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generated Nacha file directly with Synovus ACH payment processing. Once this option is set <br />up, the process is ‘hands-free’ for our customer. <br />Accelerate Pay <br />Simplify all B2B payments and mitigate fraud risk with an intelligent payment solution embedded <br />into your organizational workflow. <br />Synovus Accelerate Pay is a first of its kind payments suite, offering innovative payment <br />functionality beyond traditional integrated payments platforms. This solution provides straight <br />through processing, easy reconcilement, and positive pay fraud mitigation. <br />Accelerate Pay eliminates the burden, time, and risk inherent with managing multiple payment <br />streams, while maximizing control, payment accuracy, and automating payment reconciliation. <br />Organizational Benefits <br />Seamless ERP integration with leading applications <br />Streamlines payment processing and exception management <br />Provides visibility and insights into payments data <br />Saves time, freeing staff for higher ROI endeavors <br />When combined with Synovus Accelerate AR, Accelerate Card, and Accelerate FX solutions, <br />Accelerate Pay delivers comprehensive, streamlined cash management insight <br />Enhances the Payee Experience <br />Fully supports payee controls and self-servicing through a convenient payee portal, including: <br />Payee Network registration – manage payments from other payers through a single portal <br />Payee choice of preferred payment method <br />Timely payment status reporting <br />Ability to request payment earlier than settlement date <br />Maintenance of their own banking information to ensure accurate and timely payments <br />N.BankingSupplies <br />The bank will provide all necessary banking supplies, including but not limited to, tamper- proof <br />disposal style deposit bags, deposit slips (two-part carbonless), deposit stamps, coin wrappersand <br />envelopesatnochargetotheCity.Ifthebankisunabletoprovidetheseitems free of charge, a list of <br />any fees assessed for these items must be included in the proposal. TheCityreservestherighttoobtain <br />suppliesfrom a vendorotherthanthedepositorybankif supplies are not provided as needed in a timely <br />manner. <br />Synovus will provide an annual supply credit of $1,000which will include tamper evident disposable <br />night depository bags, deposit tickets, endorsement stamps, coins, and currency wrappers for the <br />term of the contract. This estimate is based upon information provided during discussions associated <br />with the RFP. <br />O.Bank Collateralization of CityFunds <br />Deposits are to be collateralized as required by Chapter 280, Florida State Statutes. Each proposing <br />bank shall provide their specific collateralization guidelines, if they vary from the statutory <br />July 12, 2024Page 33 <br />City of Sunny Isles Beach RFP 24-06-01 <br />Banking Services - Synovus Bank Submission <br /> <br />