transmodus and Check Site Partner for Check 21 Automation

transmodus, the technology leader in on-demand automation of returned item collections, announced today it has entered into an agreement with Check Site, a leading Check 21 Solutions Provider. Under the terms of the agreement the companies will collectively offer banks and their merchant clients an online service for proof of deposit, along with automated reporting and collections of the associated returned items in a manner that represents a new level of process efficiency.

Check Site utilizes patented systems designed to eliminate the concerns many banks have related to the cost and risk management of automating the proof of deposit process. The company was started in 2001 by eFunds founder Neil Godfrey and is currently processing for banks and private clients.

?The addition of the transmodus technology to deliver proven, automated solutions for the posting and collection of returned items puts us in the unique position of being able to offer our banking and private clients massive cost reductions through process automation. In short, the quality of the service is improved, yet the cost is reduced. We are seeing a significant interest for this service and we are taking the steps to accommodate demand,? according to Neil Godfrey, CEO of Check Site.

Scanners placed at the bank or client location provide the means to transmit deposits to Check Site. Unlike other remote deposit systems that require the sender to input data to correct scanning errors, the Check Site client is only required to scan the items. The Check Site system includes a process to assure 100% accuracy before the proof of deposit is provided back to the bank. The quality of scanning, along with patented processing risk management and quality assurance systems, removes any labor burden from the bank or client. The systems are fast and accurate to accommodate the bank same-day processing schedule.

Returned items are captured by Check Site and channeled in high-quality data and image files to transmodus for posting and client access to leverage immediate re-presentment and collections process automation. The transmodus service is offered to bank clients as a free service with any fees paid by the person responsible for the returned item. Clients opting not to use the transmodus recovery service may download the image files of their returned items at no charge.

“We are very pleased to be working with Check Site and we look forward to providing its banking and merchant clients the automation to remedy their returned items in the most efficient manner. For the first time, the joining of these two technology platforms in an automated rule-based solution will enable banks and merchants to realize the potential of Check21,” says Jay McShirley, CEO of transmodus. The combined service is expected to be available in the fourth quarter of 2006.