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News Release
Contact:
Jana Waughn
RemitPro LLC
3738 S. 149th Street, Suite 102
Omaha, NE 68144
402.861.0005 x 103
Stifel Nicolaus selects RemitPro for Check21 desktop processing.
OMAHA, NE, April 29, 2005 – RemitPro LLC, a leading provider of treasury management and risk management solutions to the securities industry, today announced that Stifel Nicolaus has implemented eRemitPro, a Check21 application for processing incoming cash receipts. Stifel Nicolaus has deployed the solution in their home office and plans to deploy it to most of their branch offices over the course of the next several months.
Check21 processing allows Stifel Nicolaus to take advantage of faster settlement of funds. “We are excited to be able to process checks in an electronic environment,” said Curt Stalter, Vice President of Treasury Management at Stifel Nicolaus. “We evaluated several solutions and determined that RemitPro’s application is a very powerful, flexible tool that will deliver efficiencies to our operation. Stifel Nicolaus has enjoyed a long relationship with U.S. Bank, and so we are pleased to be able to build upon that relationship by sending our deposits to them utilizing the Check21 settlement mechanism.”
“We are excited to have Stifel Nicolaus as an early adopter of Check21 technology,” said Jana Waughn, President of RemitPro. “The RemitPro’s solution is highly configurable, thus we can design the application and the method of settlement to suit the needs of each client. Through the use of our application and Web-based reports, our solution is easy to use, quick to deploy, and requires very little IT support, which we believe is a winning combination for our clients.”
The electronic deposit system allows users with their own scanning equipment to make deposits by sending a standardized file to the bank. RemitPro provides the desktop application and scanner and creates an Image Cash Letter for settlement in accordance with the Check Clearing for the 21st Century Act (Check 21). This Act allows for printed versions of scanned paper checks to act as legal substitutes, speeding up the clearing process and ending trips to the bank to deposit checks.
About RemitPro
RemitPro is a technology provider and service bureau that provides treasury management and risk management solutions to the securities industry. RemitPro offers Check21 and ACH solutions to facilitate cash receipt processing. RemitPro also offers comprehensive risk management for USA PATRIOT Act Compliance including Know Your Customer Identity Validation and Global Watch List Screening. For more information about RemitPro, please visit our web site at www.remitpro.com or call us at 1-877-861-0005.
About Stifel Nicolaus
Stifel, Nicolaus & Company, Incorporated, a regional, full-service brokerage and investment banking firm founded in 1890 and headquartered in St. Louis, Missouri, operates 88 offices in 17 states, mostly in the central United States. A full range of investments, including stocks, corporate and municipal bonds, mutual funds, annuities, insurance, options, and managed assets accounts are available through the firm. Stifel Nicolaus is the largest subsidiary of Stifel Financial Corp. and is a member of SIPC and listed on the New York Stock Exchange. To learn more about Stifel, please visit the company’s web site at www.stifel.com.
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