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Rosetta and RDM Corporation Join Forces with Check 21 Solutions |
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Rosetta Technologies
Corporation and RDM Join Forces to Deliver Comprehensive Check 21 Solutions FOR RELEASE MAY 3rd, 2005
The solution, incorporating RDM's innovative and proprietary Image & Transaction Management System (ITMS™) and Rosetta Technologies' robust and extensible IRDPrint System – Remote Capture software, provides a complete solution for remote capture and the assembly and printing of ANSI-compliant substitute checks (IRDs) with the associated accumulated deposit tickets and routing information. The system allows both large and small financial institutions to fully leverage the Check 21 Act and enhance the services they offer corporate customers. Remote capture saves merchants a trip to the branch across town. In addition, financial institutions may now offer services to merchants beyond the geographical area covered by their branch locations. Corporate billers can now scan their incoming checks, route the electronic items to RDM's ITMS software, where a decisioning process determines how to route the transaction. If a captured transaction does not qualify for ACH or other electronic routing, it is sent to Rosetta's IRDPrint System-Remote Capture software. The IRDPrint Systems then converts those electronic files into ANS-compliant Image Replacement Documents and compiles a deposit ticket for the batch. It is then printed on a Rosetta Technologies MICR printer, at the rated speed of the printer, for further transaction processing. “We've known and worked with RDM for many years, as a result of their long-standing position in the world of MICR verification and our long history of developing MICR printing solutions”, stated Rob Hullar, President and CEO of Rosetta Technologies. “Check 21 has brought us together with a strongly complementary set of products. Each of our two companies can apply our considerable skills and knowledge to help banks and other institutions take advantage of Check 21”, he continued. “RDM's ITMS product allows financial institutions and corporations to remotely capture incoming checks, converting them electronically, while our RIPD system, coupled with our MICR printers, allows banks or outsourcers to print Image Replacement Documents and deposit tickets generated by that process”, he stated. “We are very excited about this opportunity to team up with a company like RDM”, he concluded. Tom Kettell, Vice President of Marketing
of RDM Corporation stated, “The introduction of Check 21 has created a
monumental shift in how checks are processed. The implementation of
Check 21 has paved the way for billers to have a true, exception free,
check electronification program. The strategic alliance with Rosetta
Technologies as an ITMS Certified Partner provides our financial
institution and corporate biller customers with a full-featured
end-to-end solution for check electronification. About Rosetta Technologies Corporation Rosetta Technologies Corporation has been developing MICR printing solutions since the early 1990s. As a total solution leader for enterprise check printing, the Company delivers a full-service product set for business-critical applications, such as check printing and secure documents. The Company's offerings include a complete family of MICR laser printers from 37 to 276 IRDs-per-minute engineered by Rosetta Technologies for ANSI compliant MICR output. The Company offers a full suite of software packages for IRD creation and management, check creation, output management and disbursement, post processing equipment, supplies, and on-site service. On the Web: www.rosettatechnologies.com. About RDM Corporation RDM Corporation is a leading developer of specialized software and hardware products for electronic payment processing. RDM was a pioneer in electronic check conversion systems introducing web-based image and transaction management services for banks, billers, retailers, payment processors and government agencies. On the Web: www.rdmcorp.com. For more information, please contact: George Strickland, Marketing Communications Manager Tom Kettel |
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PRESS RELEASES
Rosetta Technologies Worldwide
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Tampa,
Florida, May 3, 2005 - Rosetta Technologies today announced that it has
entered into a strategic alliance with RDM Corporation of Waterloo,
Ontario (TSX:RC) to deliver an end-to-end check electronification
solution to the market in support of the Check 21 Act.
