By Maria Bruno-Britz
Commerce Bank (Cherry Hill, N.J.; $4.3 billion in assets) has selected the CheckFree Account Reconciliation Package/Service Management System (ARP/SMS). In addition, Commerce Bank has upgraded to the CheckFree PEP+ Risk Compliance Package. CheckFree's PEP+, together with its suite of add-on modules, provides a complete solution for originating and receiving payments through the ACH. By leveraging PEP+, Commerce has the potential to improve operating effectiveness and risk management while decreasing costs to serve its customers.By implementing CheckFree ARP/SMS, Commerce Bank is expected to benefit from a fully integrated, online, real-time positive pay and reconciliation system that provides the flexibility to deliver extensive and automated positive pay reporting on a variety of accounts. CheckFree ARP/SMS offers the extended functionality required to support all Commerce Bank services including real time positive pay, full reconcilement and robust client reporting.
"CheckFree's solution will provide us with the functionality to provide incremental value to our customers and give prospective customers additional reasons to choose Commerce," said Tom Gregory, senior vice president, Cash Management, at Commerce, in a statement.