FTNI Blog

The old saying goes, “If it ain’t broke, don’t fix it.”

This saying may be true for more than just a few things in life—your refrigerator, your car, your coffee maker, etc.—but your company’s accounts receivables operations (and the technology that supports it) isn’t one of them.

If there is one thing we have learned over the history of our business, it is that no two businesses’ accounts receivables (A/R) operations are the same. No matter how similar those businesses may seem on the surface. There is no proverbial “box” that you can fit companies and their associated processes into. 

For many corporations (and banks), integrated receivables isn’t simply a buzz word any longer—it’s become a reality that is tranforming AR operations. As companies across multiple industries have looked to third-party technology providers to deliver a solution to simplify and streamline their accounts receivables processes, it has forced many banking institutions to take a closer look at prospective Fintech partnerships and re-evaluate their own treasury management offerings.

Lately, banks have been taking some noteworthy strides to innovate in the AR space by investing in new fintech technology. It’s exciting to see, and we hope it’s a sign of things to come—but although this is a positive sign for future collaboration between banks and fintechs, these recent investments and partnerships still don’t go far enough. 

Each day brings new announcements and news from the ever-changing world of payment technology. With so much new information coming at you each day, it’s easy to miss topics that may be valuable to you. So we thought now was as good a time as any to take few minutes to catch you up on some of the most recent news from FTNI.

Originally published on PYMNTS.com on 4/1/2016.

In managing accounts receivables, corporate banking has been marked by inefficient processes and a “silo mentality.” FTNI, in a recent e-Book, offered up a roadmap toward embracing the cloud to eliminate isolated systems and processes.

Originally published on PYMNTS.com on 10/20/2015.

For a corporate treasurer to be able to view all of his or her company’s receivables in a single look sounds like, in the words of MPD CEO Karen Webster, “manna from heaven.”

FTNI (Financial Transmission Network, Inc.) is turning that dream into a reality with its Integrated Receivables solution, which focuses on eliminating siloed payments within corporate organizations.

Can it work? Yes, provided — as Kurt Matis, President and CEO of FTNI, discussed with Webster — that a corporation has an understanding of its primary pain points and the patience to address them one at a time.

With more budget cuts across the board for all different types of financial organizations, there is a growing trend to devise alternative methods that will assist in streamlining the decreasing availability of funds, while working to continue to operate efficiently and effectively.

Too often organizations are finding such drastic budget cuts as a crippling necessity just to keep the doors open – much like putting a band-aid on the problem, when major surgery is what is needed. And to be realistic, a band-aid will not cover up major budget ‘cuts’.

What is needed here for bank resellers is to think outside the box – inward, and cease doing business the old fashion way. Many organizations have jumped on the marketing wagon, helping to increase visibility to generate revenue, but what if they were to think ‘inside’ the box – making improvements from the inside out to help elevate some budget short falls?