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NetDeposit Ends 2007 with Significant Growth in Remote Deposit Capture Seats and Transaction Volumes
New FastTrack Market Acceleration Program Helps Banks Deploy More Remote Deposit Capture Seats
Salt Lake City, Utah — February 5, 2008— NetDeposit, Inc. (www.netdeposit.com), the leader in innovative check payment technologies and services, announced today it enjoyed tremendous growth in the number of remote deposit capture (RDC) seats, transactions processed and that it added a number of new bank clients in 2007. Additionally, the company launched a new market acceleration program, FastTrack, to help its clients get to market faster and be more successful. This program greatly contributed to the increase in RDC seats and speed with which new bank clients have entered the market and used the service.
NetDeposit ended 2007 with over 15,000 RDC seats deployed and in use in the market. The company also processed more than 98 million transactions in the month of December, establishing a potential annual run rate of more than one billion transactions for 2008. NetDeposit increased its bank customer base by 30% in 2007 and is already entering contract negotiations with three other banks this year.
“NetDeposit has experienced another year of fantastic growth,” said Royce Brown, president and COO of NetDeposit. “RDC solutions from NetDeposit have been used through a record number of seats, enabling unprecedented transaction volume. Our objective is to continue our growth by providing financial institutions the best products available for all aspects of check electronification and the sales and marketing tools necessary to make them successful.”
NetDeposit launched its FastTrack Market Acceleration Program in the third quarter of 2007. Designed to assist NetDeposit customers in marketing and selling remote deposit capture and electronic imaging services, FastTrack provides resources for developing marketing messaging and targeting buyers, along with ready-to-use sales tools, including marketing collateral, product demonstrations, presentations and training.
Since its introduction, FastTrack has been utilized by several banks selling RDC offerings powered by NetDeposit. This has enabled them to significantly accelerate their product launches and market penetration. The program is an evolving service that adds new tools and updates through direct feedback from NetDeposit customers.
“This past year, the growth in seats and transactions, as well as the awarding of two patents for remote deposit capture, has all combined to amplify NetDeposit’s position as an industry leader in remote deposit capture. In 2008, I’m confident that NetDeposit will further extend its position as a market leader,” concluded Mr. Brown.
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