Bank Up Corporation, San Ramon, Calif., a leading provider of
payments solutions to financial institutions, has announced performance
statistics for the first six months since the inception of its Remote
Corporate Capture solution.
Bank Up processed over $55,000,000.00 in remote corporate deposits
in the month of July. Both deposit volume and transaction volume
increased significantly. The deposit volume in June was $18.3 million
dollars. Launched in October 2006, Bank Up's Remote Corporate
Capture solution has now been deployed by 14 banks throughout the
Western United States. "We attribute the dramatic increase in our
business to several factors", said Michael Santimauro, CEO of Bank
Up Corporation. "First, we are seeing rapid adoption by our current
bank customers. The number of our banks' new clients has grown by
43% since June. Second, the combined impact of imaging and Check 21 and
the simultaneous development of the conversion capabilities from paper
checks to electronic transactions are now becoming more prevalent in the
small to mid-size business marketplace. Finally, since implementing our
web-based RCC solution in May, we are seeing greater acceptance of our
solution based on its ease of use and robust applications and
features."
Bank Up's Remote Corporate Capture solution provides for
complete hardware and software deployment and maintenance, flexible
processing options and host integration. Bank Up's infrastructure
can be implemented quickly, is cost- effective and has scalable pricing
options. Bank Up also enables financial institutions to private label
the solution with their own brand. The technology supporting Bank
Up's solution is provided by Wausau, a leading provider of item
processing and remote capture technology.
Remote Corporate Capture allows an institution's clients to
use a check scanner at their office, processing center, or branch to
electronically transmit check images or ACH-data to a bank for posting
and clearing. The process provides clients with faster access to funds,
reduced costs by eliminating the transportation of paper checks to a
bank, and overall better risk management. Bank Up's Remote
Corporate Capture Solution complements the company's other
services, which include item and remittance processing, business
continuity services and consulting, and hosted data back-up.
"Bank Up's Remote Corporate Capture solution is part of
the company's strategic objective to provide a complete array of
independent, cost effective services and solutions delivered from our
Payment Processing Centers to keep our banks and credit unions at the
forefront of innovation," Santimauro said.
About Bank Up Corporation
Bank Up Corporation is a privately held company that provides item
and remittance processing, business continuity services, remote
corporate capture processing, hosted data back-up and business
continuity consulting to financial institutions and government agencies.
Founded in 1989, Bank Up works with more than 70 customers across the
country. Headquartered in San Ramon, Calif., the company has offices in
El Monte, Calif., Atlanta and St. Louis. Bank Up is SAS 70 Levels
1&11 certified.
For more information, call 925-277-3900, or visit
http://www.bank-up.com.
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