Cathay Bank Offers Autobooks Digital Banking Solutions

Rhea-AI Summary

Cathay Bank has enhanced its online offerings by incorporating Autobooks for payment and invoicing services. This integration allows small business clients to manage cash flow effectively, create and send invoices easily, and receive online payments directly into their accounts. The service comes at a competitive fee and aims to expedite payment processes for business clients. Established in 1962, Cathay Bank has expanded its presence across the U.S. and internationally, celebrating a strong commitment to its customer base for over 60 years.

Positive

• Integration of Autobooks enhances invoicing and payment processes for small businesses.
• Business clients can better manage cash flow and payment tracking.
• Service available at competitive fees, likely attracting more business clients.

Negative

• None.

Business clients can get paid quicker and more securely by streamlining the invoicing process

LOS ANGELES--(BUSINESS WIRE)-- Cathay Bank announced that it has expanded its online business solutions to offer payment and invoicing services through Autobooks.

Autobooks is an emerging leader in digital invoicing and payment acceptance and is a leading integrated-payments provider for small business banking. The integration of Autobooks’ invoicing and payment acceptance module into the Cathay Bank Online Business Banking platform can help small business owners better manage cash flow and keep track of their customers’ payment status. With just a few clicks, this innovative accounting tool helps create and send invoices, schedule recurring invoices, and receive online payments directly into their Cathay Bank account.

“When we opened our doors as a commercial bank 60 years ago, we made it our job to accompany our business clients on each step of their financial journey,” said Randy Browning, SVP, Director of Treasury Management Sales. “We understand the importance of cash flow management. By teaming up with Autobooks, we hope to make invoicing and payment acceptance more seamless for our business clients, so that they can get paid quicker.”

The service is available to Cathay Bank’s business clients at a very competitive fee. Learn more about how Cathay Bank can help business owners get paid faster with Autobooks, visit www.cathaybank.com/business.

About Cathay Bank

Cathay Bank, a subsidiary of Cathay General Bancorp (Nasdaq: CATY), opened its doors in 1962 in Los Angeles to serve the growing immigrant community. Today, we operate over 60 branches across the U.S., with a branch in Hong Kong, and representative offices in Beijing, Shanghai, and Taipei. In 2022, we proudly celebrate our diamond jubilee. While much has changed over six decades, our pursuit and dedication has only grown stronger. Then, now, and always, we go above and beyond, so you can, too. Learn more at cathaybank.com. FDIC insurance coverage limited to deposit accounts at Cathay Bank’s U.S. domestic branch locations.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220401005540/en/

Rex Hong

626-279-3250

Source: Cathay Bank

FAQ

What new services has Cathay Bank introduced for its business clients?

Cathay Bank has launched payment and invoicing services through Autobooks to streamline financial processes for small business clients.

How does Autobooks benefit Cathay Bank's small business customers?

Autobooks helps small business owners manage cash flow, create invoices, and receive payments directly into their Cathay Bank accounts.

When was Cathay Bank established?

Cathay Bank was established in 1962 in Los Angeles to serve the growing immigrant community.

What is Cathay Bank's stock symbol?

Cathay Bank's stock symbol is CATY, listed under Cathay General Bancorp.

Where does Cathay Bank operate its branches?

Cathay Bank operates over 60 branches across the U.S. and has a branch in Hong Kong, with representative offices in Beijing, Shanghai, and Taipei.