SOURCE: Panini

Panini

November 04, 2016 10:00 ET

Panini Patents Revolutionary New "Everest" Architecture

TORINO, ITALY and DAYTON, OH--(Marketwired - Nov 4, 2016) - Panini, a global payments technology leader, officially announced that its Everest solution architecture that integrates computing platforms with check capture, was recently fully patented in the United States. This newly established approach is ground-breaking and further substantiates Panini as a visionary in payments technology.

Panini's Everest unleashes the full power of Panini scanning platforms while dramatically removing the cost and complexity of integration, deployment and support for its customers and partners. Check scanning devices developed with this new technology can be used in different settings and even shared among users, making the move from Branch Image Capture (BIC) to Teller Image Capture (TIC) more attractive to financial institutions and aligning with the "bank of the future" trend of empowering roaming universal bankers in an open lobby environment. Not only will Everest offer more solution options for bank branches, but it will make Remote Deposit Capture (RDC) applications more flexible and easier to deploy and support: new devices like Panini's EverneXt™ (up to 160 documents per minute) and mI:Deal™ (single feed) can easily be operated by a smart phone, tablet, or computer, with no need to download an API and keep it up-to-date over time.

The Everest technology integrated into Panini scanning platforms enables the capture devices to be connected to any computing platform (such as tablets, PCs, smartphones, and POS terminals) via a choice of wired or wireless interfaces (Wi-Fi, Ethernet, USB), while replacing the traditional complexity of integration via API (application programming interface) with a state-of-the-art, secure HTTPS communications protocol. This architecture is the next decisive step in the evolution of Panini platforms designed to write the next chapter of paper-based payments dematerialization.

"Panini's Everest-enabled intelligent scanning platforms open new possibilities for our customers and partners including on-board applications, shared devices, and untethered operation", said Michael Pratt, Chief Executive Officer at Panini.

On October 4, 2016, the United States Patent and Trademark Office (USPTO) assigned Patent number 9,460,427 to the Everest technology, which builds on decades of Panini's experience as a global leader in payments capture and displays yet another differentiator in the market. Panini thus continues to prove they operate as a dynamic and innovative organization delivering breakthrough, game-changing solutions.

About Panini

Founded in Turin, Italy, Panini has enabled clients to capitalize on shifts in the global payments processing market for more than seventy years. Panini has a rich history of technology innovation, leveraging the company's expertise in research & development. Panini's market leading solutions are based on state-of-the-art engineering resources and ISO-9001 quality certified production. Panini offers check capture solutions that enable customers to fully realize the advantages and efficiencies available with the digital transformation of the paper check, resulting in the world's largest deployed base of check capture systems, now approaching one million devices. Panini's scalable check capture solutions address the complete range of distributed check processing opportunities including teller capture, back-counter capture, remote deposit capture, remittance processing and point-of-sale capture. The company provides solutions on a global basis, and has direct subsidiary operations in the United States covering North America and in Brazil covering Latin American markets. For more information visit: www.panini.com.