Frost Bank Customers Deposit Checks Online, Anytime with Remote Deposit
Check Partner TransCentra
Increased convenience, improved cash flow cements existing customer
relationships, attracts new ones
NORCROSS, Ga. -- December 12, 2012
Customers of one of Texas’ largest banks, Frost Bank, are now able to deposit
any check or money order remotely from any location, not just a branch or ATM.
This service is offered through the bank’s Digital Services for personal and
business customers and is driven by eCapture, a browser-based remote deposit
capture solution, from TransCentra, a leading provider of billing and payment
software and services.
“Banking today must be easy, fast and secure,” explained Bobby Berman, group
executive vice president of Frost Bank. “The traditional constraints of branch
hours and locations have been eliminated in order to best serve our customers.
That is why we offer to both our personal and business customers the many
benefits of remote deposit capture. Our customers responded so positively that
we exceeded in just one quarter our entire annual projection for signups.”
TransCentra’s eCapture product was initially integrated with Frost’s existing
technology infrastructure in October 2011 and offered to customers on a
limited basis. The deposit of personal, business, traveler’s, cashier and U.S.
Treasury checks as well as money orders is now available to all of the bank’s
Digital Services customers, reaching nearly three-fourths of the bank’s
individual customers and more than half of its business customers. The bank
expects to offer mobile remote deposit capture in the next year.
“Remote deposit capture is quickly becoming table stakes for financial
institutions as a means to both attract new customers and retain existing
ones,” says Lynn Boggs, chief executive officer of TransCentra. “As customers
look for multiple ways to interact with financial institutions when and where
they want, we will continue to provide those avenues to strengthen valuable
customer interactions, whether through RDC, mobile, or app.”
By using a standard TWAIN-compatible scanner, customers can make deposits
online simply by selecting the appropriate account, entering the deposit
amount and scanning the front and back of the check. Once submitted, eCapture
validates the images for Check 21 compliance and processes the information
through TransCentra’s workflow, risk management and clearing modules for
business rules application, compliance and clearing purposes. These business
rules, such as exception management and fraud monitoring, can easily be
customized by the financial institution.
TransCentra ensures security through a complete audit trail for the
transaction and does not store any information on the customer’s browser. The
entire transaction is subject to 128-bit encryption.
Frost is the banking, investments and insurance subsidiary of Cullen/Frost
Bankers, Inc. (NYSE: CFR), a financial holding company with $21.8 billion in
assets at September 30, 2012. One of 24 banks included in the KBW Bank Index
and a top-50 U.S. bank by asset size, Frost provides a full range of business
and consumer banking products, investment and brokerage services, insurance
products and investment banking services to businesses and individuals in the
Austin, Corpus Christi, Dallas, Fort Worth, Houston, Rio Grande Valley and San
Antonio regions. Founded in 1868, Frost has helped Texans with their financial
needs during three centuries. For more information, visit www.frostbank.com.
Norcross, Ga.-based TransCentra is America’s largest outsourced remittance
processor, one of the largest outsourced billers and a top provider of imaging
and payment processing platforms and software. An industry leader in
innovative multichannel billing and payment solutions, TransCentra is trusted
by many of the largest and most recognized names in both the consumer and
business-to-business markets across a variety of industries, including
financial services, insurance, healthcare, utilities and telecommunications.
For more information, visit www.transcentra.com.
Elizabeth McMillan, APR
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