Contact Information: Debra Kosch Vice President - Marketing 651-229-2873
Alliance Bank Offers Merchant Check Capture Service to Clients
Merchant Capture Allows Business Clients to Deposit Checks From Their Offices
| Source: Alliance Bank
ST. PAUL, MN -- (MARKET WIRE) -- March 22, 2007 -- Alliance Bank, a privately owned community
bank with over $500 million in assets, announced today the launch of
Merchant Capture services for their business clients.
Using a computer, state-of-the-art software and a multi-feed scanner,
clients can scan the front and back of checks to convert them into an image
replacement document (IRD), and transmit their deposits securely through
the Internet. Within seconds of transmitting data and images, an email is
sent back to confirm receipt of the deposit items and deposit total.
Benefits include expedited funds availability and increased efficiency.
Alliance Bank clients using this new service have seen improved cash flow
due to the extended deposit cut-off time for same-day processing. In
addition, their businesses run more smoothly without the daily interruption
of driving to the bank to make their deposits.
In a recent survey conducted jointly by the ABA Banking Journal and ABA's
Community Bankers Council, only 16% of community banks now offer this
service. According to the survey, industries using merchant capture
services include professionals (74%), service firms (55%), contractors
(38%) and retailers and municipal governments (25% each).
"As a community bank with a heavy focus on business and private banking, we
strive to offer the latest technology solutions," said V. Philip Reim,
chief executive officer. "With a large number of our clients in the type
of industries that benefit from Merchant Capture, Alliance Bank made it a
top priority to provide this service. Our clients now have the flexibility
to make deposits remotely into more than one account, and from multiple
business locations. Merchant Capture is a natural extension of our current
array of cash management services designed to help our clients better
manage their working capital."
About Alliance Bank
Alliance Bank is a privately owned community bank with assets in excess of
$500 million. Alliance Bank provides highly integrated commercial,
agricultural, private and personal banking services through nine locations
in Minnesota and Wisconsin. Established in 1867, Alliance Bank delivers
big bank expertise with community bank service. As a family-owned bank,
Alliance Bank is committed to remaining independent and providing personal
interaction and timely decision making. From basic checking and savings
products, to business loans, personal loans, sophisticated cash management
and online banking services, Alliance Bank offers services to help
companies and individuals succeed. Visit www.alliancebanks.com or call
1-888-959-9425 to learn more.