Service provides remote check capture capabilities.
Press Release Summary:
Remote check capture service enables corporate customers to scan and truncate checks they receive from payors and electronically transmit images to Mellon GCM, where they are processed through wholesale lockbox or directly through deposit operations. Utilizing Image and Transaction Management System (ITMS) as its check image capture and routing software, service helps decrease transportation costs, enhance customer service, and accelerate access to cash.
Original Press Release:
Mellon Global Cash Management Launches New Remote Check Capture Service
- Customers benefit from time and cost savings -
PITTSBURGH, Oct. 3 / -- Mellon Global Cash Management (GCM) today announced the full rollout of its remote check capture service - a new solution that enables corporate customers to scan and truncate checks they receive from their payors and then electronically transmit the images to Mellon GCM, where they are processed through wholesale lockbox or directly through deposit operations. Users benefit from decreased transportation costs, enhanced customer service and accelerated access to cash.
Mellon GCM has chosen RDM Corporation's innovative Image & Transaction Management System (ITMS) as its check image capture and routing software. This comprehensive check electronification platform is designed to help Mellon GCM's corporate customers reduce check processing costs while increasing efficiencies.
To ensure the product's viability for its customers, Mellon GCM worked with six clients to pilot its remote check capture technology. Those customers cited Mellon's new solution for its dependability and ability to streamline their payments systems, as well as for the quick and responsive support Mellon has consistently delivered.
"Most companies have check payments presented to them that arrive outside of their typical collections process. The introduction of our remote check capture solution is another example of our efforts to leverage Check 21 to bring a more comprehensive receivables solution to the payments marketplace," said Robert W. Stasik, executive vice president and director of Mellon GCM. "We are dedicated to satisfying our customers' desire to process check deposits more efficiently, and expect our transaction volumes to grow steadily as a result. As the cash management industry continues to move toward electronic check presentment, we are also devoting resources to explore future applications of remote capture technology as part of our overall imaging strategy."
The new remote check capture service is among the number of innovative product demonstrations that Mellon GCM will provide during the Association for Financial Professionals Conference in San Antonio between 8 a.m. and 5 p.m. on Monday, October 10, and Tuesday, October 11 at The Hilton Palacio del Rio, 200 S. Alamo St.
Mellon Global Cash Management, a payments industry leader synonymous with quality performance and known for its innovation and expertise, designs comprehensive solutions through its broad line of cash management services to meet the specialized treasury needs of corporations, nonprofit organizations and financial institutions. Recently, an independently-administered customer satisfaction survey revealed that Mellon GCM continues to distinguish itself from its competition in the areas of operating quality, commitment to cash management and customer service. In addition, Mellon GCM was one of only two providers to achieve an A+ average for product performance in the 2004 Phoenix-Hecht(R) Quality Index(TM) of 33 major cash management providers. Throughout 2005, Mellon GCM is celebrating its 50th anniversary in remittance processing. In addition, Mellon GCM is the only electronic payments services provider in the U.S. to successfully complete both a Level 3 Capability Maturity Model(R) (CMM(R)) assessment for its software engineering practices and attain ISO 9001:2000 Registration. More information on Mellon GCM is available at mellon.com/gcm.
Mellon Financial Corporation (NYSE:MEL) is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world's leading providers of financial services for institutions, corporations and high net worth individuals, providing institutional asset management, mutual funds, private wealth management, asset servicing, payment solutions and investor services, and treasury services. Mellon has approximately $4.2 trillion in assets under management, administration or custody, including $738 billion under management. Its asset management companies include The Dreyfus Corporation and U.K.-based Newton Investment Management Limited. News and other information about Mellon is available at www.mellon.com.
CONTACT: Ron Gruendl of Mellon Financial Corporation, +1-412-234-7157, or gruendl.rr@mellon.com
Web site: http://mellon.com/gcm
