SaaS-based payment-processing firm Exactuals has officially confirmed the integration of its PaymentHub and Datafaction’s AgilLink – a move that higher-ups say will streamline “the payment flow and back office operations of business managers and other firms that service end talent.”
10-year-old Exactuals unveiled its integration with cloud-based accounting and bill-paying platform AgilLink today, in a formal release that was shared with Digital Music News. According to this announcement message from the subsidiary of City National Bank – itself a division of the Royal Bank of Canada, with over $87 billion in assets under management – the initiative has created a “first-of-its-kind straight-through processing of royalty and residual payments.”
The integration specifically “enables electronic statements from the payee’s union to automatically appear and be associated with the direct deposit in AgilLink” within 24 hours, and this “digitized process is more secure than the mailing of paper checks,” per the release. Moving forward, those who use Exactuals’ initially mentioned PaymentHub global-payment platform (while having “set up direct deposit from their union to any domestic bank account”) will be able to “access all their payment information online.”
Regarding some of the PaymentHub-AgilLink integration’s possible advantages for those in the entertainment industry, the involved professionals noted that “business managers no longer need to log into each client’s union account to download PDF statements, then re-upload and attach them to their client’s AgilLink transaction.” Consequently, Exactuals relayed that “manual errors” will be eliminated, with business managers also reconciling “their clients’ accounts quicker and more efficiently than their current workflow.”
Addressing the development in a statement, Exactuals president and COO Bryan Walley said: “Linking PaymentHub and AgilLink is a significant step forward. By integrating these two best in class platforms, I cannot stress enough the significant amount of time this will save firms that manage end talent. By coming together, we create greater access and accuracy than ever before in only a fraction of the time.”
CNB’s EVP of entertainment banking, Martha Henderson, added in part: “At City National, we are committed to serving the entertainment industry in new and compelling ways. Connecting PaymentHub and AgilLink is the latest example of this commitment and allows us to offer our clients a secure, one-click solution they can’t get anywhere else.”
Towards 2020’s start, Exactuals acquired music-industry data (and royalty-calculation) company Backlash Solutions, in addition to opening an office in New York City and, as of October, helping SAG-AFTRA to make over one million direct-deposit payments to members. 2021, for its part, has seen Exactuals celebrate processing north of $1 billion in payments through PaymentHub and name Bryan Walley president and COO.