MONETT, Mo. — Jack Henry & Associates Inc. said its remote-deposit capture solution is now being used by 622 financial institutions and approximately 11,000 merchants.
A total of 720 financial institutions have committed to using the RDC solution, which is sold to credit unions running Symitar core processing platforms, banks served by the company's Jack Henry Banking division and FIs outside its core client base through the ProfitStars division, the company said.
The Web-based RDC solution allows businesses to scan, deposit and submit checks electronically through the ACH or Check 21 image-exchange networks and automates returned check representment and real-time reporting.
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David Foss, general manager of ProfitStars, said the client list for RDC has more than doubled in the past 12 months. However, not many are credit unions.
John San Filippo, marketing manager for Symitar, said, "Penetration into the CU space has been minimal, since this is generally tied to an institution's involvement with commercial services. We expect to see a strong growth in RDC interest among credit unions in the months ahead that mirrors growth in member business services as a whole."
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