A lockbox bank is a financial institution that provides lockbox services to businesses. These services involve the bank receiving payments on behalf of its clients directly into designated post office boxes. The bank then collects, processes, and deposits these payments into the clients’ accounts, streamlining the cash flow and accelerating the availability of funds for businesses. This arrangement helps businesses manage their receivables more efficiently by outsourcing payment handling to the bank.
Reimagine Your Order-To-Cash with AI
Touchless Receivables. Frictionless Payments.
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Emagia is a leading provider of AI-powered Order-to-Cash (O2C) automation platform that modernizes finance operations for midsize to large global businesses. Many global businesses and shared service centers use Emagia’s Autonomous O2C to transform to digital world-class operations in credit, invoicing and payments, receivables, collections, deductions, cash application and cash forecasting. Emagia solutions improve their customers DSO, cash flow, credit risk, operational cost, compliance and profitability.
