Merchants Bank, Winona, MN selects DataTrade's Merchant Capture for its Remote Deposit Software.
January 15, 2007
Springfield, MO - DataTrade, a banking application software company, announced that Merchants Bank N.A. of Winona, MN has selected DataTrade's Merchant Capture for its remote deposit capture solution.
In its search for a vendor, Merchants Bank had a several key requirements that the remote deposit software system needed to satisfy. Sue Savat, senior vice president of finance/operations, said they were looking for these key items in the solution: ease of use for their customers, the ability to meet the needs of the bank's large range of customers (small community businesses to large Fortune 1000 customers), a flexible system for future changes and enhancements and a vendor to provide the type of customer support needed to make it a fantastic new service. "We feel that Merchant Capture from DataTrade is the solution that will meet all of these requirements," she said.
Another major contributing factor in the decision process was the fact that DataTrade's financial software licensing model does not include on-going item processing fees. Scott Russell, vice president of sales at DataTrade, commented that "reasonable license fees are paid up-front, so costs are easy to budget, and the bank is not penalized for any growth it experiences. This provides the bank the means to generate service fee income without incremental costs."
With regard to back office operations, the fact that the remote deposit consolidation server was resident in the bank's back office was another positive factor in the decision process. The Merchant Capture system generates an X.9 formatted file that feeds directly into the bank's Harland check processing system. "With the solution installed in our operations center, we have a high level of control, and we have no third party touching sensitive information," said Savat.
DataTrade is pleased they were able to satisfy the needs of Merchants Bank with Merchant Capture remote deposit software solution. As DataTrade's business continues to grow, the company seeks out new ways to meet the needs of businesses nationwide by developing innovative software and technology solutions that automate financial processes.
About Merchants Bank:
Established in 1875, Merchants Bank, NA is part of Merchants Financial Group which has more than $700M in assets and 14 banking locations in Southeast Minnesota and Western Wisconsin. The Merchants organization has been owned and managed by the families of this area throughout its history. Local ownership and local decision-making differentiate Merchants from most banking organizations. Small business expertise has been the strength of the organization and growth in this area is a strategic focus.
For additional information contact Sue Savat, Senior Vice President – Finance/Operations 507-457-1135.
About DataTrade
DataTrade, LLC, develops innovative software and technology solutions for automating financial processes. Since 1990, the company has earned the trust and loyalty of more than 1,000 clients worldwide ranging from community banks to Fortune 100 companies. The company's proprietary software solutions serve the financial services, general business, not-for-profit, governmental and other industries where automated financial processing is needed. DataTrade's products include solutions for: automated check processing, remote deposit capture, remittance/lockbox processing, voice and speech response, Internet banking and document/report management. With a history in digital-to-digital conversion, DataTrade also specializes in providing document, check, statement, report and data image conversion and migration services.
For more information, please contact: Scott Russell, Goldleaf Financial Solutions, Inc.: 3653 South Avenue, Springfield, MO 65807; phone 417-882-1576 or 800-450-3502; fax 417-882-8423; www.datatrade.com.
Media Contact
Delia Croessmann
417-882-1576, ext. 37
delia.croessmann@goldleaf.com