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News Release
Contact:
Allison Hagan
Vice President, Public Relations
Thomson Financial
(646) 822-2076
allison.hagan@thomson.com
Jana Waughn
President
RemitPro
(402) 861-0005
jwaughn@remitpro.com
Thomson Financial Signs Agreement with RemitPro to Provide Real Time Back-Office Integrated Check Imaging Solution for its BETA Systems Customers
RemitPro’s Check21 Solution Consolidates Bank Deposits, Improves Funds Availability and Streamlines Check Deposit Workflow.
NEW YORK, NY, December 6, 2005 – Thomson Financial, an operating unit of The Thomson Corporation (NYSE: TOC, TSX: TOC) and leading provider of information and technology solutions to the worldwide financial community, today announced that it has selected RemitPro as a partner to provide its brokerage clients a real-time, back-office integrated check imaging solution that will shorten the processing time for incoming cash receipts and allow brokerages to consolidate banking operations.
.According to the agreement, Thomson BETA Systems can now provide a single point of entry check scanning solution that allows firms to accelerate access to deposited funds by transmitting Check 21 images to the client’s bank resulting in increased operational efficiency and improved operating margin.
“Our relationship with RemitPro is another example of how Thomson BETA Systems is enhancing client value and workflow through strategic relationships,” said Chris Maloney, Managing Director, Thomson BETA Systems. “This Check21 solution allows Thomson BETA customers to take advantage of faster settlement of funds, thus improving their overall performance.”
Jana Waughn, President, RemitPro added, “Integrating eRemitPro into BETA Systems is a very efficient way to quickly convert a paper check into a bank deposit. We are excited to be working with Thomson BETA Systems to provide an end-to-end solution for its customers.”
The Check 21 electronic deposit system allows users to make deposits by sending a standardized check image file to the bank of their choice. 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 Thomson BETA Systems
Thomson BETA Systems operates within the Thomson Financial group of businesses and is one of the largest securities processing firms in the U.S. Headquartered in Brookfield, Wisconsin, with over 600 staff and offices in New York, San Francisco, London and Hong Kong, Thomson BETA Systems provides its customers with the tools they need to succeed in the ever-evolving brokerage industry. For more information on Thomson BETA Systems, visit www.betasys.com
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 their web site at www.remitpro.com.
About Thomson Financial
Thomson Financial is a US$1.73 billion provider of information and technology solutions to the worldwide financial community. Through the widest range of products and services in the industry, Thomson Financial helps clients in more than 70 countries make better decisions, be more productive and achieve superior results. Thomson Financial is part of The Thomson Corporation (www.thomson.com), a global leader in providing integrated information solutions to more than 20 million business and professional customers in the fields of law, tax, accounting, financial services, higher education, reference information, corporate e-learning and assessment, scientific research and healthcare. With revenues of US$8.10 billion, The Thomson Corporation lists its common shares on the New York and Toronto stock exchanges (NYSE: TOC; TSX: TOC.)
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