Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that it has established a partner relationship with TOPS Software, a leading provider of property management software products and services, to make payment processing faster and more efficient for property managers. Fiserv clients who use the RemitStream ® Exception Handling property management solution and also use TOPS Condo/HOA management software are now able to automatically resolve exceptions during payment processing through integration of homeowner data between the two solutions.
As a TOPS Authorized Integration Partner, Fiserv worked with TOPS to create a specialized file that is in a specific format for loading into the Fiserv processing system without any further manipulation. The data file is used to create “accept,” “stop” and “name and address lookup” files that are used during the front-end of payment processing to reduce exceptions that require manual handling by property managers. Fiserv clients who are using the TOPS Professional accounting software will have the file format automatically available in their software.
“We know that many of the property managers who use RemitStream Exception Handling also use the TOPS solution, so to make the exceptions handling process easier and faster, we worked with TOPS to create this specialized data extract file,” said Anna Quinlan, president, Item Processing and Remittance Solutions, Fiserv. “The data in this file is used to augment missing information during processing, which reduces exception items that require manual intervention so property managers can get those payments processed quickly.”
“For many of our property management and HOA clients, payments with missing or wrong information continue to be a costly and time-consuming issue. To address this major issue for our clients, we subscribe to the RemitStream Exception Handling service from Fiserv,” said Jim Salin, executive vice president and business development manager, Pacific Western Bank. “Automated exception processing is a huge benefit to our clients. The partnership between Fiserv and TOPS is important to our clients because it helps automate many of the decisions about exception items previously handled by our clients’ employees.”These property management solutions are part of the RemitStream receivables management portfolio that includes wholesale, retail, whole-tail, image, remote capture and industry-specific lockbox services. Designed for financial institutions that receive and process large numbers of payments each month, these solutions also provide a service platform for corporate clients across a wide range of industries that collect such payments from their own customers.
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