RDM Corporation Announces Renewal of U.S. Bank Contract to Provide Remote Deposit Capture Services

Toronto Stock Exchange Symbol: RC

WATERLOO, ON, April 1 /CNW/ - DM Corporation (TSX: RC), a leading developer of specialized software and hardware products for electronic payment processing, announced today that U.S. Bank has signed a three year contract renewal to use RDM's ITMS® Remote Deposit Capture (RDC) software.  U.S. Bank is the fifth largest commercial bank in the United States and one of the first banks to offer remote deposit capture to business customers.    

"U.S. Bank has been a fantastic customer and partner to work with over the past seven years and we are very pleased to renew our multi-year agreement," said Randy Fowlie, President and CEO of RDM. "They really understand the payments category and are constantly working collaboratively with RDM to improve and enhance our product offering ensuring we provide industry leading products for the Bank and their customers."

U.S. Bank introduced RDM's enterprise level RDC product for its business customers, branded as On-Site Electronic Deposit, in 2004.  In February of 2010, U.S. Bank introduced RDM's small business RDC product, branded as Deposit Express, to meet the unique needs of small business customers.

"RDM has been a very responsive and reliable partner for U.S. Bank," said Ann Smith, Senior Vice President for Global Treasury Management at U.S. Bank.  "RDM is focused on providing industry leading payment processing solutions that enable the Bank and our customers to more efficiently process check payments electronically, substantially reducing check handling costs and improving cash flow." 

RDM has developed a comprehensive suite of remote deposit capture software solutions which includes the ITMS WebClient for medium to large check volume customers, Simply Deposit for small check volume customers and Synergy Deposit for all-in-one RDC and card-based payments in retail applications. RDM also manufactures a wide range of industry leading digital imaging check scanners including the recently introduced RDM Connect™ duplex, auto-feed scanner.

About RDM Corporation

RDM Corporation is headquartered in Waterloo, Ontario and trades on the Toronto Stock Exchange under the symbol RC. RDM is a leading provider of specialized software and hardware products for electronic payment processing. RDM has pioneered electronic check conversion systems and web based image and transaction management services for banks, retailers, payment processors and government agencies as well as print quality control and image quality systems for a variety of global customers. For more information, visit RDM's website at www.rdmcorp.com

About U.S. Bancorp

U.S. Bancorp (NYSE: USB), with $308 billion in assets as of Dec. 31, 2010, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,069 banking offices in 25 states and 5,310 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.

SOURCE RDM Corporation

For further information:

Mike Murphy   Amy Frantti
Vice President of Marketing and Product Management   U.S. Bank Media Relations
RDM Corporation   U.S. Bank
(703) 451-2656 Office   (612) 303-0733
(519) 746-3317 Fax  
mmurphy@rdmcorp.com    amy.frantti@usbank.com

 


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