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Wednesday, January 24, 2007
(National City Corporation, NetDeposit Press Releases)
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National City Global Treasury Management today announced it has launched Corporate Remote Capture, an e-commerce solution with robust capabilities that provides the bank's business clients with a convenient, electronic way to manage check collections at their location and eliminate branch visits to make deposits. National City implemented the new service for corporate treasury management clients in November after launching a small business version earlier in 2006.
Leveraging its experience as the most widely deployed remote check capture solution, NetDeposit is providing National City with the tools to lead its competition in reshaping the way banks in its region compete for cash management accounts. NetDeposit provides National City with a complete solution set for electronic check payment processing, including all client and back-end software, as well as scanner purchase and fulfillment for end-users. With NetDeposit's inherent software and hardware interoperability, National City will be able to quickly bring the point of check presentment for its RDC clients to their location, eliminating their need to make trips to a branch.
"We selected NetDeposit based on their leadership and experience within the market. They have a proven product and a track record of success for enabling all aspects of check capture," said Mary Ann Francis, senior vice president of Payment Solutions with National City's Global Treasury Solutions. "At National City we are committed to always delivering the products and services that meet our customers' needs. This new relationship with NetDeposit enables us to further that tradition."
"The economies of check processing are changing in dramatic ways," said Danne Buchanan, CEO of NetDeposit. "The country's premier financial institutions are taking advantage of the competitive advantage and business growth opportunities that our solutions have proven to bring. National City has a reputation for excellence in all they do and we are honored to add them to our list of customers."
One of the unique capabilities of National City's Corporate Remote Capture is the ability to accept image cash letter files from other check imaging systems, enabling the bank to process tens of thousands of deposited items each day from higher-volume clients. This capability coupled with National City's exclusive use of electronic clearing channels for remotely-captured checks gives many corporate clients improved availability of funds and faster notification of return items. National City is fully end-to-end image enabled and does not print image replacement documents.
By electronically transmitting deposits to National City, companies are targeting quicker access to funds and cost savings by reducing the amount of time and resources spent on processing and depositing payments. The National City solution provides clients with advanced capture and transmission software and user-defined data entry fields to ensure dollars and data remain together and web-based reporting and administrative tools; all features combine to streamline the integration of the deposit into the client's systems.