ATLANTA, March 9, 2006 (PRIMEZONE) -- Financial Technologies, Inc. (FTI) today announced it has reached an agreement with ebank to process paper deposits made by its customers using FTI's QuickPost(sm) deposit and payment forwarding service. The service allows customers of participating financial institutions to forward deposits or payments overnight through any of the 4,100 domestic locations of The UPS Store(R). The terms of the agreement were not disclosed.
"Many financial institutions with limited physical presence are looking for cost-effective ways to gather deposits and payments," said Tom Cable, president, Financial Technologies, Inc. "QuickPost is a great value-added service because it provides a fast, convenient and secure alternative for customers to forward deposits to their financial institution and have them post the next business day. We continue to see high adoption rates and exceptional customer satisfaction scores from QuickPost users."
ebank, an Internet bank with customers throughout the United States, becomes the third financial institution to join the QuickPost network since the service was introduced a year ago. Customers of USAA Federal Savings Bank and NetBank already enjoy the convenience, speed and reliability of QuickPost.
"QuickPost makes sense for our customers," said James L. Box, president & CEO, ebank. "They're spread across the country, and we have one branch. With QuickPost, they have an easy and secure method to deposit funds into their account quickly, no matter where they are located."
The service is simple for customers to use and financial institutions to implement. Customers simply take their check and completed deposit slip to the nearest location of The UPS Store. Once there, they place their item in a QuickPost envelope for delivery. All QuickPost envelopes are then consolidated and sent via UPS Next Day Air(R) delivery to a state-of-the-art deposit and payment processing center. There, the deposits are processed and the funds are electronically routed to the customer's bank account.
The center is highly scalable and was designed to take full advantage of Check 21 legislation and new electronic check imaging technology. Since checks can be converted to digital images and processed electronically, it dramatically reduces the time from check drop-off to availability of funds.
About FTI
Financial Technologies, Inc. is a subsidiary of NetBank, Inc. (Nasdaq:NTBK), a diversified financial services provider. FTI offers financial institutions technology solutions that include: NetServ(sm), a private-label Internet banking solution; QuickPost(sm), a deposit and payment forwarding service; and PowerPost(sm), a remote deposit capture service. For more information, call 1-866-441-4FTI.