexible payment solutions, Regions CashFlowIQ expands the options and capabilities for both domestic and international transactions.
With Regions CashFlowIQ, businesses can use a single portal — the Regions OnePass portal — to begin bill payments, create and send customized invoices, track payment information, make workflow approvals and automate payments efficiently. Additionally, the newest digital solution can be utilized in the reconciliation of financial records by synchronizing them with accounting software. The platform is also compatible with a wide range of accounting software options that are currently available.
Bryan Ford, head of Treasury Management at Regions Bank, stated, “Regions CashFlowIQ helps clients digitally transform, automate, and consolidate their payment processes. This results in smoother business operations. It helps the client focus more time and resources on their own products and services while we make managing money easier, more intuitive, and more productive.”
Cashflow management solutions remain a major priority for clients seeking a simplified and efficient financial management tool. Regions Bank continues to investment in innovative technology resources that serve its clients with digital account management.
Over the past year, shares of RF have lost 4.6% compared with the industry’s decline of 6.4%.
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Currently, RF carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Other Banks Investing in Digital Platforms
M&T Bank Corporation MTB expanded its utilization of the nCino platform and integration of the latter’s continuous credit monitoring solution into its operations.
MTB has been a long-standing customer of nCino. The company is now ramping up its use of nCino’s Continuous Credit Monitoring Solution, powered by nIQ, which uses Rich Data Co’s AI decisioning platform. This solution specializes in streamlining potential warnings and customer reviews and helps uncover new and lower-risk lending opportunities.
Fifth Third Bancorp FITB, in collaboration with Bottomline, launched Enhanced Payables, a new payment platform powered by the latter’s business payments network, Paymode-X.
Enhanced Payables integrates Bottomline’s industry-leading business payments technology and FITB's wide-ranging banking services to offer customers a diverse range of payment modes.
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Regions Financial Corporation (RF) : Free Stock Analysis Report
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BILL Holdings, Inc. (BILL) : Free Stock Analysis Report
