Celent LLC, a Boston-based research and advisory firm, has recognized ProfitStars as the leading provider of remote deposit capture (RDC) and branch image capture solutions, according to ProfitStars, a division of Jack Henry & Associates.
Remote deposit capture is an electronic payment processing platform that enables businesses to scan checks. The scanning converts the documents into electronic transactions. The business then can deposit the check's image into bank accounts through ACH or Check 21 image exchange networks.
Branch capture images checks in designated branches and electronically processes items through the Check 21 network.
"ProfitStars enjoys an industry leading market share based on the number of end users supported in both branch/teller capture and commercial remote deposit capture market segments," said Bob Meara, senior analyst for Celent's banking group.
ProfitStars supports more than 1,500 financial institutions and 155,000 business sites with commercial remote deposit capture and more than 2,250 financial institutions and 100,000 end users with branch and teller image capture solutions. Celent has published two reports that recognize ProfitStars' leadership in remote deposit capture and branch image capture. Celent published one report November 8 and a second report October 29.
"Our ranking in these reports clearly conveys our success in these two areas of our business," said David Foss, president of ProfitStars. Monett, Mo.-based Jack Henry & Associates is a provider of computer systems and electronic payment solutions primarily for financial services organizations.
