About NetDeposit
Press Releases
Deutsche Bank Selects NetDeposit for Remote Deposit Capture
A Leading Global Cash Management Bank Transforms its US Check Processing
Salt Lake City, Utah — October 16, 2006— NetDeposit, Inc. (www.netdeposit.com), an innovator in Check 21 software and a top provider of remote deposit capture (RDC) solutions for the financial industry, announced that Deutsche Bank, a frontrunner in global cash management, has chosen NetDeposit to enable RDC of U.S. dollar checks. Deutsche Bank plans to offer NetDeposit’s RDC services to its customers this year.
Depositing funds drawn on US banks has traditionally been a challenging task for international banks. The process requires time and cost to transport a check from the bank it is deposited at to the clearing agent. NetDeposit offers the first solution on the market that enables institutions such as Deutsche Bank to bypass the time and cost barriers to clearing these funds.
“As a major global cash management provider and a market leader in wholesale cash letter services, Deutsche Bank is committed to adopting the latest in world-class technology,“ said George Stein, Head of Check Services, Global Transaction Banking – Cash Management, Deutsche Bank. “After evaluating many options, we selected NetDeposit’s solution for its proven ability to enable RDC for large banking institutions.”
NetDeposit’s solution gives banks the advantage of serving customers better with the convenience of remote deposit. RDC services can eliminate geography and the high costs required to physically transport checks for clearing.
“In the world of modern payments, the market is expecting solutions that improve the process,” said Danne Buchanan, CEO of NetDeposit. “Deutsche Bank’s move to offer NetDeposit’s RDC services demonstrates that it is an institution that is committed to leading the payments industry.”
Deutsche Bank joins a group of elite financial institutions that are currently partnering with NetDeposit to pioneer the reengineering of their payments platforms.
About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and
profitable private clients franchise. A leader in Germany and Europe, the
bank is continuously growing in North America, Asia and key emerging
markets. With Euro 1,058 billion in assets and 65,435 employees, Deutsche
Bank offers unparalleled financial services in 73 countries throughout
the world. The bank competes to be the leading global provider of
financial solutions for demanding clients creating exceptional value for its
shareholders and people.
www.db.com
About NetDeposit, Inc.
NetDeposit, Inc. is leading a revolution in the way check payments are processed. More money changes hands through checks than any other form of payment and NetDeposit is changing how financial institutions compete for customers. NetDeposit solutions enable financial institutions to evolve their operations by replacing manual check handling with distributed capture and electronic image processing. Since its founding in 1999, NetDeposit has led the market in the number of remote capture locations and processed millions of checks for top international banks and regional U.S. financial institutions. NetDeposit is a subsidiary of Zions Bancorporation (NASDAQ:ZION). For information call (801) 273-6067, email pressrelations@netdeposit.com or visit www.netdeposit.com.
NetDeposit is a registered trademark. NetConnect, NetCapture, NDpro, and Decision Gateway are trademarks of NetDeposit, Inc., Salt Lake City, UT. All other brand and product names are registered trademarks, trademarks or servicemarks of their respective holders and are gratefully acknowledged. All specifications subject to change without notice.
Media Contact:
Mary Hockridge
NetDeposit
mary.hockridge@netdeposit.com
650-638-3746