Press Releases
Mellon Global Cash Management Expanding ARC Solution
PITTSBURGH, October 6, 2005 — Mellon Global Cash Management (GCM) today announced that it is expanding its accounts receivable check (ARC) conversion solution for in-house lockbox processors. This solution is made available through Mellon GCM's technology relationship with CheckFree Corporation. By using the CheckFree ARC ASPTM service, Mellon GCM will enable clients that operate in-house lockbox processing operations to leverage their existing business processes and infrastructure investments by placing an ARC solution within their own remittance processing operations. As a result, clients can benefit from significantly lower processing costs and reduce the time spent on the labor-intensive processing of paper checks.
"As part of our commitment to the future of cash management and the continual delivery of comprehensive, high quality solutions, products and services, we are proud to work with a forerunner in ACH processing whose award-winning quality standards mirror our own," said Robert W. Stasik, executive vice president and director of Mellon GCM. "By combining CheckFree's ARC processing infrastructure with Mellon's industry-leading collections and ACH processing expertise, we will be able to provide our in-house processing clients with the industry's most efficient and flexible ARC solution."
Mellon GCM selected CheckFree's industry-leading ARC services, based upon its commitment to providing the lowest administrative return rates in the industry, coupled with the maximum conversion of eligible items. CheckFree ARC ASP is the only service built on the company's proprietary product database that allows for critical, automated and intelligent decisions based on the most current and broad range of financial data available.
The expansion of its ARC solution is among the number of innovative product demonstrations that Mellon GCM will provide during the Association for Financial Professionals Conference in San Antonio between 8 a.m. and 5 p.m. on Monday, October 10, and Tuesday, October 11 at The Hilton Palacio del Rio, 200 S. Alamo St.
Mellon Global Cash Management, a payments industry leader synonymous with quality performance and known for its innovation and expertise, designs comprehensive solutions through its broad line of cash management services to meet the specialized treasury needs of corporations, nonprofit organizations and financial institutions. Recently, an independently-administered customer satisfaction survey revealed that Mellon GCM continues to distinguish itself from its competition in the areas of operating quality, commitment to cash management and customer service. In addition, Mellon GCM was one of only two providers to achieve an A+ average for product performance in the 2004 Phoenix-Hecht Quality IndexTM of 33 major cash management providers. Throughout 2005, Mellon GCM is celebrating its 50th anniversary in remittance processing. In addition, Mellon GCM is the only electronic payments services provider in the U.S. to successfully complete both a Level 3 Capability Maturity Model® (CMM®) assessment for its software engineering practices and attain ISO 9001:2000 Registration. More information on Mellon GCM is available at www.mellon.com/gcm.
Mellon Financial Corporation is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world's leading providers of financial services for institutions, corporations and high net worth individuals, providing institutional asset management, mutual funds, private wealth management, asset servicing, payment solutions and investor services, and treasury services. Mellon has approximately $4.2 trillion in assets under management, administration or custody, including