UMB Financial partners with RDM Corporation to offer RDC products to its customer base
Toronto Stock Exchange Symbol: RC
WATERLOO, ON, March 15 /CNW/ - RDM Corporation (TSX: RC), a leading developer of specialized software and hardware products for electronic payment processing, announced today that it has signed a multi-year agreement with UMB Financial Corporation (NASDAQ: UMBF). UMB will utilize RDM's suite of Remote Deposit Capture products to provide its customers with the RDC product solutions they require. Ranked among the top 100 US banks by assets, UMB Financial was recently named the best bank in the continental United States (second-best bank in the nation) by Forbes in a study in conjunction with SNL Financial(1).
"We are extremely excited to be working with UMB to assist them in providing an RDC solution to match their customer needs," stated Douglas Newman, President and CEO for RDM Corporation. "With RDM's broad suite of RDC products, UMB will be able to provide their customers with the optimal RDC solution based on their specific requirements. We look forward to working with UMB and also admire and share UMB's long-standing tradition of integrity and steadfast commitment to customer relationships."
RDM has developed a comprehensive suite of RDC software products which includes the ITMS(R) WebClient for medium to large check volume customers, Simply Deposit for small check volume customers, Synergy Deposit for all-in-one RDC and card-based payments in retail applications, and Simply Deposit Mobile intended for mobile deposit applications. RDM also manufactures a wide range of industry leading single-feed digital imaging check scanners including the EC6000i(R) single-sided scanner series, the EC7000i(R) dual-sided scanner series, the RDM SYNERGY II all-in-one payment terminal able to handle all non-cash payments and the recently introduced EC7500i(TM) line of value scanners.
"We were very impressed with the breadth of products, industry expertise, and experience that RDM currently offers for differing Remote Deposit Capture applications," stated Jim Rundberg, Executive Vice President for UMB Financial. "RDM also has an impressive record with regards to system uptime availability, customer service support as well as safeguarding user data. We look forward to working with RDM in the future."
RDM's systems have been designed to safeguard user data. In addition, RDM engages trusted 3rd parties to conduct regular audits, vulnerability scanning and penetration testing to ensure that the network, applications and processes surpass the stringent standards imposed for SAS 70 certification. The ITMS Platform currently processes over a 3.6 million items on average every week.
UMB Financial Corporation (NASDAQ: UMBF) is a financial services holding company headquartered in Kansas City, Mo., offering complete banking, asset management, health spending solutions and related financial services to commercial, institutional and personal customers nationwide. Its banking subsidiaries own and operate 135 banking centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. Subsidiaries of the holding company and the lead bank, UMB Bank, n.a., include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment advisor that manages the company's proprietary mutual funds and investment advisory accounts for institutional customers. For more information, visit umb.com or follow us on Twitter at @UMBFinancial
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.
(1) UMB was ranked the best bank in the continental United States
(second-best bank in the nation) by "Forbes" in a study in conjunction
with SNL Financial. The study looked at eight financial measures* that
gauge asset quality, capital adequacy and profitability. The size of the
banks ranged from $5.2 billion to $2.3 trillion in assets.
SOURCE RDM Corporation
For further information: For further information: Michael Murphy, Vice President of Marketing, RDM Corporation, (703) 451-2656 Phone, (519) 746-3317 fax, email@example.com; James Merwin, CFO & Vice President, Corporate Development, RDM Corporation, (519) 746-8483 x284 Phone, (519) 746-3317 fax, firstname.lastname@example.org