Truist Financial Corp. rolled out a new solution last week designed to empower its wholesale payments clients with greater control and efficiency over their billing and payment operations.

The bank said its electronic bill presentment and payment platform will provide a modern approach to managing payments, streamlining operations, improving client satisfaction and driving growth.

Truist highlighted its new platform can allow businesses to accelerate cash flow with faster payment processing, simplify operations with automated workflows and enhance security with fraud prevention tools.

By automating tasks like invoicing and payment reconciliation, Truist said its clients can free up valuable time and resources to focus on serving their clients and growing their business.

Truist said its EBPP solution — that will be available Nov. 1 to all commercial and corporate clients and the consumers they serve — is adaptable and designed to benefit a wide range of organizations, from utilities and financial services providers to healthcare organizations and municipalities.

For payers, the tool can provide flexible payment options — from online and mobile to text, digital assistant and intelligent voice response (IVR).

For billers, the EBPP can streamline operations, reduce billing costs and deliver innovative payment experiences.

Bottom line: Truist said EBPP solution can offer a comprehensive suite of features designed to:

—Optimize and automate operations: Streamline billing and payment processes to reduce manual effort, minimize errors and accelerate cash flow.

—Enhance the client experience: Offer a modern and convenient payment experience with online, mobile and text payment options, all accessible through a customizable portal.

—Gain financial control: Track payments in real-time, monitor payment history and generate detailed reports.

—Strengthen security: Protect sensitive data with robust security measures.

“As payers increasingly expect digital payment channels, businesses need payment solutions that are secure, efficient and seamlessly integrated into their operations,” Truist head of enterprise payments Chris Ward said. “Our new electronic bill presentment and payment solution helps clients achieve their electronic collection objectives by offering a safe, simple and quick way to accept payments through multiple channels.”