LOS ANGELES, March 19, 2013 (GLOBE NEWSWIRE) -- City National Bank now offers City National Book2Bank, a new online and mobile business banking solution that connects with accounting systems like QuickBooks® to automate and simplify payment activities. This new solution allows a business owner to more easily manage invoices, generate electronic payments and streamline the payment approval process.
"City National is deeply committed to helping our business clients succeed and to offering solutions that help them reach their goals," said James Daley, executive vice president and manager of Treasury Services for City National Bank. "City National Book2Bank streamlines and secures the payment process, improves controls and gives our clients the simple, intuitive experience they expect."
The system is designed to solve a financial challenge for small and mid-size businesses. Many of these firms find the majority of online business payment systems either too small and geared for individual consumers, or too complex and geared for large corporations that process as many as 500 payments a month. City National Book2Bank synchronizes automatically with QuickBooks®, simplifying payment processes and eliminating the need to enter information more than once.
Key benefits of City National Book2Bank include:
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Integrated Payments – Clients can choose from electronic payments or automated check processing fulfilled by City National.
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Mobility – Clients can review and approve payments on a PC or iPad.
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Enhanced Security – Locked down architecture and available segregation of duties virtually eliminates the risk of online fraud.
- Streamlined Record Keeping – Clients can link and store invoices and supporting documents for easy retrieval and review.
"It's very easy – very transparent," said Greg Gallup, chief operating officer for Royal Coach Tours, a charter bus transportation firm in San Jose and a City National client that uses City National Book2Bank. "Our president likes it because she can make approvals from her iPad, which is convenient and saves time. You can also see the entire invoice, which is really helpful."
To create City National Book2Bank, City National partnered with MineralTree® Inc., a Cambridge, Mass., firm that delivers online payment solutions to the financial services industry.
"City National Bank is always looking for new ways to make banking easier, especially for small businesses," said BC Krishna, founder and CEO of MineralTree. ®Inc. "We're pleased to partner with City National in this effort."
To learn more about City National Bank's Book2Bank click here: https://www.cnb.com/banking/treasury-cash-management/small-business/manage-payables/book-2-bank.asp
About City National
City National Bank is the wholly owned subsidiary of City National Corporation (NYSE:CYN). It is backed by $28.6 billion in total assets, and provides banking, investment and trust services through 78 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville and Atlanta. The company and its investment affiliates manage or administer $56.7 billion in client investment assets, including $38.2 billion under direct management. For more information about City National, visit the company's website at cnb.com.
About MineralTree® Inc.
Based in Cambridge, Mass., MineralTree delivers secure, online payments solutions to banks that are specifically designed to meet the needs of their small and medium business customers. The solution provides a simple, streamlined approach that brings new efficiency, security, and convenience to payments and cash management processes while helping to enhance the bank's customer relationships.