Top Image Systems and iStream Financial Services Announce Partnership Agreement for Mobile Field Capture (RDC)
April 18 2016 - 8:30AM
Top Image Systems Ltd. (NASDAQ:TISA) a global innovator of
intelligent content processing solutions and iStream Financial
Services, a Wisconsin-based best-in-class payment processing and
solutions provider, announced today that the two companies have
reached a partnership agreement based on an upfront purchase of TIS
mobiCHECK transactions to provide mobile field capture (RDC)
solutions to iStream’s “on-the-go” customers. Sharing a deep
commitment to optimal customer experience, quality assurance, data
security and regulatory compliance, the partners will work together
to bring superior mobile image processing solutions to clients
across the U.S.
iStream Financial Services delivers a wide range of payment
options to allow its customers to select the most appropriate
payment channel for each and every transaction. Looking for
an easy and intuitive mobile check deposit solution that would suit
the needs of a diverse portfolio of customers to speed deposits and
minimize their Days Sales Outstanding (DSO), iStream decided on
mobiCHECK. mobiCHECK effectively enables clients to process
checks immediately upon getting them in hand, regardless of the
time or location, increasing efficiency and accelerating payments.
Additionally, iStream selected mobiCHECK due to its capabilities to
also facilitate ACH and Credit Card transactions in a mobile
environment, both of which are in the iStream “field” roadmap.
mobiCHECK is integrated with iStream Deposit®, iStream’s
bank-agnostic RDC solution that enables cross-institutional
deposits, freeing customers from the tedious tasks of either having
to change their banking relationships in order to use the
application, or alternatively having to work simultaneously with
different bank applications to process payments into accounts at
multiple financial institutions.
“iStream is committed to providing the most innovative and
technologically advanced mobile banking applications to our
customers,” stated Fred Joachim, president, iStream Financial
Services. “Our customers require accuracy and high image
quality assurance on one hand, and flexibility and scalability to
seamlessly integrate between different applications and with their
mobile and other back office systems on the other. Thanks to
Top Image Systems’ mobiFLOW SDK, we bring our customers high return
on investment and more opportunities to generate new revenue
streams through the introduction of our mobile app. We
believe that this partnership will deliver strong business value
for both organizations.”
“We are very enthusiastic to have this opportunity to work with
such a respected and professional U.S. payments provider as
iStream. Commercial customers across the U.S. are demanding
not only convenient, secure and reliable mobile capture from their
financial providers, but an integrated mobile experience.
iStream Financial Services together with Top Image Systems
can meet this demand,” commented Bob Fresneda, President, TIS
Americas. “Starting with our joint message to the audience at
PAYMENTS 2016, TIS and iStream have teamed up to deliver the best
mobile RDC services on the market and we welcome clients, prospects
and financial institutions to see what we have to offer.”
About iStream Financial
Services
iStream Financial Services delivers treasury management
solutions that encompass all aspects of a payment transaction.
iStream’s end-to-end payment solutions for all payment types,
deliver efficiencies and increase cash flow. Founded in 2004,
iStream was one of the pioneers in the Remote Deposit Capture (RDC)
market. Since then, iStream has focused its efforts on
expanding and enhancing its payments platform. Today this
includes capabilities and integrations that facilitate remote
deposit capture, ACH, credit card processing, robust sub-accounting
capabilities and remittance processing, all while being bank
agnostic. Utilization of iStream for payment processing
requires no changes to existing banking relationships and results
in decreased costs and increased revenue. For more information,
visit http://www.istreamfs.com.
About Top Image Systems
Top Image Systems™ (TIS™) Ltd. is a leading innovator of
enterprise solutions for capturing and validating structured and
unstructured content entering organizations from various sources
and managing content-driven business processes. Whether originating
from mobile, electronic, paper or other sources, TIS solutions
automatically capture, process and deliver content across
enterprise applications. TIS’ flagship eFLOW platform and diverse
business process and mobile image processing solutions are marketed
in more than 40 countries through a multi-tier network of
distributors, system integrators, value-added resellers and
strategic partners. Visit the company's website at
http://www.TopImageSystems.com for more information.
Caution Concerning Forward-Looking
Statements
Certain matters discussed in this news release are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause our actual results to be materially
different from any future results expressed or implied in those
forward looking statements. Words such as "will," "expects,",
"anticipates," "estimates," and words and terms of similar
substance in connection with any discussion of future operating or
financial performance identify forward-looking statements. These
statements are based on management's current expectations or
beliefs and are subject to a number of risks and uncertainties that
could cause actual results to differ materially including, but not
limited to, risks in product development, approval and introduction
plans and schedules, rapid technological change, customer
acceptance of new products, the impact of competitive products and
pricing, the lengthy sales cycle, proprietary rights of TIS and its
competitors, risk of operations in Israel, government regulation,
litigation, general economic conditions and other risk factors
detailed in the Company's most recent annual report on Form 20-F
and other subsequent filings with the United States Securities and
Exchange Commission. We are under no obligation to, and expressly
disclaim any obligation to, update or alter our forward-looking
statements, whether as a result of new information, future events
or otherwise.
For Top Image Systems –
Company Contacts:
Shelli Zargary
Director of Corporate Marketing and Investor Relations
Top Image Systems
shelli.zargary@topimagesystems.com
+972 3 767 9114
Investors:
James Carbonara
Regional Vice President,
Hayden IR
james@haydenir.com
+ 1 646 755 7412
For iStream –
Tom Cunningham
Director, Marketing and Strategic Partnerships
iStream Financial Services, Inc
Tcunningham@istreamfs.com
+1 262 432 1525
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