Fiserv, NetDeposit In Check 21 Exchange

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Fiserv, Inc. and NetDeposit, Inc. are pursuing an agreement that will give each company access to the other's Check 21-related solutions. Fiserv, the nation's largest third-party check processor, said it is fine-tuning the development of capabilities to leverage the Oct. 28, 2004, implementation of the Check Processing for the 21st Century Act, better known as Check 21.

Fiserv will offer printing of substitute checks across its network of 50 image-based check-processing centers, and will act as a gateway for substitute check printing and image exchange to all of its 1,700 check-processing clients and to its more than 7,000 account processing clients.

Fiserv will use software components from both NetDeposit and Fiserv's Imagesoft Technologies business unit to enable distributed substitute check production and image exchange as part of Fiserv's comprehensive service offering. In addition, the NetDeposit service offering will be enriched by products available from Fiserv and Imagesoft to authenticate substitute checks, and to validate the quality of images used to create substitute checks and for exchange. These enhanced products also will be offered to other NetDeposit customers.

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