SOURCE: Panini


November 08, 2016 09:13 ET

Panini presents RDC at the Payvolution Payments Conference in Milan

The new service is intended to extend the benefits of the new Check Image Truncation process (CIT) to Italian businesses

TORINO, ITALY--(Marketwired - Nov 8, 2016) - In the coming days, Panini S.p.A., a global payments technology leader, will be present at the first edition of "Payvolution - Il Salone dei Pagamenti" Payments Conference, a new initiative of ABI (Italian Banking Association) and ABIServizi, as well as the first Italian conference & expo event dedicated entirely to payment innovation and to the increasingly popular theme of no-cash transactions.

Panini will take part in a round table called Cheques: a matter of image, moderated by Barbara Pelliccione from the ABI Payment Systems and Services Department, and will be present with its own booth to present its Remote Deposit Capture related solution offering.

"With the imminent implementation of legislation on image-based cheque clearing in Italy, we consider the Conference to be a unique opportunity for informing as broad an audience as possible on the benefits of the new process," said Laura Regalia, Panini International Sales Manager. "We look forward to discuss the needs for greater efficiency and savings with banks and their business clients, and to explain how Panini can respond by helping them to radically modernize the management of a payment instrument whose relevance and volumes are still important."

Panini is seizing the opportunity of the Check Image Truncation (CIT) project -- which starting in early 2017 will allow the check's scanned image to legally replace the paper document -- to offer banks the opportunity to outsource their corporate customers' deposit operations by using Remote Deposit Capture. This service, as demonstrated by over a decade of international experience in the United States and elsewhere, offers tangible benefits to both parties as well as to the environment, by eliminating a trip to the bank branch that way too often takes place solely to deposit checks, given that the vast majority of transactions have been available via online banking for quite some time.

On this occasion, Panini will present their complete I:RDC (hardware and software) solution in their booth. I:RDC is primarily a software module which can be integrated into new or existing online corporate banking platforms, which are extended to processing the physical document from the customer's premises in total security. Thanks to I:RDC, checks may be deposited on their bank account online, by using a specialized scanner, and later monitored by larger and smaller companies all the way to completion -- similar to what they do with an online wire transfer or a tax form payment.

The check scanner offered by Panini with the service takes care of all the security elements introduced by the new ABI standard check format (Datamatrix 2D barcode, CMC7 magnetic codeline, micro-perforated data string), using an exclusive patented ultrasound-based system (Italian Patent and Trademarks Office - UIBM TO2013A001058), alongside with the advanced acquisition and decoding technology that have made Panini products successful worldwide.

The Payvolution Payment Conference will be held from 9 to 11 November 2016 at MiCo Milano Congressi, Gate 14. Panini's booth is no. S24.

About Panini
Founded in Turin, Italy, Panini has enabled clients to capitalize on shifts in the global payments processing market for over seventy years. Panini has a rich history of technology innovation, leveraging the company's expertise in research & development. 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 exceeding one million devices. Panini's scalable solutions address the complete range of distributed check processing opportunities including teller capture, back-counter capture, remote deposit capture and remittance processing.

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.

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