SOURCE: BankServ

March 05, 2008 10:00 ET

Annual Greenhouse Gas Emissions Could Drop More Than 1 Billion Pounds Through Online Check Deposit Use, Payments Firm Reports

BankServ Helps Businesses Cut Emissions by Depositing Checks Right From the Office

SAN FRANCISCO, CA--(Marketwire - March 5, 2008) - Billions of pounds of greenhouse gas emissions could be saved each year if small businesses adopt online check deposits, estimates BankServ (www.bankserv.com), a worldwide electronic payments company. Online check deposit services let businesses and individuals use desktop PCs, check scanners and the internet to deposit checks directly into their bank accounts without travelling to the bank.

Because online check deposit services are widely available from financial institutions and directly through products like BankServ's DepositNow!, BankServ believes that businesses should move immediately from costly, "deposit run" banking. Even if the nearest bank branch is only a few miles away, cutting out that short trip every day reduces a typical firm's annual fuel consumption by 50 gallons and greenhouse gas emissions by 1,000 pounds. To illustrate the environmental impact of online deposits, BankServ has posted a "green savings" calculator on its Web site at www.bankserv.com/greenbanking.

"When we calculated the time and environmental cost of routine deposit runs, we were amazed to see the impact that even short car trips have on the environment," said Dave Kvederis, BankServ's President and CEO. "We found if you reduce the amount you drive by even a few miles a day, you can cut carbon emissions by half a ton each year.

"The one thing always missing from online banking was the ability to make a deposit -- you still had to drive to the bank. DepositNow! solves that need for businesses and depositors of all financial institutions who are looking to make check deposits online."

For each 1 million businesses that switch to online deposits, more than 2 million barrels of oil are saved annually in addition to the reduced greenhouse gas emissions. Those businesses would also save approximately 75 million sheets, or 800 trees' worth, of paper per year that would otherwise be used to print deposit slips.

"When you think of ways to help the environment, online check deposits have not normally jumped to mind," said Kvederis. "But if a million people are doing it, suddenly we're saving 250,000 gallons of gasoline a day. The message is simple: When safe, secure technology lets you reduce the time spent in your car or sitting in traffic, you make a positive impact on the environment all while saving time and money. It's win-win for businesses and the planet."

Online check deposit use is expected to grow rapidly in coming years. Financial industry analyst firm Celent predicted in a June 2007 research report, titled "State of Remote Deposit Capture," that online deposit ("remote deposit") users will approach the one million mark within the next two years and potentially grow to over five million by 2012.

About the Online Deposit Savings Estimates

References for the above calculations can be found at www.bankserv.com/greenbanking.

About DepositNow!

DepositNow!, the leading online check deposit solution, is available through financial institutions across the United States and available directly at www.depositnow.com. In addition to enabling safe, secure online check deposits, DepositNow! is the first product that automates the accounting related to online deposits for QuickBooks™ and Peachtree™ accounting system users. DepositNow! supports a variety of check scanners, including BankServ's SB1000, the lowest-priced scanner in the industry at $225.

About BankServ

Since 1996, BankServ has been developing and delivering electronic payments technology for financial institutions across the globe, including systems for Fedwire, SWIFT, person-to-person payments and Check 21. More information about privately held BankServ can be found at www.bankserv.com.

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