Updation Taps U.S. Bank Payments to Move Dealers Beyond Certified Checks
Updation, an AI-powered accounts payable, vendor management and contract management platform for auto, RV and powersports dealerships, is integrating U.S. Bank Embedded Payment Solutions, a move designed to allow dealers to manage invoices, vendors and payments from a unified environment.
The integration uses a for-benefit-of account structure designed to hold and move funds through a bank-managed framework and reduce the need for Updation to handle customer funds directly.
“Dealerships are looking for ways to reduce manual processes and improve visibility into their finances,” writes Joe Voica, head of embedded payments at U.S. Bank, in a release. “Through this integration, Updation clients will be able to move beyond certified checks and access modern payment options, including real-time payments, through a secure bank-led infrastructure.”
