Many financial institutions have recognized the opportunity to help middle market businesses automate AP with virtual commercial cards, but have not been able to offer an easy to implement and easy to use solution that fully automates the process. Financial institutions will now be able to offer this platform to help middle market businesses improve cash flow, make real-time payments, increase security, and rely less on paper checks.
The MineralTree platform offers a number of key features including integration with Visa Payables Solutions for Visa virtual commercial card payments and supplier enablement; direct integration with bank and credit card accounts for account balances and transaction reporting; two-way synchronization with common Accounting/ERP applications (e.g., Intacct, Microsoft Dynamics GP, NetSuite, QuickBooks and Sage 50); automated invoice data capture and online approval workflow
More than that, the platform offers payment authorization security and control: segregation of duties, dual approval, two-factor payment verification, authorization limits, Positive Pay support and supports payments by multiple methods: check, ACH, virtual credit card, and wire.
MineralTree guaranteed protection against online fraud and private-label support for bank branding.
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