Commerce Bank honored at the Impact Innovation Awards

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KANSAS CITY, Missouri – (COMMERCIAL THREAD) – Commerce Bank was recently recognized by Aite Group as an innovative financial institution leveraging best-in-class technology. The Small Business Services division of Commerce won the Customer Experience category at the inaugural Innovation in Cash Management and Payments Forum in New York City for its introduction of CashFlow Complete, a digital business payment solution specifically designed for small and medium businesses ( SME). Powered by leading digital business payments provider Bill.com, CashFlow Complete enables SMBs with long, paper-intensive processes to save significant time, increase efficiency and better manage their cash flow.

The cloud-based single sign-on banking product was designed to help streamline, simplify and automate the entire end-to-end accounts payable and receivable back-office process. Commerce Bank launched CashFlow Complete in July 2017 to provide an affordable commercial payment product that best matches the intuitive design and operation of consumer applications, with the robust features, security and control businesses need.

“At Commerce Bank, we are personally invested in supporting small business leaders who trust us for their future and their livelihoods, ”said Matt White, Director of Business and Small Business Strategy, Marketing and Corporate Affairs. delivery of sales, Commerce Bank. “We introduced CashFlow Complete to simplify cash management and payments so entrepreneurs and small business owners can devote more time and energy to the aspects of running a business that they really love. To be honored for having pursued this mission is a lesson in humility and we are grateful for it. ”

In its first year, the rewards program recognized innovative financial institutions that introduce new products, capabilities or levels of automation and efficiency that bring the banking industry closer to the next generation.

“With its CashFlow Complete solution, Commerce Bank demonstrates the important role the customer experience plays in providing customers with innovative products that ensure transparency in their cash flow and help them save time that can be spent on what’s most important. more important to them, ”said Christine Barry, Director of Research. , Aite Group

The winners and finalists in six unique categories were selected based on the following criteria, which were taken into account when scoring each application:

  • Level of innovation and competitive advantage

  • Market need

  • Impact on customer experience

  • Impact on customers’ operational efficiency

  • Level of new income opportunity

  • Impact on customer loyalty / attracting new customers

  • Level of scalability across the customer base

  • Future roadmap

The winners were selected by a nine-person jury made up of three analysts from the Aite group and six external judges.

To learn more about Commerce Bank’s small business services and CashFlow Complete, please visit https://www.commercebank.com/business/payables-and-receivables/cashflow-complete.

About the Banque du Commerce

With $ 25.5 billion in assets1, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a registered banking holding company providing a full range of banking services, including payment solutions, investment management and securities brokerage. Commerce Bank, a subsidiary of Commerce Bancshares, Inc., draws on over 150 years of proven strength and experience to help individuals and businesses solve their financial problems. In addition to offering payment solutions across the United States, the Company currently operates banking facilities in nine key markets including St. Louis, Kansas City, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City and Denver. Commerce Bank also has commercial offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis and Grand Rapids. Commerce offers high quality service and sophisticated financial solutions in regional branches, trade offices, ATMs, online, mobile and through a 24/7 customer service line. Learn more about www.commercebank.com.

1. As of December 31, 2018

About Bill.com

Bill.com is the leading business digital payments company with a network of 3 million members, processing over $ 60 billion in payments annually. Simplifying connection and doing business, Bill.com’s cloud-based payment management platform automates, streamlines and controls the payment process, saving over 50% of the time typically spent. Bill.com partners with America’s largest financial institutions, over 60 of the top 100 accounting firms, leading accounting software vendors including Netsuite, Intacct, QuickBooks, and Xero, and is the preferred provider of payment solutions digital for CPA.com, the technology arm of the American Institute of CPAs (AICPA). Bill.com is the winner of over 70 awards and recognized as one of the San Francisco Business Times and Silicon Valley Business Journal’s “2018 Best Places to Work”.


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