Accounting and Financial Software
Creative Payment Solutions Goes into Production with Carreker's Web Capture Product with Multiple Financial Institutions
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CPS has licensed the Remote Deposit Capture solution to third-party financial institutions to brand as their own and sell to corporate customers
ORLANDO, Fla., Feb. 12 // -- BAI TRANSPAY CONFERENCE & EXPO -- Carreker Corporation (NASDAQ:CANI), a leading provider of technology and consulting solutions for the financial industry, announced today that Creative Payment Solutions, Inc. (CPS), the payments processing subsidiary of BB&T Corporation, has gone into production with multiple financial institutions using Carreker's Source Capture Suite(TM)/Web Capture solution.
CPS, which provides ASP services to its parent company and other banks, has now licensed the Web Capture solution to several third-party financial institutions who will brand the product as their own and sell it to their corporate customers.
"We're committed to providing simplified payment processing services to our customers and Web Capture allows us to achieve that objective in a very fast, efficient manner," said Harold Williams, Chief Operating Officer, Creative Payment Solutions. "There are a number of banks who choose not to install and deploy their own check capture software, and for those institutions CPS and Web Capture are the perfect solution. We've been very pleased with the level of interest and positive response that we've received from our customers."
Web Capture is a bank-branded, remote deposit product that allows CPS customers to use low-cost image scanners to capture images of checks, balance and correct the deposit, create an electronic deposit, and transmit the check image and deposit data to the bank electronically via the Internet, rather than physically transporting checks to various bank branches. In addition to quick deployment, Web Capture also eliminates the need for application software and ongoing maintenance of software and profiles at the remote capture site. Additionally, Web Capture allows CPS customers to track and manage their deposit activity in real-time from multiple store locations.
CPS was created by BB&T Corporation in 2003 as an electronic payment utility to provide services to financial institutions, allowing them to take a leadership role in the evolution of payments in the United States while maintaining their own brands.
CPS offers financial institutions an integrated system that can be used by their corporate clients, remote branch locations, consolidated processing locations or Automatic Teller Machines. Carreker's Branch Capture, Corporate Capture, Web Capture, IRD Author and Source Capture solutions are all core components of the CPS system. By integrating these system components, CPS is capable of delivering a complete, end-to-end solution with Carreker's Source Capture Base engine.
Bobby Batts, Product Manager, Creative Payment Solutions, commented, "We are well positioned to offer best-of-breed technology by providing one integrated core processing solution with built-in functionality such as Back Office Conversion and remittance processing. We offer our clients a fully integrated Corporate and Web Capture solution."
With Web Capture, CPS customers can send images of their checks electronically to CPS in Wilson, N.C. CPS then provides such services as ACH origination, Image Replacement Document (IRD) authoring, posting and archive services.
"We've been delivering our Web Capture solution since the fall of 2005 and are currently on our fifth release of functionality," said Michael Ringuette, EVP, Payments Solutions, Carreker Corporation. "We continue listening to our clients in partnering to aggressively extend these solutions with low-cost, easy-to-use, quantifiable, results-focused enhancements."
J.D. (Denny) Carreker, Chairman and CEO of Carreker Corporation, said, "As remote deposit capture continues its rapid adoption rate in the industry, banks are continually looking for ways to provide the faster, more efficient ways of processing payments, while limiting their capital investments. CPS licensing Web Capture to third-party financial institutions is just one more example of how they continue to be innovative and proactive in their efforts to meet their customers' growing needs."
Web Capture is a component of Carreker's Source Capture Suite of products, all designed for capturing image of checks at remote locations. Other components include Corporate Capture (already deployed by CPS for more than 800 customers), Branch OTC (being deployed at 3,300 Wells Fargo stores), and ATM Capture. Regions Banks and IBM have also licensed components of Source Capture from Carreker.
About BB&T
Winston-Salem-based BB&T Corporation and its subsidiaries offer full- service commercial and retail banking and additional financial services such as insurance, investments, retail brokerage, corporate finance, consumer finance, payment services, international banking, leasing and trust. BB&T operates more than 1,450 financial centers in the Carolinas, Virginia, Maryland, West Virginia, Kentucky, Tennessee, Georgia, Florida, Alabama, Indiana and Washington, D.C. With $118.5 billion in assets, BB&T Corp. is the nation's 11th largest financial holding company. More information about BB&T Corp. is available at www.bbt.com/ .
About Creative Payment Solutions
Creative Payment Solutions (CPS) is a wholly owned payments processing subsidiary of BB&T Corporation. Established in 2003, CPS has been focused on developing electronic payments products that allow corporate clients to take advantage of the efficiencies of emerging payments in the ACH network. CPS is committed to providing these utilities in a manner that allows the financial institution to maintain its brand and relationship with their client. For more information, visit us at http://www.creativepaymentsolutions.com/.
About Carreker Corporation
Carreker Corporation improves earnings for financial institutions around the world. The company's integrated consulting and software solutions are designed to increase clients' revenues and reduce their expenses, while improving security and increasing the value of their customer relationships. Carreker provides products and services to more than 250 clients in the United States, Canada, the United Kingdom, Ireland, continental Europe, Australia, New Zealand, South Africa, South America, Mexico, and the Caribbean. Clients include the full range of community, regional and large banks, among them more than 75 of the largest 100 banks in the United States. Headquartered in Dallas, Texas, since 1978, Carreker Corporation has offices in London and Sydney. For more information, visit www.carreker.com.
Source: Carreker Corporation
CONTACT: Harold Williams, Chief Operating Officer of Creative Payment Solutions,
+1-252-246-3284, hwilliams@ecpays.com
Web site: www.carreker.com/
http://www.creativepaymentsolutions.com/
http://www.bbt.com/
