Wausau Financial Systems, a provider of software and services for the banking industry, has added a customer in the Tar Heel State.
The software company said Wednesday that NewDominion Bank in Charlotte, N.C. has installed its wholesale lockbox service.
The service will enable the $351 million-asset bank's business customers to boost the speed and accuracy of their receivables processing, according to the companies.
"A prospective customer needed an affordable solution to improve their accounts receivables and we knew there was potential for this type of offering," Chris Block, NewDominion's senior vice president for treasury services, said in a news release. "Within a few months, we had a solution up and running that is competitively priced and effectively meeting the needs of our customer."
Wausau says the lockbox capability operates as an extension of systems bank customers use to process receivables. Financial institutions can host the service on their own networks or make it available to customers via Wausau.