Commerce Bank selects RDM electronic cheque clearing system

Source: RDM Corporation

RDM Corporation (TSX: RC), today announced that Commerce Bank, headquartered in Missouri, has teamed up with RDM to introduce an end-to-end cheque electronification product to the market.

Commerce Bank's solution, a full cheque electronification platform that encompasses accounts receivable cheque (ARC) and Check 21 functionality, will significantly enhance the process whereby billers accept payments.

"We are pleased to be able to offer our customers a leading edge remote capture solution," said Christopher Lantman, assistant vice president of emerging products of Commerce Bank. "Leveraging RDM's technology and our own expertise and customer relationships, we will help our customers increase efficiency by allowing them to capture and present deposited items from their company location, wherever it might be located."

As Commerce Bank signs on customers to its cheque electronification solution, their transactions will be processed through RDM's industry leading Image & Transaction Management System (ITMS). ITMS is a powerful, secure, ASP-based cheque electronification platform that enables the capture, processing, and routing of all cheque items through Automated Clearing House (ACH), Check 21, and Image Exchange processing endpoints.

"We are excited to provide a key component in Commerce Bank's electronic cheque strategy," said Douglas Newman, President and CEO of RDM Corporation. "The double digit growth of ARC conversion combined with the implementation of Check 21 has paved the way for billers to have a true, exception free, cheque electronification program. Commerce Bank has always been a leader in providing innovative products to their customers. The electronic cheque deposit solution will carry on that tradition by offering their customers a powerful processing platform that will increase operating efficiencies, reduce costs, and bolster profitability."

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