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Bank of America has added caller features to its Intelligent Receivables platform, allowing clients to process payments successful English, Simplified Chinese, Traditional Chinese, Korean and Thai crossed each 12 markets erstwhile BoA operates successful the Asia-Pacific portion and New Zealand, according to a Tuesday (Sept. 21) press release.
Intelligent Receivables uses artificial quality and instrumentality learning to signifier firm clients’ incoming outgo accusation and associated remittance details from assorted outgo channels and sources, past matches them to unfastened invoices.
“These latest enhancements to Intelligent Receivables are the earthy improvement successful the accelerated migration towards a broad technology-based solution that meets the unsocial needs of our clients who are operating successful the divers section markets crossed Asia Pacific,” said Venkat ES, caput of Asia Treasury Product, Global Transaction Services, successful the Bank of America announcement.
“They supply for large accuracy, outgo efficiencies and the quality to redirect precious resources towards gross generating activities,” helium said.
Intelligent Deductions usage instrumentality learning and signifier designation to seizure partial payments oregon claims from payments received, past matches and validates the accusation for quicker responses to claims and amended betterment of owed payments.
“In Asia, galore ample companies with analyzable operations are inactive faced with the situation of manually reconciling payments with unfastened invoices,” said Babu Vaidyanathan, caput of Asia Receivables, Global Transaction Services, successful the Bank of America announcement. “This is some clip consuming and inaccurate.
“With these enhancements, we are providing our clients tailored solutions to conscionable their needs, including section connection capabilities and the quality to process transactions from section outgo instruments specified arsenic the physics bankers’ acceptance draught successful China and promissory notes successful Korea,” helium said.
Intelligent Receivables is afloat integrated with the Bank of America CashPro level and has bank-agnostic features to alteration creaseless integration with their existent platforms. It besides features an analytics module to assistance companies recognize their customers’ outgo trends and precocious information thresholds to amended support information wrong the platform.
Bank of America precocious named Alastair Borthwick main fiscal officer, effectual successful the 4th quarter, arsenic 1 of myriad changes to its planetary enactment squad that besides includes 5 caller members connected the elder absorption team.