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FT. LAUDERDALE, Fla., March 5, 2015 (GLOBE NEWSWIRE) -- PAYBOX™ from Direct Insite Corp. (OTCQB:DIRI) was recognized by conference attendees as the BAI Payments Innovation Track Award winner at the BAI Payments Connect 2015 conference held March 2-4 in Phoenix, Arizona. The BAI Payments Innovation Track highlighted innovative solutions providers through rapid-fire 7-minute demos and presentations.
"Direct Insite is extremely pleased that PAYBOX was recognized as the winner of the BAI Payments Innovation Track Award. Banks and credit unions are in a unique position to help businesses accelerate Days Sales Outstanding, utilizing PAYBOX to streamline receivables posting and reconciliation, and improve visibility into cash flow," said Direct Insite Chairman and CEO Matthew E. Oakes.
PAYBOX was developed to be white-labeled by banks and credit unions as part of an integrated receivables or electronic lockbox strategy. PAYBOX combines flexible capabilities for invoice presentment, online approvals and adjustments, electronic payments, and integration with any legacy receivables or lockbox system.
PAYBOX was selected for the BAI Payments Innovation Track Award out of 14 participating organizations by conference participants.
"The BAI Payments Innovation Track at BAI Payments Connect allowed payments executives to learn about new, innovative solutions from organizations who are leading the way in financial services technology," said Debbie Bianucci, president and chief executive officer at BAI. "Attendees at the conference were provided the opportunity to vote on the organization they believed had the most innovative solution and we were pleased to hear that Direct Insite was chosen as the BAI Payments Innovation Track Award winner. We offer them our congratulations!"
This one-of-a-kind industry event focuses exclusively on providing fresh perspectives about the future of the industry, actionable insights and innovative solutions that payment leaders need to create a forward-looking strategy for managing the rapid, disruptive changes that continue to define the payments space.
About Direct Insite
Direct Insite™ provides a powerful platform for unified working capital management that facilitates over $160 billion worth of transactions annually between more than 375,000 companies worldwide. Direct Insite's clients include IBM, Siemens, BE Aerospace, Saint Gobain, Carlson, and one of the largest financial institutions in the world. The flagship component of Direct Insite's unified working capital management platform is PAYBOX™, an innovative receivables automation solution that combines electronic invoicing, online approvals and adjustments, electronic payments, and integration with any legacy accounting, ERP or lockbox system. PAYBOX™ is primarily sold through banks to corporate users of their treasury management and lockbox services. Banks and corporations use PAYBOX™ to reduce Days Sales Outstanding, lower costs, and improve straight-through AR posting. Learn more at www.directinsite.com.
BAI is the financial services industry's resource for breakthrough information and intelligence needed to innovate and stay relevant in an evolving marketplace. For 90 years, BAI has provided the industry with unbiased and objective education and research. BAI's offerings are as diverse as the industry, and include premier events such as BAI Payments Connect Conference & Expo, groundbreaking research, professional learning and development programs, and in-depth editorial coverage through BAI Banking Strategies. For more information, visit www.bai.org.
BAI is Bank Administration Institute and BAI Center.
About BAI Payments Connect
BAI Payments Connect is the industry's premier payments conference. The event is attended by more than 700 payments professionals and solutions providers who converge to focus on current issues, challenges, and opportunities in the payments space. This highly engaging, interactive event provides attendees with practical solutions needed to manage disruptive technology, build customer relationships, streamline check and payment operations, reinforce cyber security efforts, and grow payments revenue streams. For more information visit: BAIPaymentsConnect.com