Business Editors/Technology Writers
SALT LAKE CITY & MELVILLE, N.Y.--(BUSINESS WIRE)--June 15, 2005--NetDeposit, Inc. (www.netdeposit.com), la société innovante du logiciel Check 21 et fournisseur de premier plan de solutions logicielles en franchise destinées au secteur financier, et DataTreasury Corporation (www.datatreasury.com), une société informatique implantée à Long Island, ont annoncé aujourd'hui avoir trouvé une entente et conclu un accord de licence.
( BW)(NY-DATATREASURY/NETDEP) NetDeposit Obtains License for Technology Patents; Agreement Removes Concerns Over Electronic Check Clearing
Business Editors/Technology Writers
SALT LAKE CITY & MELVILLE, N.Y.--(BUSINESS WIRE)--June 15, 2005--NetDeposit, Inc.
(www.netdeposit.com), an innovator in Check 21 software and leading provider of franchise-building software solutions for the financial industry, and DataTreasury Corporation (www.datatreasury.com), a Long Island-based technology company, announced today that they have entered into a settlement and license agreement. NetDeposit, Inc. has licensed DataTreasury patents, settling claims made by DataTreasury against NetDeposit for infringement of those patents. NetDeposit's electronic check processing products were in issue in one of several lawsuits brought by DataTreasury claiming several banks and check processors have violated its patents relating to certain methods used in electronic check processing and archiving electronic images
"These claims of infringement of DataTreasury's patents have created a cloud of uncertainty surrounding electronic processing of checks under the Check 21 Act," said Danne Buchanan, chief executive officer of NetDeposit.
"This agreement removes that cloud for NetDeposit customers. Under this agreement," continued Buchanan, "NetDeposit has 'most favored nation' treatment regarding the use of these technologies, enabling it to maintain its leadership position in electronic check-processing." "We are delighted to be working with NetDeposit, a leader in providing solutions designed to leverage the Check 21 legislation," said Claudio Ballard, the founder of DataTreasury and inventor of the company's patented technology.
"This agreement helps to clear the way for both companies to conduct business, and it brings to the industry the technical advantages and significant financial benefits of this technology."
ABOUT NETDEPOSIT, INC.
., an innovator of Check 21 software, through its Franchise-Building Technology Platform, delivers the power and promise of check electronification to financial institutions, third party processors and corporations.
NetDeposit's NetCapture(TM) and NetConnect(TM) solutions help financial institutions take advantage of the new marketplace enabled by enactment of the Check 21 legislation -- the C21 Marketplace. The company's solutions include tools for distributed capture as well as sorting and routing of electronic items.
For over three years, NetDeposit, Inc. has been remotely capturing and electronically routing items, and currently powers two of the nation's largest IRD print networks.
The company has processed millions of electronic items
NetDeposit, a subsidiary of Zions Bancorporation (NASDAQ:ZION), is located in Salt Lake City, UT and San Mateo, CA.
For information call 1-801-273-6067, email: firstname.lastname@example.org or visit www.netdeposit.com.
ABOUT DATATREASURY CORPORATION
A privately owned company, DataTreasury was formed in 1998 and is built around its patents covering its "Global Repository Platform," which is the world's most functional and secure informational management system. DataTreasury was issued patents in 1999 and 2000 for image capture, centralized processing and electronic storage of document and check information. Several countries have recognized the patentability of this technology, and DataTreasury has many other pending patent applications surrounding this system.
NetDeposit is a registered trademark.
NetConnect, NetCapture, Decision Gateway, and C21 Marketplace are trademarks of NetDeposit, Inc., Salt Lake City, UT. All other brand and product names are registered trademarks, trademarks or servicemarks of their respective holders and are gratefully acknowledged.
All specifications subject to change without notice
for DataTreasury Corporation
Eric Wetzel, +1 512 474-7514
Barbara K. Marsh-Wetherell, +1 925 933-1907 email@example.com
KEYWORD: CALIFORNIA UTAH NEW YORK
INDUSTRY KEYWORD: NETWORKING LEGAL/LAW HARDWARE SOFTWARE BANKING PRODUCT MARKETING AGREEMENTS
SOURCE: DataTreasury Corporation