FirsTech, Inc. Company Research Report
Company Overview
- Name: FirsTech, Inc.
- Mission: To provide innovative systems, processes, and services of the highest quality in the customer payment processing industry.
- Founded: Began operations in 1984 as a lockbox processing facility and a department of First National Bank of Decatur.
- Founder(s): Became a separate subsidiary in 1988 due to growing opportunities to expand service offerings.
- Key People:
- Humair Ghauri: President & CEO, FirsTech Inc. | EVP Technology, Busey Bank.
- Matt Dowds: Chief Product Officer.
- Intisar Chaudry: SVP, Director of IT Business Risk and Controls.
- Nick Zotti: VP, Director of Technology Operations.
- Colleen Grant: VP, Director of Lockbox.
- Christen McLeod: VP, Director of Enterprise Sales.
- Bridget Good: VP, Software Services Manager.
- Elissa McGlaughlin: AVP, Senior Product Marketing & Communication Manager.
- Headquarters: 263 S. Park Street, Decatur, IL 62523.
- Number of Employees: No information is available.
- Revenue: No information is available.
- Known For: A leading expert in payment solutions, particularly for Government, Utilities, Financial Institutions, Businesses, and Consumers.
Products
FirsTech offers a comprehensive suite of payment solution products known for their security and technological advancements:
1. Electronic Payments
- Description: Secure, flexible payment options allowing customers to view their accounts and make payments conveniently.
- Features:
- "My Account" Solution for secure and flexible payments via eCheck or credit card.
- Customizable payment options for businesses.
- Electronic bill and invoice presentment to eliminate printing and postage.
2. Mobile Solutions
- Description: Enables secure payments through mobile devices.
- Features:
- Pay by Text feature for executing payments through text responses.
- Responsive mobile application design to access account solutions via smart devices.
3. Telephone Payments
- Description: Offers payment options via an Interactive Voice Response (IVR) telephone system.
- Features:
- Automated voice payments
- Offers live representative payment options for verification and processing.
4. In Person Payments
- Description: Provides a wide network for in-person payment processing.
- Features:
- Network of about 6,000 agent locations.
- Offers third-party services and access to numerous municipalities and service providers.
5. Remittance Processing
- Description: Comprehensive lockbox solution suite supporting traditional and innovative remittance processes.
- Features:
- Includes Lockbox, eLockbox, and remote capture with real-time online access.
- Remote Image Archival System for quick research of payment activities.
6. FI Services & Reporting
- Description: Offers unique services as a subsidiary of a financial institution, including image cash letter processing and NACHA formatted ACH files.
- Features:
- Provides BAI and EDI reporting functionalities.
7. Merchant Services
- Description: Customized credit card processing solutions for businesses.
- Features:
- Point of Sale solutions and associated software for seamless transactions.
- E-commerce solutions with online gateways and mobile credit card processing with security and fraud prevention measures.
Recent Developments
- New Developments:
- Expansion of Lockbox Solution Suite with a new high-capacity capture site in Glenview, Illinois.
- Partnership with Alliance Payment Solutions to enhance offerings.
- Products Launched:
- No specific new products were detailed in the provided information.
- Features Added to Existing Products:
- Expanded capabilities in the Lockbox Solution Suite.
- Deployment of advanced capture and online access technologies.
- Partnerships:
- Recent partnership with Alliance Payment Solutions as part of their Lockbox expansion.
FirsTech is positioned as a leader in payment solutions, offering robust, secure, and diversified products across various industries with a commitment to technological innovation and customer satisfaction.
