CheckAlt RDC Platform Together With TIS Mobile Capture Software Offer Valuable Payment and Deposit Processing Solutions for Banks, Credit Unions and Merchants
NEW YORK, June 25, 2012 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (Nasdaq:TISA), a leading ECM (Enterprise Content Management) intelligent content capture and delivery solutions provider, today announced that it has commenced check processing with CheckAlt, a key provider of check 21/remote deposit and e-check processing in the US. The engagement with CheckAlt has been set up to offer TIS' Mobile Capture solutions, and primarily MobiCHECK, the TIS remote check deposit system, to financial institutions and their customers in the US.
TIS applies its deep technological knowledge in the area of ECM, parsing and processing content to the expanding range of smart mobile user devices. Today, the company provides solutions for capturing and processing content using smartphones and tablets. TIS recently announced the opening of its North American Headquarters in New York City to be closer to its client base and expand its US operations.
Commenting on the new partnership, Omri Gelb, EVP and GM of TIS North America, remarked, "In 2012, Top Image's focus is on generating new business with our mobile solutions for banking and financial institutions in the US and Canada. Our relationship with CheckAlt is consistent with our strategy to significantly augment the company's US business. We are very pleased to have passed CheckAlt's rigorous testing and to demonstrate our ability to deploy in record time."
"We have seen a significant increase in demand for mobile and e-check processing solutions in the US market, with an emphasis on remote deposit from mobile devices," commented Shai Stern, CEO and Co-Chairman at CheckAlt. "In order to meet this demand, we have partnered with Top Image Systems. Their unique solution, which includes recognition and processing capabilities on the mobile devices themselves, will provide us and our customers with a valuable differentiator. We were pleasantly surprised by their next-generation mobile capabilities, which bring user experience to new heights and add significant improvements over current market processing capabilities."
CheckAlt is among the USA's premier providers of check 21/rdc and electronic check transaction processing, meeting the exacting needs of businesses and financial institutions. Checkalt is a NAFCU Preferred Partner offering a suite of check 21/rdc applications to credit unions. CheckAlt's unique partnership strategy, its in-depth industry knowledge, and innovative processing solutions assist its clients in bringing additional revenue through a value added network of affiliated CheckAlt clients. In addition, CheckAlt enables its clients to reduce associated costs in transaction processing over the internet. Checkalt's clients include banks, credit unions, check cashers (money service businesses), insurance companies, municipalities, utilities, small and medium- sized enterprises.
About Top Image Systems
Top Image Systems™ (TIS™) Ltd. is a leading innovator of enterprise solutions for managing and validating content entering organizations from various sources. Whether originating from mobile, electronic, paper or other sources, TIS solutions deliver content across enterprise applications. TIS' eFLOW Platform is a common platform for the company's solutions which is marketed in more than 40 countries through a multi-tier network of distributors, system integrators, value-added resellers and strategic partners. Visit the company's website at http://www.TopImageSystems.com for more information.
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Caution Concerning Forward-Looking Statements
Certain matters discussed in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results expressed or implied in those forward looking statements. Words such as "will," "expects,", "anticipates," "estimates," and words and terms of similar substance in connection with any discussion of future operating or financial performance identify forward-looking statements. These statements are based on management's current expectations or beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially including, but not limited to, risks in product development, approval and introduction plans and schedules, rapid technological change, customer acceptance of new products, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of TIS and its competitors, risk of operations in Israel, government regulation, litigation, general economic conditions and other risk factors detailed in the Company's most recent annual report on Form 20-F and other subsequent filings with the United States Securities and Exchange Commission. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
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