Jack Henry Reports Record Remote Deposit Capture Transactions
Jack Henry has announced that its Remote Deposit Capture (RDC) solution continues to set new transaction volume records. The company's RDC solution now supports more than 22,000 merchants and 85,000 merchant locations. "After a record-setting July, during which more than 11,350,000 RDC transactions were processed, volumes continued to increase and another monthly record was set in August with more than 11,685,000 RDC transactions processed. The collective transactions processed during this two-month period represent in excess of $18 billion."
An all-time daily record was also set on August 3, 2009 when approximately 875,000 transactions were processed, representing in excess of $800 million in collective transaction amounts and approximately 100,000 more transactions than the previous daily record.
Bill Phillips, group president for ProfitStars' Enterprise Payment Solutions (EPS) group, said, "RDC is evolving into a service financial institutions must offer to successfully compete for and retain lucrative commercial customers. This high-demand service generates tangible benefits for our financial institution clients including the ability to expand their reach beyond their traditional markets, enhance their competitive position and customer convenience, increase revenue, and improve operating efficiencies. This convenience-driven service also generates an important benefit for businesses that are concerned about cash flow in the challenging economic environment since RDC expedites funds availability and reduces routine business expenses."
According to David Foss, president of ProfitStars, "We believe the record-setting transaction volumes demonstrate the growing demand for remote deposit capture and the growing acceptance of electronic transactions among diverse merchants and businesses. We also believe that this success is a testament to the sophistication of our transaction processing platform and the hard work and commitment of our EPS group. We are excited about the significant transaction volume increases we are seeing and about the adoption rate among merchants. During the past 18 months, the number of merchants using our RDC solution has more than doubled from approximately 11,000 to more than 22,000. There is tremendous momentum behind our RDC solution which we plan to maintain with aggressive and targeted sales efforts, and by ensuring our RDC solution continues to deploy leading-edge payment processing technology and is backed by distinct service levels."
As a natural complement to its Remote Deposit Capture solution, Jack Henry & Associates also offers Dep@sit(TM), a micro business capture solution that enables small businesses and individuals to deposit small numbers of checks remotely using off-the-shelf home flatbed scanners.
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