Brink's Selects NetDeposit as Remote Capture Partner

Today, Oct 2004

Cash transporter Brink's (www.brinks.com) and remote capture electronic check processor NetDeposit (www.net-deposit.com) have agreed to bring a remote check image capture solution to the cash processing market. Brink's plans to deploy NetDeposit's Remote For Business system for check image capture and electronic deposit presentment throughout its network of branch operations.

With the upcoming implementation of Check 21 legislation, which provides for the truncation of paper checks and gives legal stature to image replacement documents (IRD), financial institutions can partner with Brink's to remotely capture commercial check deposits at Brink's locations, decreasing commercial customer float and eliminating the need for costly transportation and processing of physical checks.

The NetDeposit product will allow Brink's to capture and validate electronic check deposits and send image deposits directly to participating financial institutions for clearing. Brink's will also be able to print IRDs for non-image enabled customers in its cash vault locations, directly at their bank customers' operation centers, or through an IRD service provider.

"We recognize that cash and checks are intricately tied to each other," said Guy Weissberg, executive VR Brink's Cash Logistics. "Now, with the use of Check 21 technology, Brink's has the ability to offer customers a virtual end-to-end commercial deposit processing solution."