Regal Software Announces the Release of New Cloud-Based, ERP-Agnostic Platform to Simplify Integrated Payables for Regional and Community Banks
ATLANTA, June 16, 2020 (Newswire.com) - Regal Software today announced the release of its much-anticipated cloud-based, ERP-integrated solution for B2B payments which will allow more financial institutions to offer a white-labeled integrated payables solution to their corporate customers.
The new platform, RegalPay One, builds on the success of its predecessor, RegalPay, which has been on the market since 2008 with over 160 ERP systems integrated and is compatible with most major banks in the U.S.
The RegalPay One application will enable regional and community banks to instantly provide a white-labeled platform for their corporate customers to automate their accounts payable function without a huge investment in technology. Business users can simplify their payments processing with the ability to transmit all payment types, including virtual cards powered by Mastercard In Control for Commercial Payments (Mastercard In Control), as well as check, ACH and wire from their accounting system, without double entry. Reconciliation is also included.
Unlike solutions on the market today that only offer a handful of ERP integrations and require a manual intervention to complete a payment, RegalPay One offers a bank branded platform that connects directly to their corporate customers' ERP system.
"The RegalPay way is to continuously innovate," said Kofi Conduah, Founder and CEO of Regal Software. "In today's environment, with remote working becoming the norm, electronic payments are more than just a business continuity plan item. Banks are under pressure to offer an integrated payables solution in support of their customers, and we are excited to partner with them to make this possible."
"Now, more than ever, businesses need innovative payment solutions so they can not only maintain continuity but continue to grow," said Phillipa Wilson, Director, Commercial Partnerships, New Payment Flows, Mastercard. "By integrating with Mastercard In Control, the RegalPay One solution enables banks to provide their customers with key benefits such as process automation and streamlined supplier payments to simplify their B2B payments, so they can focus on their business."
About Regal Software
Regal Software is a Fintech provider in the corporate electronic payments industry. Regal offers the most robust on-premise and cloud-based solution for connecting corporate ERP systems to financial institutions and suppliers for accounts payable payment processing. Regal Software's technologies make it effortless for banks to add a corporate payment solution to their portfolio. Visit us at https://regalpay.live/.
Source: Regal Software
Categories: Business Finance