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ALLIANCE BANK OFFERS MERCHANT CHECK CAPTURE SERVICE TO CLIENTS
Merchant Capture allows business clients to deposit checks
from their offices
St. Paul, MN - (Market Wire) - March 21, 2007 - Alliance Bank,
a privately owned community bank with over $550
million in assets, announced today the launch
of Merchant Capture services for their business clients.
Using a computer, state-of-the-art software and a multi-feed scanner, clients can scan the
front and back of checks to convert them into an image replacement document (IRD), and
transmit their deposits securely through the Internet. Within seconds of transmitting data
and images, an email is sent back to confirm receipt of the deposit items and deposit total.
Benefits include expedited funds availability and increased efficiency.
Alliance Bank clients using this new service have seen improved cash flow due to the extended
deposit cut-off time for same-day processing. In addition, their businesses run more smoothly
without the daily interruption of driving to the bank to make their deposits.
In a recent survey conducted jointly by the ABA Banking Journal and ABA’s Community Bankers
Council, only 16% of community banks now offer this service. According to the survey,
industries using merchant capture services include professionals (74%), service firms (55%),
contractors (38%) and retailers and municipal governments (25% each).
"As a community bank with a heavy focus on business and private banking, we strive to offer the
latest technology solutions," said V. Philip Reim, chief executive officer. "With a
large number of our clients in the type of industries that benefit from Merchant Capture, Alliance
Bank made it a top priority to provide this service. Our clients now have the flexibility to make
deposits remotely into more than one account, and from multiple business locations. Merchant
Capture is a natural extension of our current array of cash management services designed to
help our clients better manage their working capital."
About Alliance Bank
Alliance Bank is a privately owned community
bank with assets in excess of $550 million. Alliance Bank provides highly
integrated commercial, agricultural, private and personal banking services
in nine locations throughout Minnesota and Wisconsin. Established in
1867, Alliance Bank delivers big bank expertise with community bank
service. As a family-owned bank, Alliance Bank is committed to remaining
independent and providing personal interaction and timely decision making.
From basic checking and savings products, to business loans, personal
loans, sophisticated cash management and online banking services, Alliance
Bank offers services to help companies and individuals succeed.