Key Bank Partners with AcuPrint Technology to Provide Commercial Clients with Check Fraud Protection Software
AcuPrint Technology's Positive Pay Software, SecurePay, Helps Key's Clients Manage Fraud
Press Release
CLEVELAND & CARLSBAD, Calif.--(BUSINESS WIRE)--Nov. 21, 2002--
KeyBank, a subsidiary of Cleveland-based KeyCorp (NYSE: KEY), and AcuPrint Technology, an industry leader in secure payment transaction solutions, signed a Positive Pay referral agreement enabling Key to refer their commercial Positive Pay treasury management clients to AcuPrint Technology.
KeyBank will offer their commercial clients the option to purchase the SecurePay solution, which can facilitate Positive Pay processing.
Positive Pay allows clients to share check issue information with the bank before checks are released for payment. When checks are presented to the bank, the bank matches the presented checks against client check issue information on file. Discrepancies between client issue information and presented checks are flagged, and sent to the client for payment approval or rejection.
"Before selecting AcuPrint Technology as our referral partner, we completed a comprehensive proposal and due diligence review, which included a thorough review of AcuPrint's current business operations, product functionality, service levels and customer satisfaction reviews," said KeyBank's John F. Dugan, vice president and senior disbursement product manager. "SecurePay exceeded our essential requirements and was highly regarded by established users."
Dugan also noted that SecurePay is simple and quick to install, an important consideration to providing KeyBank clients with efficient financial solutions. "In just a half hour, a client can install the SecurePay solution, convert their check issue data and transmit the resulting check issue file to the Bank," Dugan said. "Once SecurePay is installed, the data conversion process becomes automatic and file transmission can be completed with a simple mouse click."
"KeyBank's evaluation of several Positive Pay programs available on the market and their resulting selection of SecurePay as their client-side Positive Pay software is a significant accolade," stated AcuPrint Technology President, Wally Papciak. "It is vitally important to KeyBank that the positive pay solution they recommend be quick to install and use, fit easily into the client's current operating environment and be supplied by a company whose reputation has been proven for outstanding products and services. We couldn't be more pleased to be that provider."
About KeyBank
KeyBank, member FDIC, is part of KeyCorp, one of the nation's largest bank-based financial services companies with assets of approximately $84 billion. Key companies provide investment management, retail and commercial banking, retirement, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. The company's businesses deliver their products and services through KeyCenters and offices; a network of more than 2,300 ATMs; telephone banking centers (800/KEY2YOU); and a Web site, Key.com(R), that provides account access and financial products 24 hours a day.
About AP Technology
Headquartered in Carlsbad, California, AP Technology is a pioneer in MICR laser check printing and holds several technology patents. AP Technology develops leading solutions for MICR laser check printing, positive pay, and secure conversion, normalization and exchange of cash management data and information. AP solutions are connecting banks and businesses for automated, secure, cost-effective, and personalized data exchange.
Established in 1989, AP Technology is a founding member of the elite Hewlett Packard PSP (Primary Solutions Partner) group, and has positive pay partnerships with the majority of the nation's leading banks. For more information on the company's business-banking connectivity and check printing solutions, visit www.aptechnology.com.
Contact Information:
Jessica Andrews
Public Relations Contact
AP Technology
Phone: 760-602-5424
Fax: 760-930-6281
Email: jandrews@acuprint.com
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