Provides FTNI full use of Image Capture Technology across all FTNI platforms including recently acquired RemitPro platforms.
OMAHA, NE. – January 8, 2013 – Financial Transmission Network Inc. (“FTNI”), a provider of industry leading receivables management solutions, today announced a license agreement with Data Treasury providing FTNI full access to DataTreasury Corporation’s patents for image capture. The license will allow FTNI to continue with its aggressive growth and ensure there are no barriers to bringing its award-winning ETran and eRemitPro platforms to its chosen markets.
FTNI’s award-winning ETran platform incorporates check scanning, ACH origination, credit card processing, cash posting and web payments, on a single, PCI-compliant managed platform (“cloud based”) to help clients reduce costs, accelerate timelines and improve transaction processing quality. The Company’s Administration Module and Proactive Payment Monitor allow its clients greater flexibility in customizing the solution for their industry while maintaining strong controls for risk monitoring.
The technology, covered by U.S. Patent Nos. 5,910,988 and 6,032,137, issued to DataTreasury in 1999 and 2000, centralizes processing and electronic storage of document and check information. DataTreasury has aggressively protected its patents against banks and financial services companies in recent years, having recently won a judgment against financial institutions and processors of varying size.
“Our family of licensees is comprised of the best and brightest in the payments industry and we are proud to add FTNI to this list,” said Keith DeLucia, chief executive officer of DataTreasury. “We look forward to working closely with FTNI as it continues to add new functionality to its innovative solution and grow its customer base.”
Kurt Matis, President of FTNI, commented, “As we continue to expand our customer base with high volume check processing clients in the financial services, insurance and non-profit industries, among others, we want to ensure that we can provide them an industry leading solution without concern for technology ownership. Incorporating the Data Treasury license into our ETran and eRemitPro platforms will not only help ensure our clients a world-class platform, but also provide them peace of mind.”
Financial Transmission Network, Inc.’s (FTNI) ETran and eRemitPro platforms incorporates remote deposit capture (check scanning), ACH, credit card and cash processing on single, managed platform to help clients reduce costs, accelerate timelines and improve transaction processing quality. The Company’s software enables customers to setup recurring payments (ACH & credit card), allow for full web payment capabilities including invoice presentment and payment as well as integration into back offices systems, thereby reflecting the payment activity in the merchant’s A/R system. This technology offers merchants a turn-key, single-payment platform in a software-as-a-service (“SaaS”) environment that is fully PCI-compliant, thereby eliminating the hardware and software costs associated with traditional solutions. Due to its modular approach and easy deployment, the ETran platform can be deployed in a variety of verticals and customized easily to fit the end-users needs. For further information on FTNI, please visit www.ftni.com.
A privately owned company, DataTreasury was formed in 1998 and is built around a patent portfolio, which includes patents covering its Global Repository Platform, a functional and secure informational management system. For further information on DataTreasury, please visit www.datatreasury.com.
VP Client Relations