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Diebold sells imaging and item processing subsidiary ERAS to CheckAlt

CheckAlt plans to leverage the ERAS footprint, operations and technology to drive growth opportunities with financial institutions.

June 11, 2014

CheckAlt, a provider of Check 21 payment and item processing solutions, announced today that it has acquired the ERAS subsidiary from Diebold Inc.

Miami-based ERAS delivers item and payment processing solutions for regional banks, community banks and credit unions. A news release from CheckAlt said that the company intends to leverage the ERAS footprint, operations and technology to expand its capabilities and drive growth opportunities.

"Regional and community financial institutions are wrestling with processing paper, electronic, mobile and e-commerce payments — especially with shifting volumes and tight resources," said CheckAlt CEO and co-chairman Shai Stern. "With the acquisition of ERAS, CheckAlt is able to meet the needs of the bank's internal operations unit as well the bank's merchant customers, all from a single vendor."

ERAS is now a wholly-owned division of CheckAlt.

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Diebold Nixdorf

As a global technology leader and innovative services provider, Diebold Nixdorf delivers the solutions that enable financial institutions to improve efficiencies, protect assets and better serve consumers.

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