MINNEAPOLIS--(BUSINESS WIRE)--Aug. 25, 2005--Since its release in
Sept. 2004, U.S. Bank On-Site Electronic Deposit has been implemented
at more than 150 business customer locations nationwide. Launched one
month before Check 21 was enacted, U.S. Bank On-Site Electronic
Deposit was among the first remote capture solutions marketed to
customers that receive customer checks at one or more locations via a
dropbox, mail, or at a walk-up window. As a result, businesses can
save time by making customer check processing more efficient.
U.S. Bank has recently launched a new set of enhancements to its
On-Site Electronic Deposit product. The latest version of the product
gives customers the option to automate check data entry using Courtesy
Amount Recognition (CAR) and Legal Amount Recognition (LAR)
technology, deposit to multiple accounts from a single PC workstation,
and process a full range of transaction types, including transactions
with multiple coupons or other associated documents. Other
enhancements include extensive reporting features, additional deposit
cutoffs, and new equipment and scanner options.
"This new round of product enhancements helps maintain U.S. Bank's
position as an industry leader in Check 21 and check conversion
technology," states Kristine Oberg, vice president and product
development manager for U.S. Bank Treasury Management Services.
U.S. Bank is a subsidiary of U.S. Bancorp (NYSE:USB). With $204
billion in assets, U.S. Bancorp is the 6th largest financial holding
company in the United States. The company operates 2,383 banking
offices and 4,877 ATMs in 24 states, and provides a comprehensive line
of banking, brokerage, insurance, investment, mortgage, trust and
payment services products to consumers, businesses and institutions.
U.S. Bancorp is home of the Five Star Service Guarantee in which the
company pays customers if certain key banking benefits and services
are not met. Visit U.S. Bancorp on the web at usbank.com.
CONTACT: U.S. Bank Media Relations
Amy Frantti, 612-303-0733
SOURCE: U.S. Bank