Arkansas Systems Inc. introduced a remittance processing program designed for community banks.
The Flexi-Remittance program allows the banks to provide the service through upgrades to existing hardware, using existing proof of deposit equipment.
Arkansas Systems says the Flexi-Remittance program will allow the bank to reduce the cost of processing remittances -- like installment loan payments -- it receives, and to offer remittance services to customers, such as local utilities, that are processing a significant number of payments.
Depending on the size of the bank and the number of functions chosen, the Flexi-Remittance program costs approximately $60,000.
Arkansas Systems is based in Little Rock.
