Bill.com’s first of its kind banking platform provides Mercantile’s
customers seamless access to AP, AR and cash flow management capabilities
PALO ALTO, Calif.--(BUSINESS WIRE)--
Bill.com,
the leader in integrated bill payment, online invoicing and cash flow
management solutions for businesses, today announced that Mercantile
Bank of Michigan (NASDAQ: MBWM) has standardized its online business
banking services on the award-winning Bill.com platform. Mercantile Bank
of Michigan is the first financial institution to utilize Bill.com’s
platform and provide its customers with seamless access to robust AP, AR
and cash flow management capabilities all in one easy-to-use solution.
By partnering with Bill.com, Mercantile Bank of Michigan is providing a
game-changing toolset that enables deeper relationships with its most
valuable customers and positions the bank at the core of its customers’
business. Mercantile Bank of Michigan is also streamlining its business
banking services and improving efficiencies due to the holistic and
unified financial services offering.
“At Mercantile Bank of Michigan, we are always looking for innovative
and secure ways to help our customers manage their businesses more
effectively,” said John Schulte, senior vice president/CIO, Mercantile
Bank of Michigan. “By partnering with Bill.com, we are able to provide
our business customers with long-term added value by giving them
authenticated access to Bill.com’s suite of banking services in a
centralized hub.”
The Bill.com platform provides Mercantile Bank of Michigan business
customers a solution that automates manual processes and makes it
seamless to send and receive payments through multiple payment channels.
It also helps businesses manage cash more effectively by providing a
comprehensive view into their cash flow position for better decision
making. Mercantile Bank of Michigan customers benefit from an integrated
experience that includes single sign-on (SSO); one click setup of their
company, users and bank accounts; and the ability to pay and get paid
immediately after setup.
In addition, Mercantile Bank of Michigan’s customers gain the ability to
collaborate with their vendor and customer networks, while a powerful
and comprehensive cash flow dashboard offers fast and reliable control
over all of their critical cash flow information. The Bill.com platform
also replaces static and unwieldy spreadsheet-based accounting
processes, positioning online banking as the core cash flow management
tool.
Unlike most online banking systems for business that are infrequently
visited by banking customers, customers using the Bill.com platform
login on average two times per day to follow up on a receivable, review
and approve a bill, make a payment, or perform other financial tasks.
Furthermore, given the comprehensive nature of the Bill.com platform,
many more people from the business login in regularly – from the CFO
keeping an eye on cash to a line manager approving a bill. In addition,
Mercantile Bank of Michigan customers using the Bill.com platform will
be automatically introducing their network of customers and vendors to
these powerful new services.
“The vast capabilities the Bill.com platform offers has created
tremendous efficiency for our business,” said Cliff Walkington, a
Mercantile Bank of Michigan customer from Hammond Farms in the greater
Michigan area. “We no longer have to rely on manual processes, view
separate cash flow pages or waste time looking for information when
doing our business banking. By logging onto Mercantile Bank of
Michigan’s website, we can focus on what we do best as a landscaping
materials supplier, which is to service our customers rather than spend
countless hours on cash management.”
In addition to SSO, bank branding and seamless on-boarding capabilities,
Bill.com is extending its platform to offer banks many options for
integrating their current online banking environment to the Bill.com
solution. The platform now offers even more branding customization
options to support financial institutions’ desire for brand consistency.
“Our partnership with Mercantile Bank of Michigan reiterates the
importance of providing their customers with a single platform to
seamlessly manage all financial transactions within one system,” said
René Lacerte, CEO and founder of Bill.com. “We are confident there is no
other platform in the market that is more complete or is as easy to use
as ours, and we encourage other financial institutions to take a closer
look at what Mercantile Bank of Michigan is doing to benefit their
customers.”
For more information about the Bill.com financial platform for banks,
please contact Bill.com at banks@hq.bill.com.
About Mercantile Bank Corporation
Based in Grand Rapids,
Michigan, Mercantile Bank Corporation is the bank holding company for
Mercantile Bank of Michigan. Founded in 1997 to provide banking services
to businesses, individuals and governmental units, the Bank
differentiates itself on the basis of service quality and the expertise
of its banking staff. Mercantile has seven full-service banking offices
in Grand Rapids, Holland and Lansing, Michigan. Mercantile Bank
Corporation’s common stock is listed on the NASDAQ Global Select Market
under the symbol “MBWM.”
About Bill.com
Bill.com is a cash flow command and control
system that manages accounts payables and receivables for businesses of
all sizes. Offering online bill pay, custom invoicing services,
unlimited document storage, collaboration tools, and mobile access,
Bill.com’s services easily syncs to customers’ accounting software
programs and online bank accounts to better control company financials.
Bill.com guards against errors and employs enterprise-class fraud
protections that current methods cannot match. More than 100,000
companies are now getting paid and paying millions of bills worth
billions of dollars using Bill.com. Financial institutions can now offer
the benefits of Bill.com to its business customers by using Bill.com as
its business-banking platform.
for Bill.com
Jeff Seedman
415-249-6763
jeff@finnpartners.com
or
Allison
Yochim
415-348-2724
allison@finnpartners.com
Source: Bill.com