MINNEAPOLIS--(BUSINESS WIRE)--Dec. 12, 2005--U.S. Bank business
customers have processed more than one million transactions through
the bank's remote deposit solution known as U.S. Bank On-Site
Electronic Deposit. To date, more than 200 locations use U.S. Bank's
On-Site Electronic Deposit to electronically deposit customer checks
to the bank from their computers instead of having to make a trip to
the bank or sending them through the mail.
"Reaching this milestone solidifies 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.
Launched in September 2004, U.S. Bank On-Site Electronic Deposit
was among the first remote capture solutions marketed to commercial
customers that receive checks at one or more locations via a dropbox,
the mail, or at a walk-up window. U.S. Bank supplies check scanning
machines and software to its commercial customers, enabling them to
electronically deposit checks when accepting payments. The checks are
scanned on-site by the biller and are then electronically transmitted
to U.S. Bank for deposit into their account.
A new set of quality enhancements were recently added to give U.S.
Bank business customers the option to automate check data entry using
Courtesy Amount Recognition - Legal Amount Recognition ("CAR LAR")
technology, deposit to multiple accounts from a single computer
workstation, and to expand check settlement and reporting
U.S. Bank is a subsidiary of U.S. Bancorp (NYSE: USB). With $207
billion in assets, U.S. Bancorp is the 6th largest financial holding
company in the United States. The company operates 2,411 banking
offices and 4,999 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 www.usbank.com.
CONTACT: U.S. Bank Media Relations
Amy Frantti, 612-303-0733
SOURCE: U.S. Bank