Source: Metavante Corporation
Metavante Corporation, the banking and payments technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI), announced today that Renasant Bank, of Tupelo, Miss., has gone live with Metavante’s DirectMerchant distributed image capture solution, for its business and commercial customers, under the name Renasant Business Check Express.
Metavante Image Solutions DirectMerchant brings the convenience and cost savings of distributed image capture directly to Renasant Bank's business and commercial clients. DirectMerchant reaches outside the traditional banker-business customer relationship providing commercial customers with the convenience of image capturing and electronically delivering payments directly to the bank.
"The advantages of Renasant Business Check Express for businesses that have medium to large volumes of checks are tremendous," said Marty Ramage, Renasant division vice president for research and development. "Businesses with multiple locations can deposit all of their checks by scanning them onsite, thus cutting down on trips to the bank and reducing multiple location logistics issues."
Renasant Business Check Express allows commercial customers to electronically scan checks at their business and make deposits electronically into their Renasant business account from anywhere in the country. This service allows for deposit reports and retrievable images of deposited checks to be accessed electronically through online banking capabilities. The remote deposit technology gives Renasant Bank's business customers instant check depositing along with the faster collection of checks onsite and the flexibility of later deposit deadlines.
"Renasant Bank has always been at the forefront of providing new image-item processing services to their customers. Being among the first to offer remote merchant capture to business clients is the type of strategic move that has allowed Renasant Bank to compete so effectively with the large national banks in the Southeast," said Gary Nelson, president, Metavante Image Solutions. "Renasant Bank has a proven track record of identifying and implementing powerful new applications before they take root in the industry. Metavante Image Solutions DirectMerchant allows Renasant Bank to offer the same products and services of a large, national bank while retaining the feel and comfort of a community bank."