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Onbe and ZSuite Tech partner

Thursday 11 July 2024 11:58 CET | News

Onbe has partnered with ZSuite Tech to provide an embedded digital disbursement option for more than 90 banks in the US that use ZSuite Tech. 

 

According to the press release, the partnership allows the banks to offer a simplified and cost-efficient mechanism for issuing payments through popular methods including virtual cards, ACH, push to card, and mobile wallets. The integration of Onbe's advanced payout capabilities with ZSuite's platform provides a comprehensive solution for banks and their commercial customers, effectively addressing complex ledgering, fund allocation, and disbursement challenges across industries such as property management, legal services, municipalities, and healthcare.  


The digital payment solution, developed in partnership with Onbe, will enable ZSuite Tech's bank clients and their business customers to meet the demand for faster payouts, eliminating the cost and hassle of issuing paper checks. 

Onbe has partnered with ZSuite Tech to provide an embedded digital disbursement option for more than 90 banks in the US that use ZSuite Tech.

 

Officials at Onbe commented that through this partnership, Onbe can now expand its core focus of payouts to include managing funds at rest, ultimately helping banks deliver a more modern payout experience while eliminating compliance concerns. 

Additionally, Onbe's StateSmartSM solution will simplify the payout process for ZSuite Tech's clients by fully managing escheatment, compliance risk and administrative expense. This solution removes the burden and cost of handling unclaimed property. 

About ZSuite Tech 

ZSuite Tech is a fintech that aims to power financial institutions with digital escrow products for specific commercial verticals that they can offer to their clients. ZSuite's products, ZRent and ZEscrow, streamline collection of recurring payments and automate the management and compliance around three-party accounts and multi-use escrow subaccounting.  

About Onbe 

Onbe is a fintech that manages and modernises customer and workforce disbursements for corporate clients ranging from mid-market to the Fortune 500. Onbe's team of experts and technology platform offers clients solutions to offload their entire B2C payment operations, relieving them of the cost, complexity and risk that come with orchestrating these payments in-house. 

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Keywords: partnership, banks, payments , payout, digital payments
Categories: Banking & Fintech
Companies: Onbe
Countries: United States
This article is part of category

Banking & Fintech

Onbe

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