BankServ to Acquire NetDeposit
Create a vendor selection project & run comparison reports
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
31 August 2010Bob Meara
Today, BankServ and NetDeposit announced the signing of a definitive agreement wherein BankServ will acquire substantially all of the assets of RDC pioneer NetDeposit, LLC, a wholly owned subsidiary of Zions Bancorporation (Nasdaq:ZION). The combined entity would place BankServ solidly among the largest RDC vendors when measured by the number of live end-users, but well behind the core banking providers in terms of breadth of FI RDC client base. Celent sees each vendor bringing strength to the resulting organization: - NetDeposit brings a capable and scalable decision gateway, an area in which BankServ may have been comparatively weak, along with a more well rounded distributed capture solution set including branch capture and multiple commercial RDC products. - NetDeposit brings a forthcoming mobile RDC solution to round out its consumer and small business RDC capability. - BankServ brings innovative and user friendly front end client applications – particularly its seamless integrations to QuickBooks and Peachtree accounting packages. - BankServ also brings diversity beyond distributed image capture with its Mobilescape, SWIFT and wire transfer products along with their substantial client base. - Both organizations have a well deserved reputation for innovation in a solution segment mired in tiresome compliance activities related to FFIEC published risk management guidelines. The result will be a stronger, more capable competitor in a market with, frankly, too many vendors. This is all good.