New enhancements assist banks in complying with the Federal Financial Institutions Examination Council (FFIEC) guidance on risk management of Remote Deposit Capture (RDC)
Toronto Stock Exchange Symbol: RC
WATERLOO, ON, July 8 /CNW/ - RDM Corporation (TSX: RC), a leading developer of specialized software and hardware products for electronic payment processing, announced today that it has introduced new FFIEC compliance tools in its ITMS(R) suite of RDC software products. Responding to the new FFIEC Guidance regarding RDC, RDM enhanced existing capabilities and created new functionality to assist customers with compliance. This new offering provides financial institutions with a set of tools specifically designed to help them comply with the FFIEC guidelines with respect to RDC. These improvements to security and risk mitigation include enhanced security authentication, a comprehensive reporting suite, an easy to use limits and monitoring module as well as check endorsement capability.
"We understand the increasing pressure which financial institutions are facing to adhere to the guidance," said Douglas Newman, President & CEO, RDM Corporation. "RDM's ITMS suite of RDC products makes it easy for banks to better understand customers, monitor their activity and identify exceptions."
RDM has developed a comprehensive suite of remote deposit capture software products which includes the ITMS WebClient for medium to large check volume customers, Simply Deposit(R) for small check volume customers, Synergy Deposit for all-in-one RDC and card-based payments in retail applications, and Simply Deposit Mobile(TM) intended for mobile deposit applications. RDM also manufactures a wide range of industry leading single-feed digital imaging check scanners including the single-sided EC6000i(R) scanner series, the dual-sided EC7000i(R) series, the dual-sided EC7500i(TM) series of value scanners, the RDM SYNERGY II all-in-one payment terminal able to handle all non-cash payments and the recently introduced RDM Connect(TM) duplex, auto-feed scanner.
The Federal Financial Institutions Examination Council was established by Congress in 1979 to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions, to make recommendations to promote uniformity in the supervision of financial institutions, and to conduct schools for examiners. Visit the Council's website for press releases and information on the mission and work of the Council at www.ffiec.gov.
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 and 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 further information, visit RDM's website at www.rdmcorp.com.
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