Case Study: Citizens Bank achieves End-to-End Accounts Payable Automation with Bottomline's Paymode-X

Achieves End-to-End Accounts Payable Automation with Electronic Payment Network

Citizens Bank, a large U.S. financial institution, set out to expand its treasury management and disbursement offerings for commercial customers while improving internal accounts payable processes. The bank needed to broaden payment options, enforce consistent vendor payment terms, generate additional revenue, and reduce manual AP work and fraud risk.

To meet those goals Citizens adopted accessPAYMODE-X, Bottomline Technologies’ electronic B2B payments network, and used Bottomline’s enrollment services to bring vendors onto the platform. The solution automated 85% of AP spend, standardized vendor terms (net 45), increased payment visibility and cash-flow forecasting, reduced fraud exposure by securing vendor banking data, and produced new rebate revenue and operational efficiencies.

Citizens Bank

Craig McCarthy

AP Accounting Manager