A new mobile application for automated remittance processing and payment via mobile device called MobiREMIT leverages the Top Image Systems’ mobile imaging platform.   

Remittance processing companies today can only begin to process payment requests upon receipt of physical remittance documents at a processing centre.  MobiREMIT shortens this processing cycle and makes funds available faster. 

The first step is mobile capture of both payments and remittance advices in one digital envelope, which reaches the processing centre in real time; then the cheque image can be transferred for immediate deposit.  Automatic recognition and processing of semi-structured remittance advices reduces the time, investment, and errors associated with manual data entry of such paper forms.

MobiREMIT adds to the Top Image Systems’ mobile imaging solution portfolio, along with MobiCHECK, MobiPAY, MobiFLOW and a growing list of mobile applications that leverage mobile devices to optimise various use cases involving image processing.  

“We have already seen the market show strong interest in MobiREMIT,” commented Isaac Rome, VP Global Banking and Mobile, Top Image Systems. 

 “The benefits gained by using a mobile device to close payment loops faster by speeding remittance advice processing and accelerating payment accordingly is an area companies are interested to streamline.  The mobile workforce today wants to be able to process payments in the field at the time of delivery to eliminate processing delays on accounts receivables and improve cash flow.”