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NetDeposit Awarded Two Patents for Electronic Check Processes
Monday, June 18, 2007
NetDeposit's Patents Provide Its Customers with Valuable Intellectual Property Protection
Salt Lake City, UT -- NetDeposit, Inc. (http://www.netdeposit.com), the leader in innovative check payment technologies and services, announced it has been awarded two new patents, Nos. 7,181,430 and 7,216,106, from the United States Patent and Trademark Office (USPTO) for the processes and technologies involved in remote electronic presentment of all types of checks. The patents cover NetDeposit's array of software products and services, which enable electronic check presentment and payment. NetDeposit has a number of additional patent applications under review by the USPTO to further protect the full scope of remote capture and electronic presentment of images and electronic deposits.
"Years before Check 21, NetDeposit developed the idea of remote deposit capture, its processes, its possibilities, and its potential for financial institutions and their customers. Since that time we have continued to pursue our vision, document our success and create this new market," said Danne Buchanan, CEO of NetDeposit. "Approval of these patents validates our customers' decision to make this intellectual property a central element of their operations. Our commitment is to continue to provide vision and leadership for our customers and the industry as a whole."
The first patent, No. 7,181,430, covers a method of deposit processing at a central site for checks deposited at a remote site with accompanying deposit information. The second patent, No. 7,216,106, covers processing deposits at a central location that are received from remote sites and includes individual customer attributes. More information on the two patents may be obtained by visiting the Web site of the United States Patent and Trademark Office at http://www.uspto.gov and searching on the patent numbers.
With customers that have processed more than 500 million checks using its solutions, NetDeposit continues to lead the remote deposit capture market and has a proven track record of providing measurable value to its customers and enabling efficient check processing. NetDeposit is pleased to count as its customers a number of the world's largest cash management banks and an ever increasing list of successful regional banking organizations in the US.
About NetDeposit, Inc.
NetDeposit, Inc. is leading a revolution in the way check payments are processed. More money changes hands through checks than any other form of payment and NetDeposit is changing how financial institutions compete for customers. NetDeposit solutions enable financial institutions to evolve their operations by replacing manual check handling with distributed capture and electronic image processing. Since its founding in 1999, NetDeposit has led the market in the number of remote capture locations and processed millions of checks for top international banks and regional U.S. financial institutions.
NetDeposit is a subsidiary of Zions Bancorporation (Nasdaq: ZION). For information call 1 (801) 273-6067, email: pressrelations@netdeposit.com or visit http://www.netdeposit.com.
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