FOR IMMEDIATE RELEASE
Director of Corporate Marketing
(262) 796-0925 ext 1574
iStream Imaging® Partners with Digital Currency Systems and Coribrand Systems to Establish an Integrated Check 21/Remote Deposit Capture Solution for the Money Service Business
Brookfield, WI – September 11, 2006 – Working with companies to improve their bottom line, iStream Imaging® and its affiliate company, Kenney Bank & Trust, in a cooperative effort with Digital Currency Systems of Northbrook, IL and Coribrand Systems of Bloomingdale, IL have established an unprecedented efficient and financially advantageous way for Money Service Businesses to deposit their checks. By combining the Checking for the 21st Century Act (Check 21)/Remote Deposit Capture process from iStream with the technical expertise of DCS and Coribrand, it is now possible for Money Service Businesses to have a deposit solution that integrates directly into their operating platform.
According to Todd Gagerman, President of DCS, “Having the ability to access funds sooner is a tremendous benefit to our customers' bottom line. Data from our initial pilots of this solution showed a cost of about 8 cents per day/check for check funds not received. With an average of 4.25 days to receive collected funds in traditional banking, our customers who do not utilize Check 21 are paying about $.45/check when including a $.11 per-item bank fee. Additionally, the decreased notification time of return items enables our customers to more effectively monitor potential fraud and problem companies.”
with the technical group at iStream has been a
cooperative effort complimentary to both organizations,” says
Richard Joachim, President of iStream Imaging® adds “The establishment of the Checking for the 21st Century Act or Check 21 not only has begun to eliminate the lack of ability to move funds in a crisis, as occurred on 9/11, but has allowed a number of diversified companies to branch out beyond their normal business practice and explore other avenues for revenue generation.”
iStream Imaging, Inc.
iStream Imaging® is an innovative leader in the electronic check clearing industry. Using process engineering iStream Imaging® maximizes secure movement of data while minimizing delivery and overhead costs to process check payments. The iStream Imaging® vertically integrated infrastructure provides secure connectivity to major check clearing channels. Innovative technology, products and services provide intelligent solutions to financial institutions, business entities and other payment processing parties. The core strategy of iStream Imaging® is to minimize the costs of check handling while maximizing productivity for businesses and financial institutions. Information is available on our website at www.istreamimaging.com.
Digital Currency Systems
Digital Currency Systems is a nationally recognized leader in the development of user-friendly check cashing software.
DCS provides modular systems, so users can computerize as little or as much as they desire. DCS systems are designed for single or multiple locations, utilizing state-of-the-art data-sharing and networking technologies. For more information call 847-498-9955 or email to email@example.com View information about DCS via www.dcsorg.com.
Founded in 1996 as a software consulting group, Coribrand Systems has been working closely with the check cashing industry for a number of years. We have developed, and continue to develop, a wide range of industry specific software solutions. Our goal is to use technology to reduce the many risks associated with the check cashing industry. Please call 630-529-0845 today to see how Coribrand Systems can help streamline your business productivity or Email: firstname.lastname@example.org. Additional information is available on our website at www.coribrand.com.
If you would like more information, please contact Tom Anderson, Director, iStream Imaging® (262) 796-0925 ext. 1023.