Source: Thomson Financial
Thomson Financial, an operating unit of The Thomson Corporation (NYSE: TOC, TSX: TOC) and leading provider of information and technology solutions to the worldwide financial community, today announced that it has selected RemitPro as a partner to provide its brokerage clients a real-time, back-office integrated check imaging solution that will shorten the processing time for incoming cash receipts and allow brokerages to consolidate banking operations.
According to the agreement, Thomson BETA Systems can now provide a single point of entry check scanning solution that allows firms to accelerate access to deposited funds by transmitting Check 21 images to the client's bank resulting in increased operational efficiency and improved operating margin.
"Our relationship with RemitPro is another example of how Thomson BETA Systems is enhancing client value and workflow through strategic relationships," said Chris Maloney, Managing Director, Thomson BETA Systems. "This Check21 solution allows Thomson BETA customers to take advantage of faster settlement of funds, thus improving their overall performance."
Jana Waughn, President, RemitPro added, "Integrating eRemitPro into BETA Systems is a very efficient way to quickly convert a paper check into a bank deposit. We are excited to be working with Thomson BETA Systems to provide an end-to-end solution for its customers."
The Check 21 electronic deposit system allows users to make deposits by sending a standardized check image file to the bank of their choice. RemitPro provides the desktop application and scanner and creates an Image Cash Letter for settlement in accordance with the Check Clearing for the 21st Century Act (Check 21). This Act allows for printed versions of scanned paper checks to act as legal substitutes, speeding up the clearing process and ending trips to the bank to deposit checks.