CommercePayments® Partners with FISPAN to Offer Commerce Connections® Direct

Rhea-AI Summary

Commerce Bank has launched Commerce Connections® Direct, an integrated banking solution developed in partnership with FISPAN. This service allows customers to automate payments and financial processes directly within their Enterprise Resource Planning (ERP) systems, including QuickBooks® Online and Sage Intacct®. With minimal technical burden, users can streamline functionalities such as account reconciliation and payment initiation, enhancing efficiency and reducing errors. The bank, managing $33.4 billion in assets, aims to leverage existing ERP investments to benefit its clientele.

Positive

• Launch of Commerce Connections® Direct enhances customer experience by integrating banking with ERP systems.
• Partnership with FISPAN indicates innovation and commitment to improving financial processes for clients.
• Supports key ERP platforms like QuickBooks® Online and Sage Intacct®, broadening market reach.

Negative

• None.

Seamless integration of Payments and Banking to Enterprise Resource Planning (ERP) and accounting software

KANSAS CITY, Mo.--(BUSINESS WIRE)-- Commerce Bank is pleased to announce the launch of Commerce Connections® Direct, developed in collaboration with FISPAN, a leading North American fintech, to offer embedded banking within customers’ Enterprise Resource Planning (ERP) systems to automate processes, payments and financial information.

Commerce Connections® Direct provides an enhanced banking and treasury experience with a limited technology burden. Customers benefit from a wide variety of streamlined capabilities including account reconciliation, payment initiation, remittance advice and more. Supported ERP and accounting platforms currently include QuickBooks® Online and Sage Intacct®. Customers can quickly be set up to integrate their ERP directly with their Commerce accounts, simplifying payments and receivables, reducing errors and boosting process automation.

“We’re proud to be one of the early banks providing this solution,” said Todd Adler, senior vice president, Director of Treasury Management for Commerce Bank. “Companies have made significant investment in their ERPs; integrating their banking and payments into those systems and increased automation allows our customers to more comprehensively leverage those investments. We selected FISPAN for this endeavor because of our shared commitment to evolving to meet future needs and providing exceptional client experiences.”

“We’re thrilled to be working with CommercePayments® on this integration,” said Clayton Weir, FISPAN CEO. “Providing their customers with an enhanced embedded banking experience directly within their ERP platforms is key to the customer first evolution of a digital forward bank.”

CommercePayments® leverages decades of industry knowledge and experience to provide a full suite of solutions for payable, receivables, information management, risk management, liquidity and investments. Visit commercebank.com/payments for more information about CommercePayments® and Commerce Connections® Direct. Commerce Payments® solutions are provided by Commerce Bank.

About Commerce Bank

With $33.4 billion in assets¹, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a registered bank holding company offering a full line of banking services through its subsidiaries, including payment solutions, investment management and securities brokerage. One of its subsidiaries, Commerce Bank, leverages more than 155 years of proven strength and experience to help individuals and businesses solve financial challenges. In addition to offering payment solutions across the U.S., Commerce Bank currently operates full-service banking facilities across the Midwest including the St. Louis and Kansas City metropolitan areas, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City and Denver. It also maintains commercial offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis and Grand Rapids. Commerce delivers high-touch service and sophisticated financial solutions at regional branches, commercial offices, ATMs, online, mobile and through a 24/7 customer service line. Learn more at www.commercebank.com.

Disclosures:
¹As of June 30, 2022

View source version on businesswire.com: https://www.businesswire.com/news/home/20220901005751/en/

Julie Krueger, 913.402.8050 or

Julie.Krueger@commercebank.com

Source: Commerce Bank

FAQ

What is Commerce Connections® Direct?

Commerce Connections® Direct is a solution from Commerce Bank that integrates banking services with ERP systems to automate payments and financial processes.

Which ERP systems support Commerce Connections® Direct?

Commerce Connections® Direct currently supports QuickBooks® Online and Sage Intacct®.

Who collaborated with Commerce Bank on this new solution?

Commerce Bank developed Commerce Connections® Direct in collaboration with FISPAN.

What assets does Commerce Bank manage?

Commerce Bank manages $33.4 billion in assets.

How can Commerce Connections® Direct improve business processes?

The solution streamlines account reconciliation and payment initiation, reducing errors and enhancing automation.