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A sweepingly ambitious, nearly year-long effort to speed up end-to-end electronic processing of checks has been shut down by its organizers, the victim of multiple operational complications that proved in the end too hard to overcome.
(DigitalTransactions.net, 01/30/2007)
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When Atlanta's Piedmont Bank made the jump into image deposit capture more than a year ago, the small business bank expected to nab some additional activity from remote clients.
(Bank Technology News, 01/29/2007)
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Back in December, A Patent examiner rejected all the claims relating to one of DataTreasury's key patents. Many would argue this opinion could lead to eventual invalidation of DataTreasury's patents.
(RemoteDepositCapture.com, 01/29/2007)
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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 Corporation, NetDeposit Press Releases, 01/24/2007)
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DataTreasury Corporation, a Texas-based check-processing company, has signed a worldwide licensing agreement with Diebold, Incorporated, allowing the ATM manufacturer to use four of the company's financial transaction patents.
(Diebold, Incorporated, 01/23/2007)
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I think it’s fair to say that despite the prognostications of several people (me included), Check 21 implementation was very deliberate (read “slow” here) in 2005 and 2006. As we look at the 2007 project lists at banks, almost every one has a focus on check conversion technology.
(GonzoBanker.com, 01/18/2007)
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U.S. Bank has launched an image cash letter service for financial institutions nationwide through its correspondent banking group, allowing financial institutions to transmit image cash letters to U.S. Bank for processing.
(U.S. Bank, 01/17/2007)
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First Data Corp., Microsoft Corp. and HP today announced they have brought together their industry-leading payment solutions, state-of-the-art store management software programs and retail-ready computer hardware in a small business point of sale solution with features that until recently were only available to large retailers.
(First Data Corp., 01/15/2007)
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U.S. Bank is prepared to meet the needs of retailers and other customers who wish to take advantage of check electronification opportunities for point-of-sale (POS) payments when NACHA's check conversion rules change for Back Office Conversion (BOC) on March 16, 2007.
(U.S. Bank, 01/12/2007)
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According to new research charting the adoption of Check 21 (The Check Clearing for the 21st Century Act), 2007 will be another significant year in the ongoing "electronification" of paper checks.
(TowerGroup , 01/10/2007)
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CONIX Systems Inc., a leading international provider of payment processing solutions to the financial services industry, was selected by Winston-Salem, N.C.-based BB&T Corporation to provide its Dupe Detective solution, a system designed to protect both financial institutions and customer accounts from double postings of payments.
(CONIX Systems, 01/09/2007)
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The National Clearing House’s (NCHA) reported year-end image exchange volumes totaling more than 670.1 million items valued at $626 billion. The organization’s leap in image exchange volumes continued throughout December with a 15 percent increase in item volumes over November 2006.
(National Clearing House, 01/08/2007)
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SVPCO-Electronic Clearing Services, the electronic check and check image exchange business of The Clearing House Payments Company L.L.C., today reported that the number of check images exchanged in 2006 soared 15-fold compared to 2005, while the dollar value jumped 5-fold year-over-year.
(The Clearing House, 01/08/2007)
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As mentioned in our earlier post, there is relatively little advertising activity on the search engines for remote deposit capture services.
(NetBanker, 01/05/2007)
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Remote deposit capture is one of the most significant new technologies to hit online business banking since, well, online banking. According to Celent, 60 of the largest 100 banks, including 20 of the top 25, now offer it. In addition, hundreds of smaller community banks now offer it.
(NetBanker, 01/05/2007)
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CheckFree Corp.’s agreement to buy Dallas-based banking-software vendor Carreker Corp., announced Tuesday, will help extend the bill-payment processor’s reach into the business of electronic check image exchange, including the fast-growing remote capture market.
(DigitalTransactions.net, 01/02/2007)
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The formerly somnolent point-of-purchase (POP) electronic-check code continued on its newfound burst of energy in the third quarter, according to the latest automated clearing house volume report from NACHA—The Electronic Payments Association.
(DigitalTransactions.net, 12/27/2006)
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Endpoint Exchange LLC, a Metavante company, today announced that 12 of the country’s top 25 banks (by asset size) have joined the company’s growing national check image exchange network in 2006.
(Metavante, 12/27/2006)
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Eastman Kodak Company announced today a new check processing solution and strategic relationship with CFC Technology Corporation of Minneapolis, Minn., a leading provider of Check 21 services and solutions. The new, hosted platform managed by CFC Technology will utilize Kodak’s portfolio of Internet-based Check Imaging Solutions.
(Eastman Kodak Company, 12/20/2006)
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Checks cleared by paying banks as electronic images outnumbered substitute checks for the first time in the short history of image exchange in October, according to numbers compiled by the Electronic Check Clearing House Organization, Dallas.
(DigitalTransactions.net, 12/20/2006)
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Mitek Systems, Inc. today announced that the company has been allowed its first patent for the invention of a 'System and Method for Check Fraud Detection Using Signature Validation', further reinforcing the company's innovative leadership in image-based forgery detection.
(Mitek Systems, Inc., 12/14/2006)
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Union Bank of California is launching a new and enhanced suite of cash management products to expand its coverage nationwide. The new product line, featuring new remote deposit capabilities and enhanced wholesale lockbox and cash vault networks, strengthens the bank's national presence and processing capabilities.
(Union Bank of California, 12/11/2006)
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RemoteDepositCapture.com, the industry’s leading authority on Remote Deposit Capture, will host an online webinar (webcast) roundtable featuring three of the industry’s leading solution providers on Wednesday, December 13th 2006.
(RemoteDepositCapture.com, 12/07/2006)
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SVPCO-Electronic Clearing Services, the electronic check and check image exchange business of The Clearing House Payments Company L.L.C., today reported that 105 million check images were exchanged in November, exceeding projected volume of 100 million check images a month by the end of 2006.
(The Clearing House, 12/07/2006)
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A small technology company that has made a name for itself with its aggressive and successful litigation defending a pair of patents covering check imaging was dealt a setback late last week when the United States Patent and Trademark Office rejected all of the claims set out in those patents.
(DigitalTransactions.net, 12/05/2006)
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We've heard from many people in the RDC Industry about the DataTreasury Patents and related lawsuits, and in general, the reaction to this recent USPTO Examiner opinion has been, well, overly-euphoric.
(RemoteDepositCapture.com, 12/05/2006)
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eGistics, Inc. and SortLogic SYSTEMS, today announced Virtual Exchange, a highly secure, system-agnostic platform that combines best-of-breed on-demand image and data management services with component-based connectivity software to deliver a very scalable architecture for next-generation, electronic payments automation.
(eGistics, Inc., 12/01/2006)
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WAUSAU today announced that it has joined forces with Advanced Software Design Corporation (ASD), a leader in innovative fraud prevention solutions, to offer financial institutions an integrated, state-of-the-art Positive Pay solution, providing their corporate customers with image-survivable security features for an electronic image environment.
(WAUSAU, 11/30/2006)
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"Remote Deposit," a new system to enable financial institutions and their commercial customers to reduce the time and cost of depositing and processing checks, was announced today by two of the state's leading business associations.
(Michigan Retailers Association, 11/30/2006)
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Software maker Intuit Inc.’s pending acquisition of online-banking services provider Digital Insight Corp. is mostly a story about Intuit expanding its services and finding new markets for its popular QuickBooks, TurboTax, and Quicken financial-software programs.
(DigitalTransactions.net, 11/30/2006)
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NOVA Information Systems (NOVA), a wholly owned subsidiary of U.S. Bancorp (NYSE:USB - News), today announced that it has enhanced its Electronic Check Service (ECS) product to meet the needs of multi-lane retailers by eliminating the investment in check imaging technology at the point of sale (POS).
(NOVA Information Systems, 11/28/2006)
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RDM Corporation, a leading provider of specialized software and hardware products for electronic payment processing, announced today that it has reached a significant milestone by consistently processing over 1 million checks weekly from corporate customers in the United States through its industry leading Image & Transaction Management System.
(RDM Corporation, 11/28/2006)
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In the past, an employee of Standard Insurance in Hurst gathered up the 100 or so checks that customers sent in every day and headed off for lunch, plus an extra stop at the bank to deposit those checks.
(Star-Telegram, 11/27/2006)
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A new electronic check-conversion application set to go live in March at retail and other check-accepting businesses could become one of the fastest-growing products ever introduced for the automated clearing house (ACH) network, generating 425 million transactions in 2007, predicts a new study from Boston-based market researcher Celent LLC.
(DigitalTransactions.net, 11/26/2006)
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JPMorgan Chase, a full-service provider of cash management, trade finance, and treasury solutions, today announced the opening of three new International Image Deposit Centers in Singapore, Hong Kong and Mumbai.
(JPMorgan Chase & Co., 11/21/2006)
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Imaging technology is giving New England's smaller community banks a fighting chance in their bid to attract more commercial deposits while competing with the region's bigger brethren.
(BizJournals.com, 11/20/2006)
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Systems & Methods, Inc., (SMI), a premier technological solution provider to government human service agencies, has initiated Check 21 child support payment processing in their District of Columbia Child Support Clearinghouse.
(Systems & Methods, Inc., 11/17/2006)
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At this week’s BAI Retail Delivery Conference & Expo, NCR Corporation (NYSE: NCR) reported that it leads the market globally with deployments of “No-Envelope” Deposit technology for the automated teller machine (ATM) channel.
(NCR, 11/17/2006)
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RDM Corporation, a leading provider of specialized software and hardware products for electronic payment processing, today reported its financial results for the three and twelve-month periods ended September 30, 2006.
(RDM Corporation, 11/17/2006)
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With the increase of checks being truncated or converted to electronic transactions, financial institutions are faced with increased demand from their corporate customers on information on risk, costs, and processing efficiencies for all payment methods, particularly checks and ACH.
(Alogent Corporation, 08/31/2006)
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In this brave new world of Remote Deposit Capture, the entire process and results depends upon what happens at the point of capture, and Image is everything.
(RemoteDepositCapture.com, 06/26/2006)
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Despite the popularity of Remote Deposit Capture, the race to bring new and existing customers on-line has seen challenges for deployment, fulfillment, service and support.
(RemoteDepositCapture.com, 06/20/2006)
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With a hit list of more than 70 names casting a BlackBerry-shaped shadow over the industry, DataTreasury still plays the underdog in its legal battles with the big boys.
(RemoteDepositCapture.com, 04/14/2006)
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On February 24th 2006, DataTreasury, a small firm claiming it has a patent which covers image-based check clearing (and therefore Remote Deposit Capture), filed suit against over 50 banks, service and technology providers.
(RemoteDepositCapture.com, 03/06/2006)
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As the Remote Deposit Capture industry grows and matures, as with almost any industry, there will be companies who can provide substantial additional value to the core industry.
(RemoteDepositCapture.com, 02/21/2006)
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Strengthening its category leadership in the financial services marketplace, eGistics, Inc. today announced outstanding revenue, customer and volume growth in 2005 for its on-demand image and data archive, management and delivery services.
(eGistics, Inc., 02/21/2006)
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With its settlement today with NCR Corp., DataTreasury Corp. will be able to tap technology that will allow it to move beyond check processing and into technology supporting automated clearing house and card transactions, the company’s lead counsel says.
(DigitalTransactions.net, 01/23/2006)
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Not long after President George W. Bush signed the Check Clearing for the 21st Century Act – commonly called Check 21 – many voices around the banking industry raised a familiar and loud refrain: Beware of thieves who seek to exploit weaknesses of Check 21 and perpetrate fraud on the banking industry.
(GTNews, 11/08/2005)
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DataTreasury Corp. has scored another victory in its ongoing litigation against major banks, networks, and vendors over alleged infringement of DataTreasury patents covering processes involved in check-image exchange, and now says it is preparing to fight cases it has filed against nine other outstanding defendants.
(DigitalTransactions.net, 11/07/2005)
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If you haven’t heard of it yet, you will soon. Remote Deposit Capture has been called “The most important development the (U.S.) banking industry has seen in years” by the Federal Reserve and others
(GT News, 10/19/2005)