Case Study: Seaside National Bank & Trust cuts payment processing from weeks to one day and boosts revenue with Edenred Pay

Bank takes payment processing times from weeks to days with virtual credit cards

Seaside National Bank & Trust, a community bank with 14 offices, faced slow, paper-based accounts payable: invoices required regional routing, signatures and mailing, leaving vendors waiting two to three weeks for payment. Seeking to go paperless for invoices, approvals and payments, Seaside turned to Edenred Pay’s virtual card payment solution integrated with their BankTEL ASCEND AP platform.

Edenred Pay’s integration automated Seaside’s payment workflow so files from BankTEL ASCEND are sent directly for virtual card distribution, cutting vendor payment time from weeks to one business day. The rollout was fast (15 minutes of training, a few hours to go live), delivered an initial 10% vendor enrollment, eliminated check printing and manual processing costs, and generated incremental revenue through Edenred Pay’s cash rebate on card spend.

Seaside National Bank & Trust

Nicole Hulbert

Senior Accountant with Seaside