A recognized leader of electronic presentment and payment applications, Striata, talks today about how their innovative electronic credit and collections solution is designed to help billers reduce the significant costs associated with delinquency and past due accounts.

The strategic presentment of collection and reminder notices is the uniqueness of the Striata solution, delivered as secure electronic documents directly into the customer’s inbox. Providing a powerful direct payment channel, Striata incorporates an instant, one-click payment facility from within the collection notice itself.

By replacing paper collection activity with rich, interactive electronic payment notices that are delivered directly to customers via email, Striata’s Electronic Credit & Collections offering provides an efficient, cost effective alternative that dramatically reduces the time and expense involved in collecting delinquent payments. Without the need to visit a single web page, these electronic collection notices are uniquely able to generate quick payment with just a single click.

The Striata process utilizes the biller or financial institutions existing electronic payment capabilities. They have partnered with the leading payment processors in North America and can rapidly configure the application to work with any existing payment processing system.

Unfortunately, paper billing, does not provide billers with an effective means to minimize delinquent payments. The long delivery cycle is simply not a practical option. By the time the customer gets the reminder it may be out of date, have already paid, and not include current late charges.