Herndon, VA
January 3, 2001
CheckAGAIN, a leading provider of NSF check recovery solutions with electronic reporting, has expanded its check authorization offerings to include Rocky Mountain Retail Systems (RMRS) National Check Information ServicesSM (NCISSM), one of the nation's largest and most cost-effective check verification databases.
NCIS is the highly successful offshoot of RMRS's Velocity PlusSM software product that gave collection and guarantee agencies control of data by housing regional databases in contained geographic areas. As the collection industry used Velocity PLUS more and more successfully, they identified a need for a national database incorporating all of the features of the initial product and providing a much higher transaction handling capacity and database size. To meet this need, RMRS launched NCIS in 1995 and it has expanded rapidly ever since. Today it rivals the size and performance of the largest check verification systems at a much lower cost.
"Our customers value choice in verification services, adding NCIS to our list of preferred vendors strengthens our position in the marketplace by being able to provide high quality, cost-effective verification services to complement our electronic NSF check management services for our customers," says Tim Robinson, CheckAGAIN's President.
Combining front-end check verification with Electronic Re-presentment and Centralized Returns is the ideal solution for retail business experiencing a high volume of NSF checks.
CheckAGAIN's Electronic Re-presentment is the collection of NSF checks returned through the Automated Clearing House (ACH) network eliminating the need to process paper checks, reducing the costly and cumbersome process of transporting checks all across the country. And because of the increased efficiency, CheckAGAIN returns the full face value of the NSF check to the merchant upon successful re-presentment. Check principal and fees are presented directly to the consumer's account electronically. As a result, retailers can increase their recovery rate of NSF checks, decrease their internal costs in loss prevention, and save their customers the hassle and embarrassment of making good on NSF checks in person.
CheckAGAIN's Centralized Returns catches NSF checks early on in the processing cycle and cuts the time to know about check returns down to as little as 72 hours, compared to up to 10-14 days through traditional processing by the banking system.
About NCIS
Rocky Mountain Retail Systems' NCIS (www.rmrs.com) is the sixth largest check verification database in the country according to the 1999 ranking in the Nilson Report (The Nilson Report, Oxnard, CA). RMRS is a wholly owned subsidiary of Electronic Clearinghouse, Inc. (ECHO).
About CheckAGAIN
Established in 1998, CheckAGAIN uses innovative technology to simplify and improve the recovery process on returned checks for merchants. The widely used system helps businesses nationwide increase their recovery on return checks, while lowering associated transaction fees. CheckAGAIN assists consumers by significantly reducing inconveniences normally associated with resolving misunderstandings due to returned checks. For additional information please visit www.checkagain.com or call 800/666-5222.
