What is the difference between a lockbox system and concentration banking?

Multiple Choice

In concentration banking, both physical collection and processing take place close to the customer but in a lockbox system, neither the collections nor processing take place close to the customer.

In a lockbox system, customers' payments are physically collected close to them and much of the processing takes place close to the bank, but in concentration banking both physical collection and processing take place close to the bank.

Concentration banking involves using several banks to fund a large loan and lockbox systems deal with the ability to speed up collections.

None of the options.