Associated Bank will use TransCentra's private-label lockbox service to improve processing times for its commercial clients.
Associated will initially be served by TransCentra's Naperville, Ill., processing facility, which treasury consulting firm Phoenix-Hecht measured as producing some of the shortest mail float times nationwide, according to a March 19 press release. TransCentra is based in Norcross, Ga.
"Our partnership with TransCentra broadens our capabilities in line with national service providers and offers our clients immediate, enhanced wholesale and retail lockbox services with nationwide locations," says John Utz, executive vice president of the specialized financial services group at Associated Bank, a $24 billion-asset institution is based in Green Bay, Wis.
Associated has a special procedure for deciding which payment technologies to support. The company seeks the input of staff, consultants and customers before committing to any new initiative.