Myriad Systems, Inc., an advanced developer and provider of transaction, document and item processing technology today unveiled MSI Remote Deposit today; a paperless, web-enabled merchant capture solution that allows customers to scan checks and other financial document and transmit the digital images directly to financial institutions for posting and clearing.

"Financial institutions are racing to be a part of the revolution brought on by Check 21. MSI's Remote Deposit is out in front of the pack with an entirely web-enabled merchant capture product that integrates seamlessly with MSI's suite of Check 21 products," said Shaun Riney, MSI president. "Financial institutions today are very geographically dependent, operating city to city or region to region," continued Riney. "The Internet allows those institutions to be geographically independent, and MSI is seizing the benefits of this new independence, opening new markets and new customers for our clients with a web-based suite of products that take away geographic constraints truly opening a global market."

MSI Remote Deposit means better deposit availability and reduced transportation costs and risks. The web-enabled characteristic of this solution increases the speed and demographic reach of the financial institution while making item processing more convenient for the end user.

MSI's solution is scaleable to financial institutions large or small and all scanner sizes as well. Remote Deposit is also IP Independent, as it can work along side a company's current IP system without a massive conversion process.

"MSI Remote Deposit improves cash flow, increases revenue and lowers costs through improved operational efficiencies gained by eliminating traditional, cumbersome paper transactions," continued Riney. "MSI offers on-line training for all of our products, to help clients get their systems moving faster and more efficiently."

MSI's unique graphic design division can help customers customize their presentation with their logos and artwork to better reflect the individual company's business style.

MSI announced MSI Remote Deposit at the annual BAI Transpay Conference and Expo in Las Vegas. The BAI Transaction Conference is a major platform for the transaction and payment industry, attracting hundreds of the nation's top solution providers.

Check 21 refers to the Check Clearing for the 21st Century Act approved by Congress in October 2004, allowing financial institutions to clear checks based upon digital images of the original item rather than requiring the institution to present a paper item.

ABOUT MSI

Myriad Systems, Inc., is a developer and provider of transaction, document and statement processing and mailing distribution services and software.

MSI provides web-based solutions, imaging and data archive, electronic statement presentation, print and mailing -- and our web-enabled Check 21 suite of products.

Source: prnewswire