You have probably heard the phrase “work smarter, not harder.” Digital tools for commercial banking help you do just that. They’re designed to streamline commercial operations so you can focus on doing what you do best—running your business.
At Riverview Bank, we believe in giving clients the tools and resources they need to succeed financially. Discover the commercial banking tools that will save you time, money, and energy while maximizing operational efficiency.
User Management Controls
Whether you’re a single enterprise with one main point person or a large corporation with multiple subsidiaries, you can easily control who’s able to access what with our secure Commercial Digital Banking systems.
You will start by drafting your Company Policy—a list of allowed actions and limits within your business. Within the Company Policy, you will create user roles. For example, one user may be able to draft transactions while another user may have the authority to approve them. This helps you create a system of checks and balances for efficient and smooth operation of your business.
You can also manage all your subsidiaries within a single Company Policy, giving you centralized control within a single system. For each transaction type, you have the option of allowing all subsidiaries or selecting only certain ones.
Riverview’s Commercial Digital Banking tools allow you to streamline operations by managing transactions for the parent company and its subsidiaries, all under one virtual roof.
Cash Management Solutions
Cash management solutions make managing your money and protecting your business easy and convenient. Features like Positive Pay help you detect and prevent fraud to minimize your risk of financial loss.
ACH Positive Pay
With ACH Positive Pay, you’re able to set parameters (ACH Authorization Rules) for all your ACH transactions. If anything falls outside of these parameters, the transaction will be flagged as an exception item. You’ll then have the opportunity to review exception items and decide whether to pay or return them.
Check Positive Pay
Cutting a check? Check Positive Pay helps reduce instances of check fraud, a common problem for businesses of all sizes. To take advantage of this fraud prevention tool, you’ll electronically submit information for each check your business issues. Once you’ve entered details such as the amount, check number, issue date, and payee, you’ll be notified if any checks presented for payment don’t match up with the provided information.
Account Reconciliation Summary
The Account Reconciliation Summary tool makes it easier to balance your books. The summary tool takes into account outstanding checks, stop payments, and other transactions so you can know exactly how much cash you’ll have on hand at any given time.
Choose from 17 reports or customize your own to make informed, data-driven business decisions. For example, the Company User Activity Report allows you to view all transactions drafted and approved by a specific user. Schedule other reports to track your transaction history or compare account balances over a specific period.
Knowledge is power and with automated cash management solutions, you’ll have all the information you need at your fingertips in just a matter of minutes. Our digital banking tools are designed to deliver a personalized experience and provide quick, convenient access to financial insights that support smarter decision-making.
Online Payment Systems
Running a business involves many moving parts. You have to juggle payroll and benefits, operating expenses, vendor invoices, taxes, and so much more.
Business Bill Pay helps you stay on top of it all. You can pay anyone—a vendor, contractor, or freelancer—simply by adding them as a payee in the system. All you need is their email address. They will then be sent a link to input their deposit information, which is securely stored.
Once you’ve issued payment, they will receive an email notification that a deposit has been made to their account. You also have the option of importing payees from QuickBooks or Quicken.
Business Bill Pay makes budgeting simple and manageable with the ability to group payees into categories to help organize bills and track your budget. Customized reports also give you a detailed overview of your spending habits to help you better manage your finances.
For recurring transactions, create a template to save time, reduce errors, and keep payments consistent. Whether you’re sending a wire transfer to a vendor or disbursing payroll to multiple employees, creating templates makes recurring payments quick and easy.
Mobile Apps
Riverview Bank’s user-friendly mobile apps allow you to access our commercial banking resources from anywhere in the world. Digital banking is available on all devices and offers a secure, convenient way to access our Commercial Digital Banking tools on the go.
Check balances, send transfers, and make deposits to your commercial banking account around the clock. You can also set up real-time alerts for instant account notifications—giving you the ability to always stay in the know regardless of where you are or what device you’re using.
Consider setting up multi-factor authentication for enhanced security, such as Apple Touch ID, Face ID, or Android Fingerprint. To set up your biometric authentication, enable the biometric security settings on your device and then tap Touch ID, Face ID, or Biometrics on the Riverview Mobile Banking App login screen. From there, simply follow the prompts to get everything set up.
These are just a few of the digital tools available to our commercial banking clients. Want to learn more about everything we have to offer? Schedule a time to meet with a member of our commercial banking team.
As your neighbor, we’re invested in the success of your business. After all, your success fuels our community’s growth. So let’s work together to build a vibrant and thriving region we’re proud to call home.