The MineralTree service includes a series of applications such as the MineralTree Accounting Manager Application, the MineralTree CFO Application and the MineralTree Bank Operations Application.
The MineralTree Accounting Manager Application focuses on managing payables such as entering payment information, associate payments with backup documents and to prioritize, recommend and submit payments to the CFO or business owner for approval.
The MineralTree CFO Application enables the CFO or responsible executive to approve and release payments. The MineralTree Bank Operations Application allows banks to manage MineralTree users.
The three applications are available via the MineralTree Payments Server, which coordinates and manages all payment functions of the system between customers, the bank and payment service providers.
In addition, the MineralTree service enables users to handle multiple payment types (checks, ACH, wires, credit cards) via one interface and uses electronic document-management technologies to eliminate paper for backups and approval processes.
The first implementation of the MineralTree is set for Silicon Valley Bank, a division of Financial Group in California.
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