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Brink's and NetDeposit Team to Bring Check 21 Solution to Market
Brink's Selects NetDeposit as Remote Capture Partner
SALT LAKE CITY, Aug. 17 /PRNewswire-FirstCall/ -- Brink's, U.S. ("Brink's"), a
recognized national leader in secure transportation and cash logistics
solutions, and NetDeposit, Inc., the leading innovator of remote capture and
end-to-end electronic check processing, announced today the signing of an
agreement to bring a remote check image capture solution to the cash processing
market. Brink's plans to deploy NetDeposit's Remote For Business(TM) system
for check image capture and electronic deposit presentment throughout their
nationwide network of 150 branch operations.
With the upcoming implementation of Check 21 legislation, which provides for
the truncation of paper checks and gives legal stature to image replacement
documents (IRD), financial institutions can partner with Brink's to remotely
capture commercial check deposits at Brink's locations, decreasing commercial
customer float and eliminating the need for costly transportation and
processing of physical checks. Brink's plans to utilize the robust, highly
scalable NetDeposit Remote For Business(TM) product to capture and validate
electronic check deposits as well as the NetDeposit Decision Gateway(TM) to
send image deposits directly to participating financial institutions for
clearing.
In production for over two years, NetDeposit's proven software solutions offer
a consistent customer experience within highly complex, distributed
environments. Banks that cannot accept an image file are not left out of the
benefits equation. NetDeposit's Distributed Print Server(TM) will allow
Brink's to print IRDs for non-image enabled customers, in their cash vault
locations, directly at their bank customers' operation centers, or through an
IRD service provider.
"As an innovative cash logistics solutions provider we recognize that cash and
checks are intricately tied to each other. Now, with the use of the NetDeposit
high-end Check 21 technology, Brink's has the ability to offer customers a
virtual end-to-end commercial deposit processing solution. By providing such
value-added services, our customers will be able to significantly reduce costs
associated with float, transportation, paper handling and capital investment,"
said Guy Weissberg, Executive Vice President, Brink's Cash Logistics.
"NetDeposit's solution provides us with a single platform specifically built
and designed for the complexity of the multi-bank, multi-customer environment
in which we work."
"We're pleased to be working with the preeminent armored car carrier in the
country," said Danne L. Buchanan, CEO, NetDeposit, Inc. "Cash vaults are a
natural electronic check capture location for many retailers and banks.
Partnering with Brink's fits very well with NetDeposit's focus to push capture
out to a distributed environment."
Pilot customers are currently being selected and the new product offering is
expected to be ready for production deployment by October 28, 2004.
About Brink's, Incorporated
Brink's, Incorporated delivers tailored, end-to-end cash logistics solutions to
the banking and retail marketplace. Core to the Company is the ability to
uniquely manage the intricacies of the cash supply chain. With 150 U.S. branch
locations Brink's, Incorporated can provide solutions that are comprised of
industry-leading services and technologies. Leading-edge cash logistics
expertise, technology and facilities provide customers with a wide range of
solutions to meet their unique service requirements.
Brink's, Incorporated is a wholly-owned subsidiary of The Brink's Company, a
Richmond, Virginia-based corporation that trades publicly on the NYSE under the
ticker symbol BCO. For additional information on The Brink's Company please
visit the Company's Web site at http://www.brinkscompany.com/.
About NetDeposit, Inc.
NetDeposit, Inc. is a leading innovator of Check 21 software products for
banks, third party processors, and commercial businesses to enable distributed
capture, point of entry truncation, optimized clearing, and full settlement
reporting. NetDeposit's product suite operates from a robust and highly
scalable technology platform that electronifies paper and manages item level
clearing through the optimal eligible channel -- whether a clearing house, Fed
Reserve or paying bank. NetDeposit, Inc. is a wholly owned subsidiary of Zions
Bancorporation (NASDAQ:ZION) in Salt Lake City, Utah and San Mateo, California.
More information can be found at http://www.net-deposit.com/.
DATASOURCE: Zions Bancorporation
CONTACT: Dianne Douglas of NetDeposit, Inc., +1-415-584-4906,
; or Paul M. Blachowicz of Brink's, Incorporated,
+1-469-549-6117,
Web site: http://www.brinkscompany.com/
Web site: http://www.net-deposit.com/
Web site: http://www.zionsbancorporation.com/