Cathay Bank Selects NetDeposit As Its New Remote Deposit Capture Provider

SALT LAKE CITY, Dec. 1 /PRNewswire/ -- NetDeposit ( www.netdeposit.com), a leading provider of distributed check capture solutions, announced today that it has been selected by Cathay Bank ( www.cathaybank.com), a California state-chartered bank, to be its new provider of remote deposit capture (RDC) solutions. Cathay Bank has successfully transitioned more than 90 percent of its business customers currently using RDC to the NetDeposit solution and is enabling new RDC users on NetDeposit's NetCapture Business platform.

"We are committed to provide the best technology and service available to our bank customers and to their business clients that depend on our products to make their deposits into Cathay Bank," said Chris Styga, EVP and general manager of NetDeposit's Financial Services Solution Group. "Cathay Bank's story is one of exceptional growth and stability through its ongoing commitment of service and support, to its customers, to the communities it serves and to its employees."

Cathay Bank is recognized as America's oldest bank founded by Chinese-Americans. Since its inception in 1962, Cathay Bank has grown to have more than $11.7 billion in assets as of September 30, 2009, as it serves customers nationwide through its network of 49 domestic branches as well as its Hong Kong branch and its Taipei and Shanghai representative offices.

With more than 35,000 RDC seats deployed, NetDeposit delivers value to banks, credit unions, processors, and their customers by providing proven payment technologies. With multiple patents for remote deposit capture and the experience of processing billions of checks, NetDeposit's products and service solutions are tailored to the unique needs of each financial institution it serves.

ABOUT NETDEPOSIT

NetDeposit leads the revolution in payment technologies which support paper to image processing, distributed capture, and electronic clearing. NetDeposit's Financial Services Solutions Group delivers value to banks, credit unions, processors, and their customers by providing proven payment technologies. With multiple patents and billions of checks processed, NetDeposit's products and services include remote deposit capture, branch capture, image cash letter processing, and check clearing.