ATLANTA, July 6, 2006 (PRIMEZONE) -- Financial Technologies, Inc. (FTI) today announced it has reached an agreement with The Dime Savings Bank of Williamsburgh 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 more than 4,100 domestic locations of The UPS Store(R). The terms of the agreement were not disclosed.
"Many financial institutions 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."
Dime, with more than $3 billion in assets and 21 branches in the New York metropolitan area, becomes the first New York-based bank and the latest financial institution to join the QuickPost network since the service was introduced a year ago. QuickPost currently serves more than four million customers of participating financial institutions.
"Bank customers consistently rank convenience as one of the most important aspects of a banking relationship," said Christopher Maher, executive vice president, Dime. "The new service will give our customers more than 4,100 locations where they can easily and securely deposit funds into their account. More than 120 of those locations are in the greater New York metropolitan area, providing unparalleled convenience for our customers."
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.