LaSalle Bank offers remote cheque deposit service
LaSalle Bank Corporation, headquartered in Chicago and holding company for Chicago's LaSalle Bank and Troy, Michigan-based Standard Federal Bank, is pleased to announce that its banks will offer a Remote Deposit solution as part of their suite of treasury management services.
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The Remote Deposit service enables companies to reduce the time to deposit and increase the speed of the availability of funds. This is accomplished by scanning checks received at the customer's office and transmitting an electronic deposit to LaSalle Bank or Standard Federal Bank for credit directly into a concentration account.
With the institution of Check 21 last year, all US drawn checks can be truncated at any point in the presentment process. For companies that maintain multiple depository banking relationships, Remote Deposit can translate into significant cost savings through the elimination of multiple depository accounts and the fees associated with those accounts, including courier and transportation fees for paper checks and other paper documents. More importantly, this new technology will broaden the banks' marketing landscape because they can now offer companies a way to facilitate the check deposit process outside of their core markets.
"Remote Deposit eliminates certain geographic barriers, giving the banks the opportunity to deepen existing relationships throughout various US markets and grow deposit accounts customers from outside of their home markets," stated Cindy Murray, executive vice president with the Treasury Management group at LaSalle Bank Corporation. "This virtual environment and the cost benefits associated with Remote Deposit will allow us to do just that."
The additional advantages are the flexibility of accounts and the inherent efficiencies to allow companies to focus on other critical financial tasks. Consumer and commercial checks, money orders and cashier's checks can all be electronically deposited.
"Since clients will spend less time bundling checks, preparing deposit slips and making trips to the bank, more time can be spent on core financial management tasks and developing customer relationships," Murray concluded.
Salt Lake City-based NetDeposit, Inc., will provide their NetCapture and NetConnect software and PC-based document scanners to the banks' customers.