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Abound Resources Launches RightTech Select for Remote Deposit Capture; Community Banks, Credit Unions Get Affordable Option to Evaluate Remote Deposit

Austin, TX (PRWEB) July 2, 2007 -- Abound Resources, Inc. of Austin has launched RightTech? Select, an online solution that guides community financial institution (CFI) executives through the planning, vendor selection and contract negotiation process for Remote Deposit Capture.

Remote deposit capture, also called remote capture, remote image deposit or merchant capture, permits commercial customers to transmit check images to their bank or credit union, avoiding the need to go into a branch to deposit checks - "virtual deposit."

"A recent ABA Banking Journal survey predicted that 58 percent of community banks will make a decision about remote deposit capture by 2008," said Brad Smith, President and Co-founder of Abound Resources (Photo & Bio: http://www.aboundresources.com/index.asp?p=c_team). "We have been helping many community financial institutions strategize, evaluate and decide which remote capture vendor is best for their needs. With so many executives tasked with finding a remote deposit system, we decided to offer our experience, research and tools in a new, online, innovative and affordable solution."

"The price point for this new product, less than $1,000 for a 12-month subscription, sacrifices neither quality nor expertise," Smith emphasized. "We think this will prove particularly attractive to banks and credit unions that may not have the time or the budget to hire a technology consultant for the purchase of remote deposit capture."

Abound Resources helps financial institutions nationwide make the right technology decisions. The firm's team of advisors is not simply comprised of technology consultants, but advisors with first hand financial institution experience, having been COOs and CIOs of community financial institutions previously. Smith, former head of Deloitte & Touche's community bank technology consulting practice, has more than 16 years in community financial institution technology consulting and has served as project leader on more than 350 vendor selection projects.

RightTech? Cycle - Select . . . Perform

"We believe that assessing and selecting technology is a process, and our methodology, RightTech? Cycle is proven to lead executives through making the right technology decisions," stated Sharon Sokol, Vice President of Research and Product Development (Photo & Bio: http://www.aboundresources.com/index.asp?p=c_team).

The RightTech? Cycle has two distinct modules, Select and Perform (http://www.aboundresources.com/index.asp?p=w_righttech). Select consists of three phases, beginning with budgeting and planning, and then leading the institution through vendor/system selection and finally contract negotiations. Perform, continues with implementation, optimization and on-going vendor management.

"RightTech? Select for Remote Deposit Capture is available to the market now," Sokol said. "We expect RightTech? Perform to go live by September, helping do-it-yourselfers reach optimal performance for Remote Deposit Capture. Abound literally offers solutions at each phase along the path to meeting a community bank or credit union's unique needs."

Abound Resources is not simply a traditional bank or credit union technology consulting firm, she contends.

"We want to help community banks and credit unions, no matter what their budget. We offer online advice through innovative, affordable, web-based services for the do-it-yourselfer as well as traditional, project-based consulting services for clients who desire more customized, hands-on assistance," Sokol noted.

Sokol, a Certified Treasury Professional with more than 20 years executive banking level experience, is one of the foremost payment systems and treasury management experts in community banking. She is a former chief operating officer of both de novos and large CFIs and is a former board member of NACHA, the electronic payments association.

Free Product Demo Online

Those tasked with purchasing Remote Deposit Capture can attend a free 50-minute web demonstration to see the new online tool, RightTech? Select, on July 11 and July 12. (Sign-up Page: http://www.aboundresources.com/index.asp?p=demo)

"The remote capture decision is about much more than just Check 21 technology," Smith added. "There are many technology issues to address, most importantly which vendor to select. The number of vendor options has exploded. Several core banking system vendors have stumbled with their rollouts, creating big opportunities for third party companies. But there also are sales and marketing questions that need to be addressed, credit risks to be managed and operational issues to be resolved.

"Small and mid-tier business customers are actively seeking remote deposit capture capabilities," he said. "CFIs need to evaluate remote deposit capture as a potential solution to remaining competitive in their own markets. RightTech? Select is a simple do-it-yourself solution that will allow them to evaluate, select and negotiate contracts for remote deposit capture vendors."

Free Monthly Newsletter:

Abound Resources also offers a free Monthly Newsletter compiled with actionable information on various topics that affect CFIs and the industry. Sign-up Page: http://www.aboundresources.com/index.asp?p=r_newsletter

About Abound Resources:

Abound Resources helps community financial institutions make the right technology decisions - Guaranteed - whether selecting or assessing a new technology system, negotiating technology contracts, evaluating the core system, or a de novo working from the ground up.

For information or interviews:

Amanda Covington, Marketing, Abound Resources, Inc., 13740 Research Blvd., Ste. 3, Bldg. S, Austin, TX 78750, 512-351-3703

or

Preston F. Kirk, APR, Kirk Public Relations, Austin TX, 830-693-4447

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