July 17, 2018
HOUSTON, July 17, 2018 /PRNewswire/ -- BBVA Compass has announced the launch of its industry-first BBVA Compass RealTime ARP™ and BBVA Compass RealTime Positive Pay™ products for commercial clients.
Positive Pay is a proactive fraud prevention product that alerts businesses to potential fraudulent transactions on their check or electronic payments. ARP services automate the check reconciliation process and provide reporting capability for processing account data.
"BBVA Compass has made its way to the front of the financial industry's digital revolution on the strength of its technology and its vision, which these products represent," said BBVA Compass Director of Multi-Channel Development Gabriel Palafox. "BBVA Compass is the first U.S. bank to offer true real-time Positive Pay fraud prevention and ARP reconciliation. These products are capable of completely changing the way back-office operations function."
BBVA Compass RealTime Positive Pay™ verifies checks and ACH transactions as they are presented for payment, giving customers information about exceptions as they happen. Users can establish alerts to stay informed about account activity. A dashboard within the BBVA Compass net cash™ system provides an at-a-glance view of exceptions and allows customers to make pay or return decisions quickly and easily. The service also gives users up to 34 hours to make these exception decisions -- a much longer window than the industry average of two hours.
BBVA Compass RealTime ARP™ provides an overview of check and electronic transaction activity as it happens in real time and automates the check reconciliation process. A customizable dashboard provides a consolidated view of items as they post to accounts. Reporting features allow users to create detailed reports using both the BBVA Compass net cash online platform and mobile app.
To learn more about BBVA Compass, visit: www.bbvacompass.com
About BBVA Group
BBVA (NYSE: BBVA) is a customer-centric global financial services group founded in 1857. The Group has a strong leadership position in the Spanish market, is the largest financial institution in Mexico, it has leading franchises in South America and the Sunbelt Region of the United States; and it is also the leading shareholder in Garanti, Turkey's biggest bank for market capitalization. Its diversified business is focused on high-growth markets and it relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. More information about BBVA Group can be found at bbva.com.
About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that operates 649 branches, including 336 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 in Florida, 37 in Colorado and 18 in New Mexico. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (6th). BBVA Compass has been recognized as one of the leading small business lenders by the Small Business Administration (SBA) and ranked 6th nationally in the total number of SBA loans originated in fiscal year 2017. Additional information about BBVA Compass can be found at www.bbvacompass.com. For more BBVA Compass news, follow @BBVACompassNews on Twitter or visit newsroom.bbvacompass.com.
SOURCE BBVA Compass
For further information: Al Ortiz, External Communications, Tel. 281-433-5640, email@example.com