transmodus Collections Automation Improves Remote Deposit

transmodus, the technology leader in on-demand check processing and collections automation, announced today the offering of a simple and effective method to add the option of automated primary and secondary collections to banks and processing partners who are already marketing, or plan to market, a remote deposit product. Beyond the advantages of incorporating collection automation to more efficiently handle returns, this new service option provides clients with a compelling reason to select and deploy a remote deposit product: faster equipment payback. This faster payback comes from a lower cost of collections that result in more of the collected funds being returned to the client.

The transmodus platform takes the transactions directly from the Check 21 return file via secure ftp or https and systemically moves them through a complete collections process that includes automation of NSF and non-NSF items. The total process is delivered as an on-demand banking solution and provides secure login for users to view and download reports or to access interactive customer service tools to provide real-time customer service whenever required. If desired, the service may be private labeled by financial institutions and processing partners.

“As a transmodus client for the past couple of years, I think their automated processing of remote deposit returns is a natural evolution. Using their systems has given us real-time access to details on all returned checks through a single interface which will enable us to promptly assist customers with questions about account status and payments,” says Brian Boone of Dobson Communications. Banks and processors interested in adding on-demand automated collections to their remote deposit product offerings should contact the company by email at partner@transmodus.net/

“The advent of remote deposit presents a golden opportunity to deliver a new level of returned item processing that addresses all returns and takes them all the way through the primary and secondary collection process to write-off. Our processing platform has been proven by a national client base over the past four years to deliver efficiency improvements in a highly scalable processing environment,” according to Richard McShirley, CMO of transmodus.