Banks and Customers Alike Reap Benefits of iStream Deposit

You’ve heard of them all: remote deposit capture, merchant capture, image deposit and check truncation – the technology that allows businesses to scan their check deposits and send them electronically to the bank, obviating a branch visit and a traditional paper check deposit.

Now, forget all those other names remote deposit capture goes by and the host of sub-par solutions you’ve waded through. From now on, you only need to remember one name: iStream Deposit, a cutting-edge remote deposit capture technology now available to your financial institution through FIPCO.

Banks and businesses adopt iStream Deposit system for a variety of reasons, but mostly because it’s fast, it’s simple and it makes good business sense for banks and for banking customers.

For banks, iStream helps retain existing customers by making banking convenient and gives banks offering the technology an upper hand on their competition. Additionally, iStream allows your bank to be anywhere. It can help a bank reach new market areas as businesses that were once too far away can now do their banking without actually traveling to the bank.

Customers, too, recognize the benefits of remote deposit capture. It makes funds available faster as checks will clear much quicker than before. Customers enjoy increased flexibility when it comes to daily deposit deadlines for same-day posting. Merchants no longer have to worry about deposit deadlines, employee security or the cost of hiring a courier.

Not technologically savvy? Not a problem. iStream is fast, simple and all you need is a scanner hooked up to an existing PC with Internet and some software that reads the checks and routes the data to the proper accounts.

Here’s how it works:

• After signing on with iStream, financial institutions begin offering remote deposit capture to their business customers.
• Businesses install a scanner and downloadable software from Wisconsin-based
• iStream Imaging.
• The business gathers and scans all of its check items together and, using the online deposit slip, submits its deposit to the institution via a secure, encrypted
• Internet connection.
• Once proofed, the deposit is processed for payment and valid deposits are posted within hours. The depositor can then review deposits, account activity and online reporting without leaving his or her desk. Merchants no longer have to worry about deposit deadlines, employee security or courier costs.

To watch a demonstration of the technology online, visit http://www.istreamimaging.com.

For further information regarding iStream Deposit, contact FIPCO’s customer service department at 800-722-3498 or .

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