Paymerang has partnered with Community Bankers’ Bank to provide its best-in-class electronic payables solution to CBB’s client community banks and their commercial customers.
With Paymerang, community banks will be able to automate their accounts payable disbursements, making them more efficient, secure and profitable.
“We are excited to welcome CBB’s banks to our growing list of clients,” said Paymerang CEO, Nasser Chanda. “Community banks today are facing intensifying competition from larger banks and continued regulatory demands. By outsourcing their AP processing to Paymerang, they can focus on managing their core business and taking care of their customers. By also making Paymerang available to their commercial clients, community banks can compete against larger Fintechs and national banks. It’s a double win.”
This partnership will allow banks and their clients to automate the entire vendor payment process. With the touch of a button, they can automatically pay all invoices. Paymerang makes the payments and handles all the reconciliation, ensuring that payments are processed and paid to the correct accounts. Clients no longer need to print and mail checks or chase uncashed payments. This simple process change allows clients to refocus efforts away from payment processing and reconciliation to more strategic priorities like operational efficiency and financial controls.
“CBB’s mission is to deliver continuous innovation and outstanding value to community bank clients through the economies of scale that we create,” said Billy Beale, President and CEO at CBB. “We are thrilled to bring Paymerang’s world-class ePayables platform to our banks. It’s a game-changer in terms of the operational efficiency and incremental revenue it creates for the banks
and their clients. With growing competition and heightened security risks in the community banking sector, Paymerang is a timely solution. We are already seeing strong interest.”
Paymerang can be implemented in less than 30 days and with less than 15 hours of client time. By implementing Paymerang’s solution, clients gain time-saving convenience, security and additional revenue in the form of cash rewards. Paymerang goes the extra mile to protect payments—securely enrolling suppliers online, encrypting data, storing it and requiring secondary authentication.