WaFd Bank to deploy Fiserv’s CashFlow Central for small business customers
US-based WaFd Bank has tapped Fiserv to deploy a new digital payment and cash flow management solution for its small business customers.
WaFd Bank partners Fiserv for CashFlow Central
The full-service bank, headquartered in Seattle, has selected the vendor’s CashFlow Central solution which Jill Boyle, its SVP and head of the commercial product and treasury solutions group, says will “enable us to help our customers simplify and streamline billing and payment processes”.
Formerly known as Washington Federal, WaFd Bank currently provides a range of different banking services tailored to small businesses, including current and savings accounts, credit and payroll services, inventory systems and customer engagement tools.
As the latest addition to this remit, CashFlow Central enables small businesses to send electronic invoices, accept payments through ACH transfers and credit cards, and pay billers and suppliers via a bank account or credit card. It also supports additional options for expense management, card issuing and merchant services.
Matt Wilcox, president of digital payment solutions at Fiserv, says CashFlow Central will allow WaFd Bank to take “a holistic approach to serving their small business clients…helping them streamline operations and improve cash flow”.
The solution is the result of Fiserv’s partnership with B2B payments-as-a-service platform provider Melio, which was announced last October and is due to be integrated into its treasury management offering in Q4 2024.
