SOURCE: RemitPro, Inc.

August 23, 2007 09:30 ET

RemitPro, Vanco Services Join Forces to Help Companies Benefit From Check21 and Remote Deposit Capture

OMAHA, NE--(Marketwire - August 23, 2007) - RemitPro, Inc. and Vanco Services, LLC today announced an agreement under which mutual customers will use RemitPro's eRemitPro® software to capture check images and data, which will then be sent to Vanco for processing and settlement. Once transactions are processed, Vanco will forward the money via an ACH transaction to the client's depository bank account. RemitPro will handle sales, marketing and business relationships for the bundled solution.

"The combined software and services RemitPro and Vanco Services provides for Remote Deposit Capture and Check21 are unprecedented in the marketplace," said Jana Waughn, CEO of RemitPro. "Our relationship with Vanco enables our mutual customers to settle with any bank in the country. Firms of all sizes can now enjoy the advantages of the RemitPro Remote Deposit Capture solution regardless of whether their bank has an existing relationship with RemitPro."

"Our partnership offers a unique combination of innovative software and electronic payment processing," said Jeanne Spencer Rose, President and Chief Manager, Vanco Services. "We're excited to merge the expertise of two leaders in their respective industries to bring Check 21 and Remote Deposit Capture to more companies across the country."

The RemitPro software enables businesses to save time in making deposits and cash management. Businesses using RemitPro scan checks in their accounting operation and make an electronic deposit, rather than going to the bank to deposit the items, reducing settlement time by a couple of days. This accelerates access to capital and allows companies to streamline operations.

RemitPro saves time in cash management and accounting by managing the deposit, the reconciliation process, workflow, reports and interface with the company's back-end accounting system. RemitPro's software allows businesses to post a single payement to multiple accounts and enables businesses to consolidate their banking relationships thus providing a mechanism to reduce banking fees. By interfacing with the company's accounting system, re-keying information is eliminated, and inherent human error is mitigated. This interface also facilitates data mining and compliance with business rules.

About RemitPro, Inc.

RemitPro (www.remitpro.com) offers Remote Deposit Capture, Check21 and ACH solutions to facilitate cash receipt processing.

About Vanco Services

Vanco Services, LLC (www.VancoServices.com) is a financial technology services company specializing in electronic payment solutions and providing secure and reliable processing for both recurring and one-time transactions.

Contact Information

  • For further information contact:
    Meir Kahtan
    +1-212-699-6065
    Meir Kahtan Public Relations, LLC
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