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Mellon Enterprise Cash Management Introduces New Online Wholesale
Lockbox Setup Forms
PITTSBURGH, March 1 /PRNewswire-FirstCall/ -- Mellon Enterprise Cash
Management today announced that its private label customers can now establish
Wholesale Lockbox services via the Web, enabling faster and easier service with
less administrative effort. Available via EnternetBank(R) -- Enterprise's
Web-based information reporting and transaction initiation service -- the Web
forms simplify the process by allowing banks to set up their business clients
with Wholesale Lockbox services using advanced request- tracking features and
system intelligence designed to minimize errors.
With the adoption of wholesale lockbox services by small businesses and middle
market companies on the rise, more banks are looking for easier and cost
effective ways to expand or introduce treasury capabilities to meet their
business customers' needs. Outsourcing through Mellon Enterprise's private-
label wholesale lockbox service enables banks to add a strong fee-based revenue
stream without making significant investments in technology and infrastructure.
Enterprise recently completed a successful pilot of the Web Wholesale Lockbox
setup forms with several customers. "The introduction of this online
capability is indicative of Mellon's ongoing effort to enhance our private-
label capabilities," said Robert W. Stasik, executive vice president and head
of Mellon Global Cash Management (GCM). "We want to make it easy for our bank
customers to do business with us and, in turn, streamline our bank customers'
processes."
EnternetBank automatically edits each form as it is completed and submitted,
determining if additional information is needed or if required fields were left
blank. A built-in help feature provides assistance in completing the forms.
An Enterprise implementation specialist reviews the form online and either
sends back an approval for the client's records or returns an unapproved form
for editing and resubmission.
Current plans include introducing online setup forms for disbursement services
in the first half of 2005 and continuing to convert all of Enterprise's setup
forms to an online version throughout the year.
Enterprise offers access to Mellon's nationwide lockbox network with operations
in seven strategically located processing sites: Atlanta, Boston, Chicago,
Dallas, Los Angeles, Philadelphia and Pittsburgh. Because the network provides
uniform operational procedures, consistent processing methods and standard
processing hardware and software, bank customers can expect the same high
quality service no matter which lockbox sites they choose. Enterprise also
offers an "EZLockbox" service for customers for whom float and availability are
not primary concerns.
Mellon Global Cash Management (GCM) provides a full range of cash management
outsourcing solutions to small, mid-sized and large financial institutions
through its Enterprise business unit. Available services include wholesale and
retail lockbox, controlled disbursement, positive pay, account reconciliation,
data exchange, electronic cash management information reporting, wire transfer
and ACH origination. Banks that private label/outsource cash management
services can realize the benefits of significant fee-based revenues, while
avoiding considerable capital investments.
Mellon Global Cash Management, a payments industry leader synonymous with
quality performance and known for its innovation and expertise, designs
comprehensive solutions through its broad line of cash management services to
meet the specialized treasury needs of corporations, nonprofit organizations
and financial institutions. Recently, an independently administered customer
satisfaction survey revealed that Mellon GCM continues to distinguish itself
from its competition in the areas of operating quality, commitment to cash
management and customer service. In addition, Mellon GCM was one of only two
providers to achieve an A+ average for product performance in the 2004
Phoenix-Hecht(R) Quality Index(TM) of 33 major cash management providers.
Throughout 2005, Mellon GCM is celebrating its 50th anniversary in remittance
processing. In addition, Mellon GCM is the only electronic payments services
provider in the U.S. to successfully complete both a Level 3 Capability
Maturity Model(R) (CMM(R)) assessment for its software engineering practices
and attain ISO 9001:2000 Registration. More information on Mellon GCM is
available at http://www.mellon.com/gcm .
Mellon Financial Corporation is a global financial services company.
Headquartered in Pittsburgh, Mellon is one of the world's leading providers of
financial services for institutions, corporations and high net worth
individuals, providing institutional asset management, mutual funds, private
wealth management, asset servicing, human resources and investor solutions, and
treasury services. Mellon has more than $4.0 trillion in assets under
management, administration or custody, including $707 billion under management.
Its asset management companies include The Dreyfus Corporation and U.K.-based
Newton Investment Management Limited. News and other information about Mellon
is available at http://www.mellon.com/ .
DATASOURCE: Mellon Financial Corporation
CONTACT: Ron Gruendl, Corporate Affairs of Mellon Financial Corporation,
+1-412-234-7157, or
Web site: http://www.mellon.com/
http://www.mellon.com/gcm