Truist Financial Corporation, today announced a new solution designed to empower its wholesale payments clients with greater control and efficiency over their billing and payment operations. The bank's Electronic Bill Presentment and Payment platform will provide a modern approach to managing payments, streamlining operations, improving client satisfaction and driving growth.

The new platform allows businesses to accelerate cash flow with faster payment processing, simplify operations with automated workflows and enhance security with robust fraud prevention tools. By automating tasks like invoicing and payment reconciliation, Truist clients can free up valuable time and resources to focus on serving their clients and growing their business.

Truist's EBPP solution — which will be available Nov. 1 to all commercial and corporate clients, and the consumers they serve — is highly adaptable and designed to benefit a wide range of organizations, from utilities and financial services providers to healthcare organizations and municipalities. For payers, it provides numerous flexible payment options — from online and mobile to text, digital assistant and Intelligent Voice Response (IVR). For billers, EBPP streamlines operations, reduces billing costs and delivers innovative payment experiences.

"As payers increasingly expect digital payment channels, businesses need payment solutions that are secure, efficient and seamlessly integrated into their operations," said Truist Head of Enterprise Payments Chris Ward. "Our new Electronic Bill Presentment and Payment solution helps clients achieve their electronic collection objectives by offering a safe, simple and quick way to accept payments through multiple channels."

Truist's EBPP solution offers a comprehensive suite of features designed to:

• Optimize and automate operations: Streamline billing and payment processes to reduce manual effort, minimize errors and accelerate cash flow.
• Enhance the client experience: Offer a modern and convenient payment experience with online, mobile and text payment options, all accessible through a customizable portal.
• Gain financial control: Track payments in real-time, monitor payment history and generate detailed reports.
• Strengthen security: Protect sensitive data with robust security measures.