20.09.2005 12:30:00
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Financial Technologies, Inc. Adds USAA Federal Savings Bank to QuickPost(SM)Deposit and Payment Forwarding Service
"Many financial institutions with limited physical presence arelooking for cost-effective ways to gather deposits and payments," saidTom Cable, president, Financial Technologies, Inc. "QuickPost is agreat value-added service because it provides a fast, convenient andsecure alternative for customers to deposit funds into their accountno matter where they are located.
"We continue to see interest in the service and believe we cangrow the network of participating institutions over time," Cableadded.
The service is simple for customers to use and financialinstitutions to implement. Customers simply take their check andcompleted deposit slip to the nearest location of The UPS Store(R).Once there, they place their item in a QuickPost envelope fordelivery. All QuickPost envelopes are then sent via UPS Next Day Airdelivery to a state-of-the-art deposit and payment processing center.There, the deposits are processed and the funds are electronicallyrouted to the customer's bank account.
The center is highly scalable and was designed to take fulladvantage of Check 21 legislation and new electronic check imagingtechnology. Since checks can be converted to digital images andprocessed electronically, it dramatically reduces the time from checkdrop-off to availability of funds.
In March, FTI completed its initial deployment of QuickPost withNetBank, an Internet bank located in Atlanta. FTI began marketing theservice to other financial institutions shortly thereafter, and FTIplans to sign up additional institutions for the service.
About FTI
Financial Technologies, Inc. is a subsidiary of NetBank, Inc.(Nasdaq: NTBK), a diversified financial services provider and parentcompany of NetBank(R) (www.netbank.com). The company offers financialinstitutions technology solutions that include: NetServ(SM), aprivate-label Internet banking solution; QuickPost(SM), a deposit andpayment forwarding service; and PowerPost(SM), a remote depositcapture service. For more information, call 1-866-441-4FTI.
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