City of Fishers, Indiana, Adopts MFSC Accelerated Municipal Payment (AMP™) Program to Expand Local Vendor Participation and Provide Greater Financial Transparency

WOODBRIDGE, N.J., December 21, 2022 (Newswire.com) - Municipal Finance & Services Corporation (MFSC™) is pleased to announce that the City of Fishers, IN, adopted a Resolution approving the MFSC™ Expedited Payment Program. This allows the City's vendors to voluntarily participate in MFSC's AMP (Accelerated Municipal Payment) program, providing vendor payments within 72 hours of invoice approval.

AMP™ is a non-factoring accounts payable program that is provided at no cost to the jurisdiction. Participating vendors get paid faster while the municipality is extended an additional 60 days from MFSC's payment date to the vendor. No funds are advanced by the municipality.

MFSC provides a full document management system that digitizes the entire A/P transaction. MFSC also assists the local community, expanding participation from local vendors, including the "underserved" and emerging businesses.

MFSC™ looks forward to working with the City of Fishers, fulfilling its motto, "Reinvesting in America…One Community at a Time", and supporting Mayor Scott Fadness' initiatives of strengthening city services and providing a transparent and sustainable government.

For more information on the MFSC AMP™ Program, please contact Bray Barnes, COO, Municipal Finance & Services Corp. [email protected]

Municipal Finance & Services Corp.

Municipal Finance & Services Corp. is a municipal fintech non-factoring cloud-based accounts payable processing platform specifically designed to service the unique needs of the local government sector. Every year over 22.6K municipalities spending in excess of $1.69T in core consumable expenditures pay their vendors on average in +75 days. These long pay cycles create enormous challenges for these vendors, which ultimately negatively impact the local economy, the local government, and especially Minority Owned, Women Owned, Veteran / Disabled Veteran Owned, and the Emerging / Underserved Business sector who may not have the financial strength or experience contract with local communities. Solving this challenge represents a $50B total available market for Municipal Finance & Services Corp.'s (MFSC) AMP™ (Accelerated Municipal Payments) Platform. We are committed to building a platform that enables local governments to build strong, diverse, and inclusive communities by empowering local Minority Owned, Women Owned, Veteran / Disabled Veteran Owned, Emerging / Underserved Businesses to participate in our local government vendor/supplier programs.

Source: Municipal Finance & Services Corp.