WaFd Bank to Streamline Payments for Small Businesses with CashFlow Central from Fiserv
Fiserv, Inc. announced WaFd Bank selecting CashFlow Central to enhance small business banking offerings. The solution allows small businesses to manage payments, invoices, and cash flow through a digital banking relationship. CashFlow Central aims to streamline billing and payment processes, saving time and simplifying financial management for small business customers.
WaFd Bank enhancing small business banking offerings with CashFlow Central from Fiserv
Streamlining payment processes for small business customers
Integrated solution to manage incoming and outgoing payments efficiently
Helping small businesses save time and simplify financial management
Access to funds keeps small business opportunities flowing
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Small business customers can access payments and accounts payable and receivable capabilities through a single integrated solution
“WaFd Bank has a common-sense, disciplined approach that resonates with our small business customers,” said Jill Boyle, Senior Vice President and Head of the Commercial Product & Treasury Solutions Group at WaFd Bank. “Ready access to funds keeps small business opportunities flowing, and integrating CashFlow Central from Fiserv will enable us to help our customers simplify and streamline billing and payment processes so they can save time and maximize their money.”
CashFlow Central, created by Fiserv in partnership with leading B2B payments-as-a-service platform provider Melio, is an integrated digital payment and cash flow management experience that allows small businesses to send electronic invoices, accept payments via ACH transfer or credit card, electronify supplier invoices, and pay both billers and suppliers via a bank account or credit card. The solution can be extended with capabilities for expense management, card issuing, and merchant services.
According to a 2023 Datos Insights survey of
“The technology needs of small businesses can be easily overlooked, leaving them to find their own patchwork of solutions or to rely on tools designed for consumers,” said Matt Wilcox, president of Digital Payment Solutions at Fiserv. “By taking a holistic approach to serving their small business clients, WaFd Bank is helping them streamline operations and improve cash flow to enable their long-term success.”
The addition of CashFlow Central is the latest example of the WaFd Bank commitment to being the best bank for small businesses. The bank offers products and services designed to help small businesses establish and grow, including payroll, inventory systems and customer engagement tools.
Fiserv continues to expand access to CashFlow Central, with integration into Commercial Center from Fiserv, an end-to-end treasury management offering, expected in Q4 2024.
About WaFd Bank
WaFd Bank is headquartered in
About Fiserv
Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and has been recognized as one of Fortune® World’s Most Admired Companies™ for 9 of the last 10 years. Visit fiserv.com and follow on social media for more information and the latest company news.
About Melio
Melio is a leading B2B payments technology company that enables small and medium-sized businesses to quickly and seamlessly transfer and receive payments, helping them improve cash flow and workflow. Melio offers accounts payable and receivable as a service through integrations with the platforms of financial institutions, software providers, and marketplaces, transforming how money is moved between businesses. Melio has headquarters in
View source version on businesswire.com: https://www.businesswire.com/news/home/20240508304263/en/
Media Relations:
Ann S. Cave
Vice President, External Communications
Fiserv, Inc.
+1 678-325-9435
ann.cave@fiserv.com
Additional Contact:
Mark Jelfs
Senior Manager, Communications
Fiserv, Inc.
+1 262-737-8244
mark.jelfs@fiserv.com
Source: Fiserv, Inc.
FAQ
<p>What solution did WaFd Bank select to enhance small business banking offerings?</p>
WaFd Bank selected CashFlow Central from Fiserv to enhance their small business banking offerings.
<p>What capabilities can small business customers access through CashFlow Central?</p>
Small business customers can manage incoming and outgoing payments, send electronic invoices, accept payments, and pay billers and suppliers using CashFlow Central.
<p>What is CashFlow Central created by Fiserv in partnership with?</p>
CashFlow Central is created by Fiserv in partnership with leading B2B payments-as-a-service platform provider Melio.
<p>What pain point does CashFlow Central address for small businesses?</p>
CashFlow Central addresses cash flow and invoice/bill payment management, which is considered an ongoing pain point for small businesses.
<p>How does CashFlow Central benefit financial institutions offering it?</p>
Financial institutions offering CashFlow Central can benefit from new revenue sources through premium services, card usage, and increased deposits.
