A new cash management product promises to give banks another solid foothold in generating fee income from corporate customers.
Arkansas Systems, Inc., a Little Rock-based developer of bank software, recently introduced the new software product, which will allow commercial customers the ability to access their bank accounts by personal computer. Many banks have been looking to extend this service to corporate customers in an effort to improve retail delivery channels and increase their fees through monthly and transaction-based service charges.
Operational Benefits Seen
Company executives believe this can do more for banks than simply provide fees.
"We think it will case operations because these transactions are. being handled electronically," said Rob Roedel, the marketing communications coordinator for Arkansas Systems. "And it gives the commercial customers more control over their accounts."
The software, which operates on mainframe or PC-based platforms, allows commercial customers to track their accounts daily, make inquiries, and pay bills through their personal computers. The service is accessible 24 hours a day, seven days a week, and security is maintained through the host station.
The 19-year-old, privately held software vendor has provided card-based, paper-based and electronic delivery, systems for more than 1,300 banks in 50 countries.