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Today, Treasury Management professionals find themselves in a market that is not simply evolutionary, but one that is radical and revolutionary. Corporate cash managers are becoming increasingly aware of Check 21 and the value of new products designed to take advantage of the new legislation. This creates unprecedented opportunity for Cash Management banks to deliver new revenue-generating products and services. However, the competitive landscape between banks is forever changed because virtual deposit capabilities create borderless markets. Financial institutions are now able to open new deposit relationships with companies anywhere in the world.
Financial institutions must not only fend off existing competitors located in their geographic region, but also protect their current corporate accounts from financial institutions located hundreds or thousands of miles away. Banks that do not acknowledge the changes in this new market environment and fail to actively participate in this marketplace will find themselves at a great disadvantage.
Years ago, very few technology vendors predicted that the first area of the bank to be significantly impacted by Check 21 would be Cash Management. At NetDeposit® we made this prediction, and we were right. That’s why in 2001 we developed NetCapture™ Business, the industry-leading remote corporate capture product, and achieved the first-to-market position.
NetDeposit connects the power and promise of check electronification to you and your cash management and correspondent banking customers, so you can:
- Expand market presence by removing geographical boundaries
- Replace declining paper cash letter revenue and drive volume to your
Check 21 platform
- Build barriers against competition
- Create a new revenue stream
- Build customer loyalty by providing tangible options for cost/time savings in their payment process
- Reduce operational and transportation costs
- Offer extended deposit deadlines
- Provide earlier access to funds
To find out how you can win in this new environment, call us at 801-273-6067 or send an email to info@netdeposit.com.
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