construction payments Archives - BankLabs

Bank Business – Mobile Tools to Improve Relationship Based Banking

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Relationships with business banking customers has become increasingly important over the last few years, especially with several competitors in the market. How is your FI taking your customer into consideration when providing digital solutions? The latest article in Bank Business by President and Co-founder of Bank Labs breaks down how to build a better relationship with business banking customers : https://www.bankbusiness.us/so-you-say-youre-a-relationship-banker/

PayThink – Pennsylvania’s payment regulation will tighten construction transaction controls nationwide

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On Oct. 10 the state of Pennsylvania enacted significant changes to its Contractor and Subcontractor Payment Act (CASPA). In short, the amendments provide increased protections for payment on private construction projects, while at the same time impose new and additional notice requirements of which owners, lenders, contractors and subcontractors must all be aware.  For the full article visit PaymentsSource


BankLabs Selected to Constructech 50 for 2018

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BankLabs is honored to be named to Constructech’s Top 50 companies in 2018 for construction technology for our construction payment automation product, +Pay. This program recognizes the leading technology and software companies – from companies with a single offering to companies that may house multiple software or hardware platforms.

Our +Pay product is cloud-based and accessible from any mobile device or computer. It standardizes builders and general contractors payment process to improve efficiency, provide real-time data access and help their sub-contractors succeed.  Features include electronic payment requests from sub-contractors, including supporting lien waivers and invoices. The product automates 1099 tax reporting and provides fast and easy electronic payments to sub-contractors.

View the full list of winners here.[/vc_column_text][/vc_column][/vc_row]