Regions Bank Debuts Real-Time Payments for Corporate Clients

Regions Bank has debuted a digital tool that lets its corporate banking customers send real-time payments through The Clearing House RTP network.

According to a Tuesday (Oct. 11) news release, the new service is part of the Alabama-based bank’s iTreasury platform, which offers financial management options for businesses through Regions’ Treasury Management division.

“The ability to send and settle digital payments within seconds will help our clients focus more of their time on efficiently managing successful companies while we provide an even deeper level of financial solutions,” Bryan Ford, head of Treasury Management for Regions Bank, said in the release.

While treasury management clients can now receive payments in real-time, the added ability to send payments in real-time through Regions iTreasury lets them instantly process digital payments for a range of needs.

Regions Bank says it will soon debut Regions CashFlowIQSM, designed to improve cash flow for clients by “providing seamless accounts payable, accounts receivable, invoicing, and business bill payment capabilities for small and mid-sized businesses.”

See also: Regions Bank On Providing Superior And Secure Money-Out Customer Experiences

Earlier this year, PYMNTS spoke with Tim Mills, senior vice president of emerging payments strategy at Regions Bank.

He spoke of the balance financial institutions (FIs) have to strike in making the money-out mobility experience both seamless and secure while also making every customer task quick and simple.

The two crucial pieces for low-friction security are authentication and validation, Mills told PYMNTS. For authentication, best-in-class solutions let FIs protect their customers against bad actors who try to conduct transactions under false pretenses. Validation offers deeper security by helping FIs know customers beyond their credentials.

FIs that understand things like the typical number and types of transactions customers engage in can offer a deeper level of security without significantly burdening them. At the same time, those processes need to be intelligent enough to keep from needlessly flagging transactions or inconveniencing customers.

“It really is striking that balance between empowering the experience and at the same time exercising due diligence,” Mills said.

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