CheckAlt
CheckAlt is an integrated receivables and payment processing provider serving banks, credit unions, and fintechs via lockbox, online payments, loan payments, and remote deposit capture on a cloud-enabled AWS platform.
- Company typePrivate
- Founded2004
- HeadquartersValley Cottage, United States
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What CheckAlt does
CheckAlt, LLC is a privately held payment processing and integrated receivables solutions provider founded in 2004 and headquartered in Valley Cottage, New York, with a secondary office at 140 Broadway. The company serves financial institutions (banks and credit unions) and fintechs as primary customers, with secondary reach into businesses in property management, healthcare, and municipal sectors. Named customers include Frontsteps (property management), WISCUB Service Center (credit union service organization), Dime (banking), Royal Business Bank (banking), and PECU (credit union).
The company operates a cloud-enabled Integrated Receivables platform hosted on AWS, spanning full-service and SaaS lockbox check processing, electronic and remote lockbox, online payments (ACH, eCheck, credit, debit), online loan payments via LoanPay, remote deposit capture through FinCapture, ATM and branch deposit capture, item processing, and an AI-powered assistant branded Genie. Sub-brands including FinCapture, LoanPay, Clearingworks, CaptureNet, Genie, and Klik indicate a multi-product portfolio built and expanded through acquisitions (ERAS in 2014, Klik Technologies in 2016, US Dataworks in 2020).
The business model combines per-transaction processing fees (for check, lockbox, and payment processing) with SaaS-style subscriptions for software products, distributed via direct sales, credit union service organizations (e.g., WISCUB Service Center partnership, March 2026), core banking system integrations, and bank marketplaces (U.S. Bank Connected Partnership Network, June 2026). Distribution is differentiated by deep core-banking interoperability (with 80% of U.S. FIs citing core integration as their top receivables technology criterion), positioning CheckAlt as a niche, integration-led incumbent in the U.S. lockbox and integrated receivables market.
CheckAlt firmographics
Firmographics- Name
- CheckAlt
- Legal name
- CheckAlt, LLC
- Website
- https://checkalt.com
- Company type
- Private
- Founded year
- 2004
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- CheckAlt is an integrated receivables and payment processing provider serving banks, credit unions, and fintechs via lockbox, online payments, loan payments, and remote deposit capture on a cloud-enabled AWS platform.
- Ownership category
- akta.pro rank
CheckAlt industry classification
Industry- Product category
- Integrated Receivables and Payment Processing
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Commercial Banking (52211)
- SIC
- Blank Checks (6770), Finance Services (6199), Functions Related To Depository Banking, Nec (6099)
- akta.pro primary industry
- Lockbox, Check Scanning & Paper Bill Processing (FSAMAJAK)
- akta.pro secondary industry
- Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)
Keywords
Where CheckAlt is headquartered
LocationHeadquarters
- HQ city
- Valley Cottage
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
CheckAlt business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales
Revenue model
- Integrated Receivables Processing: CheckAlt generates revenue through integrated receivables processing services including lockbox, electronic lockbox, remote lockbox, online payments, and various capture solutions. Revenue is derived from transaction-based processing fees combined with platform/subscription components for access to the integrated receivables dashboard and management tools.
- SaaS Platform Access: The company offers its solutions as both full-service and SaaS models, providing flexible deployment options. Revenue includes recurring platform fees for cloud-enabled access to payment processing, reconciliation, and reporting capabilities.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Quote-based pricing tailored to institution size and transaction volume |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
CheckAlt product offering
Product offeringCore offering
CheckAlt provides an integrated receivables and payment processing platform that unifies checks, ACH, eCheck, credit, and debit card payments through a single cloud-enabled AWS dashboard for financial institutions and businesses. The company sells Lockbox Check Processing, Electronic Lockbox, Remote Lockbox, Online Payments, Online Loan Payments (LoanPay), FinCapture Remote Deposit Capture, ATM Deposit Capture, Branch Capture, and Item Processing solutions, offered as both full-service and SaaS deployments. It also exposes APIs through a Developer Portal for third-party and fintech integrations.
Product overview
CheckAlt offers an integrated receivables management platform with a comprehensive portfolio of payment processing solutions. The core Integrated Receivables platform on AWS cloud consolidates multiple payment types including checks, ACH, credit, and debit through a single dashboard. The product suite includes Lockbox Check Processing (available as full-service or SaaS), Electronic Lockbox, Remote Lockbox, Online Payments, LoanPay for loan payment processing, FinCapture Remote Deposit Capture, ATM Deposit Capture, and Branch Capture. All solutions share a unified platform approach with integrated data, reporting, and reconciliation capabilities designed for financial institutions, fintechs, and businesses.
Differentiator
Problem solved
Functional benefit
Brands
- FinCapture: Remote Deposit Capture solution for depositing checks via mobile device or office, with API integration for real-time processing.
- LoanPay
- Clearingworks
- CaptureNet
- Genie
- Klik
Products and services
- Integrated Receivables Cloud-enabled platform on AWS that manages all payment types including checks, online payments, ACH, credit, and debit from a single dashboard. Provides automated processes, lower costs, and complete control over receivables for financial institutions, fintechs, and businesses.
- Lockbox Check Processing Secure, automated payment solution for processing paper checks that accelerates cash flow and simplifies receivables management. Available as a full-service or SaaS solution for flexible deployment by financial institutions and businesses.
- Electronic Lockbox Connects businesses to the biller network to keep online banking bill payments flowing electronically, preventing these payments from dropping to paper checks, reducing delays, and optimizing cash flow.
- Remote Lockbox Electronic payment processing solution that provides real-time exceptions, flexible setup, and maintenance capabilities for organizations that need to process lockbox payments remotely with streamlined workflows.
- Online Payments 24/7 payment processing via ACH, eCheck, credit, and debit cards with simplified payment management, boosted cash flow, and secure payment options accessible from any device for businesses and their customers.
- Online Loan Payments (LoanPay) Streamlined online loan payment processing solution that modernizes loan payment workflows and reduces manual processes for indirect borrowers, serving credit unions and other financial institutions.
- FinCapture Remote Deposit Capture Mobile and office check deposit solution allowing deposits in the office, in the field, or on the go from a mobile device. Seamlessly integrates into existing business apps via API for real-time processing with robust security.
- ATM Deposit Capture Automated teller machine deposit processing solution enabling 24/7 access for check and cash deposits with scanning and account posting capabilities for financial institutions.
- Branch Capture Teller capture solution for branch and in-office check deposits that digitizes check workflows, enables real-time posting and reconciliation, and provides greater insight into payment activity.
- Item Processing Comprehensive item processing management with dashboards, customer service tools, and secure platform capabilities for processing and managing payment items through the CaptureNet portal.
Quantifiable outcome
- 75% of U.S. financial institutions actively evaluating receivables technology in next 18 months
- +2 more outcomes
Companies that use CheckAlt
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles3 records
CheckAlt technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability6 records
Feature11 records
CheckAlt partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and supporting.
- U.S. BankcoreCheckAlt joined U.S. Bank's Connected Partnership Network, an online marketplace of fintech and third-party payment solutions integrated with U.S. Bank systems. Through this integration, U.S. Bank clients can access CheckAlt's receivables capabilities including lockbox services, electronic lockbox, remote lockbox, and online payment processing. The partnership aims to help organizations centralize inbound payments, automate reconciliation workflows, reduce manual processing, and improve operational visibility without disrupting existing platforms.
- PECUsupportingPECU (Premier Edge Credit Union), a Texas-based credit union serving over 20,000 members with approximately $435 million in assets, selected CheckAlt's LoanPay solution to modernize loan payment workflows and reduce manual processes for indirect borrowers.
- WISCUB Service CentercoreWISCUB Service Center, a Wisconsin-based service organization supporting credit unions throughout the state, partnered with CheckAlt to offer Electronic Lockbox and Branch & Teller Capture solutions to its network of credit unions. The solutions help reduce manual processing, improve operational visibility, digitize check workflows, prevent paper conversion in online banking bill pay, and provide greater insight into payment activity for credit unions operating with leaner teams.
- William Mills AgencysupportingCheckAlt partnered with William Mills Agency, a fintech PR firm, to improve its public relations strategy amidst industry efforts to modernize receivables and reduce payment complexity. The partnership aims to amplify CheckAlt's visibility and highlight its solutions in the financial services sector.
- FrontstepssupportingCheckAlt's lockbox capabilities are integrated within the FRONTSTEPS platform, strengthening how their clients manage payments at scale. This partnership streamlines back-office workflows and elevates the payment experience for both management teams and the communities they serve.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
CheckAlt competitors and assessment
Company assessmentDirect peers
- AvidXchange: AvidXchange provides AP and payment automation for mid-market businesses and FIs, directly overlapping with CheckAlt's receivables and payment processing suite. Both target banks and credit unions seeking to digitize B2B payment workflows.
- Bill.com: Bill.com is a leading AP/AR automation platform serving SMBs, accounting firms, and financial institutions. Its AR and online payments capabilities overlap with CheckAlt's integrated receivables offering for business and FI customers.
- Paymerang: Paymerang provides automated AP and electronic payment solutions to businesses, credit unions, and banks. Its receivables optimization and electronic payment focus closely mirror CheckAlt's electronic lockbox and online payments suite.
- Stampli: Stampli offers AP automation and B2B payments, including integrations into core banking systems. Compares to CheckAlt on payment-driven receivables workflows and core integration emphasis for mid-market financial institutions.
- Modern Treasury: Modern Treasury is a payment operations platform that helps businesses and fintechs move money via ACH, RTP, and wire. Compares to CheckAlt on the API-driven, cloud-native payment processing layer for businesses and fintech partners.
- Tipalti: Tipalti provides AP automation and global payment infrastructure for businesses, overlapping with CheckAlt's online payments and integrated receivables capabilities for business customers of FIs.
Broad incumbents
- ACI Worldwide: ACI Worldwide is a long-established payments software vendor serving banks, billers, and processors with real-time and bulk payment platforms. Broadly comparable as an incumbent in the same payments/receivables space as CheckAlt, with much larger scale and global footprint.
- Finastra: Finastra provides core banking and payments software to thousands of financial institutions globally. Compares to CheckAlt as a broad incumbent whose installed base creates competitive pressure on standalone receivables specialists.
- FIS: FIS is a major banking technology provider with lockbox, treasury, and integrated receivables offerings. Directly comparable to CheckAlt's traditional lockbox and payment processing business from an incumbent perspective.
- Fiserv: Fiserv offers banking, merchant, and integrated receivables solutions to banks and credit unions, including lockbox-adjacent cash management products. Comparable as a broad incumbent competing with CheckAlt in the FI receivables space.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
CheckAlt social profiles
Digital presenceCheckAlt compliance and trust
Trust signalCompliance2 records
CheckAlt financial estimates
Financial estimateRevenue estimate
Valuation estimate
CheckAlt leadership team
Management profileNumber of profiles
Profiles14 records
CheckAlt funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CheckAlt M&A and investment
M&A and investmentM&A3 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CheckAlt
What does CheckAlt do?
CheckAlt provides an integrated receivables and payment processing platform that unifies checks, ACH, eCheck, credit, and debit card payments through a single cloud-enabled AWS dashboard for financial institutions and businesses. The company sells Lockbox Check Processing, Electronic Lockbox, Remote Lockbox, Online Payments, Online Loan Payments (LoanPay), FinCapture Remote Deposit Capture, ATM Deposit Capture, Branch Capture, and Item Processing solutions, offered as both full-service and SaaS deployments. It also exposes APIs through a Developer Portal for third-party and fintech integrations.
Is CheckAlt a public or private company?
CheckAlt is a private company. It is classified as unknown and is currently operating.
When was CheckAlt founded?
CheckAlt was founded in 2004. It employs 101 to 250 people.
Where is CheckAlt based?
CheckAlt is headquartered in Valley Cottage, United States, in the North America region.
How does CheckAlt make money?
Two revenue lines are on record. Integrated Receivables Processing is the primary driver. The others are saaS Platform Access.
Who are CheckAlt's main competitors?
Direct peers on record are AvidXchange, Bill.com, Paymerang, Stampli, Modern Treasury and Tipalti. Broad incumbents are ACI Worldwide, Finastra, FIS and Fiserv.
Does CheckAlt have an API?
Yes. CheckAlt offers APIs enabling fintechs and third parties to embed and integrate its payment solutions. The Developer Portal at developer.checkalt.com provides developer access. Remote Deposit Capture (RDC) API enables real-time check processing integration into existing business applications. Developer documentation is at developer.checkalt.com.
What industry is CheckAlt in?
CheckAlt's product category is Integrated Receivables and Payment Processing. Its primary akta.pro industry code is FSAMAJAK, Lockbox, Check Scanning & Paper Bill Processing, with a secondary code of FSAMACAA, Merchant Payment Gateways (API/Hosted Checkout). Its NAICS code is 52232 and its SIC code is 6770.