Industry leader demonstrates continued growth and expertise in the U.S. market
LAS VEGAS--Alogent Corp., a leading provider of enterprise payment transaction processing solutions for global financial institutions and processors, today announced its leadership position in the remote deposit capture marketplace, including more than 175 Sierra Xpedite® Remote Deposit™ bank customers and installations at three Top 10 U.S. banks.
To date, the company’s software includes more that 45,000 points of presentment desktops at more than 350 financial institutions. In the first six months of 2006, Alogent added more than 12,000 seats and over 200 new financial institution customers. This leadership expansion is acknowledged by the industry and is evidenced through the company’s widely-deployed Sierra platform, which allows enterprise deployment, scalability and seamless integration with existing and emerging systems.
“Alogent’s positive growth is directly related to meeting the ever-increasing requirements in today’s competitive marketplace and as a result, our products have consistently delivered both the simplicity and the advanced functionality that our customers must have to meet their strategic business goals and objectives,” said Brian Geisel, founder and CEO of Alogent. “Our experienced team is consistently delivering on its leadership position as a pioneer in advancing payment processing solutions for leading financial institutions,” he added.
“We are pleased to leverage Alogent’s technology and deliver a robust branch and merchant automation solution for our customers that range in size from de novos to organizations with billions in assets,” said Bob Michaud, general manager at Information Technology, Inc.
In a recent Webinar sponsored by the Association of Financial Professionals (AFP), over 150 bankers listened and interacted with three Top 10 banks about their challenges and successes in moving Sierra Xpedite Remote Deposit from pilot stage into full production. “It is incredibly satisfying to see the speed in which banks have transitioned from early stage pilots into mass market adoption,” said Paul J. Citarella, EVP at Alogent Corp. “One of today’s biggest banking challenges is focused on how to acquire deposits at lower costs. Bankers are gravitating to remote deposit capture because they see the benefits of generating net new deposits for their institution.”
Alogent’s deposit automation technology suite is based on the recently deployed sixth generation software platform – Sierra Xpedite® and Sierra Xchange™ 6.0. The new software provides functionality to support financial institutions and their corporate customers of all sizes, as well as a scalable and hosted model that allows banks and processors to offer low-cost branded solutions to numerous financial institutions.
“Corporate demand for remote deposit capture services is incredible. At this point in the market’s evolution, there is far more demand than supply,” said John T. Leekley, founder & CEO of RemoteDepositCapture.com. “Before end of year 2010, we estimate the Corporate Capture market will be valued at over $17.5 billion and have over 1.27 million points of capture. Remote deposit capture presents the industry with a rare opportunity: A win-win for almost everyone involved.”
About Alogent
Founded in 1995, Alogent Corporation is a leading global provider of enterprise payment processing solutions that enable financial institutions and processors to accelerate the conversion of paper to electronic processing. The company’s Sierra suite of solutions automates payments and deposits at every point of presentment (including branches, ATMs, merchants, corporations and cash vaults) while optimizing electronic data and image processing and settlement. Alogent is the deposit automation market leader with our platform processing billions of payments annually with over 45,000 desktop points of presentment sold. The company’s customers include HSBC, KeyCorp, Lloyds TSB and SunTrust, among others. Alogent brings proven delivery and leadership to help customers worldwide address mission-critical challenges. For more information, visit www.alogent.com or call 800.333.6030.
