SOURCE: 3i Infotech

3i Infotech

April 19, 2011 08:10 ET

Conestoga Bank Launches Anywhere Deposit Service Powered by 3i Infotech

Customers Can Make Convenient Remote Deposits Right From Their Smartphone

BLUE BELL, PA--(Marketwire - Apr 19, 2011) - Conestoga Bank, a full-service community bank with branches throughout southeastern Pennsylvania, announced that as of today it will offer its customers the ability to deposit business and private checks remotely from their smartphones, with the help of software and services from its partner 3i Infotech. Called Anywhere Deposit, this service provides all the convenience of making a deposit from anywhere with the safety and security of in-branch or ATM deposits.

Anywhere Deposit is based on 3i Infotech's Mobile Check Deposit solution, which is hosted and operated by 3i Infotech. It is designed to save resources and money for both Conestoga and its customers. Once a Conestoga Bank customer photographs a check and submits it via his or her mobile device, 3i Infotech validates the images to comply with Federal regulations and processes the deposit using the same protocols as an in-person deposit. For security purposes, no images or data are stored on the customer's phone, there is a complete audit trail for every deposit and all images are sent using 128-bit encryption. All major smartphones, including iPhones, BlackBerrys and Android devices are supported and most deposits clear in about one hour.

"Our customers are some of the first in the nation to enjoy this level of convenience in depositing checks," explained Lori Adamski, Conestoga's executive vice president and chief operating officer. "When we saw how quickly iPhones and others were redefining what our customers think of as 'easy to use,' we knew that we had to offer a solution that went beyond our branch and ATM systems with a touch and click interface on the customer's mobile device. With our partner, 3i Infotech, we are pleased to roll this out to customers today."

Mobile check deposit is an ideal solution for both consumers and small businesses that do not have the flexibility to get to a branch location. This includes banking customers that travel frequently or do not live or work near a branch. Businesses with field employees that take checks from customers can now allow those employees to instantly deposit those customer payments without giving them open access to the account. This speeds payment and cash flow for small businesses and avoids check losses. Mobile deposit will be integrated closely with Conestoga's other mobile banking solutions rolling out later this year.

"Mobile check deposit provides Conestoga Bank with the opportunity to take the lead in convenience and service," said Jim McShea, chief revenue officer, 3i Infotech, North America. "By choosing to work with our agile Software-as-a-Service delivery model, Conestoga is able provide convenience to their existing customers, while at the same time drive additional deposits and attract new customers."

For more information or to sign up for Conestoga's Anywhere Deposit, visit http://www.conestogabank.com/. Details on 3i Infotech's Mobile Check Deposit solutions can be found at http://rdc.3i-infotech.com/mobile_deposit.html.

About 3i Infotech:

3i Infotech (www.3i-infotech.com) is a global information technology and business process outsourcing (BPO) company which provides technology solutions to customers in more than 50 countries across five continents. The company provides IT services and BPO to markets such as banking, financial services, insurance, government, manufacturing, retail, telecom, education, healthcare and utilities. 3i Infotech is a member of the FinTech 100 and the WorldBlu List of Most Democratic Workplaces.

Disclaimer:
Except for the historical information contained herein, statements in this release, which contain words or phrases such as "will", "would", "expect", "believe", and similar expressions or variations of such expressions may constitute "forward-looking statements". These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of our principal international markets, the performance of the industry sectors in which our clients are based, the performance of the information technology industry sector world-wide, competition, our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of our growth and expansion in business, technological implementation, changes, advancements, and redundancies, the actual demand for software products and services, or the future potential or feasibility thereof, changes in revenue, income or cash flows, our market preferences and our exposure to market risks, as well as other risks. 3i Infotech undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.

About Conestoga Bank
Conestoga Bank is a wholly-owned subsidiary of Conestoga Bancorp headquartered in Chester Springs, Pa. Conestoga Bank is a full-service financial institution, with 14 branches in Center City and South Philadelphia, Bucks, Chester, Delaware, and Montgomery counties. For more information, please visit www.conestogabank.com.

Contact Information

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    Robin Bectel
    New Venture Communications for 3i Infotech
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    Holly Wolf
    Chief Marketing Officer
    Conestoga Bank
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