BankServ to Acquire Assets of NetDeposit LLC from Zions Bancorporation
BankServ, based out of Las Vegas, Nevada and a leader in offering payment and banking technology solutions to businesses and financial institutions, today announced that an agreement has been reached for it to acquire virtually all of NetDeposit assets. NetDeposit is a company owned by Zions Bancorporation. The acquisition obviously includes NetDeposit’s remote deposit capture products/services, as well as existing business agreement and customer contracts.
By acquiring NetDeposit, BankServ will be doubling the number of customers they have in the payment processing industry. With the combined assets of BankServ and NetDeposit, this is the largest privately held independently owned bank processing remote deposit capture transactions in the United States. More than 110,000 business locations and more than 510 banks and credit unions will be serviced with their online payment technology, SWITF, Fedwire, check image capture, and mobile credit card processing solution.
The integration and transition process will last until the first quarter of 2011 and both brands will operate in parallel to one another. NetDeposit will continue to operate from their primary office in Salt lake City, Utah and the CEO will still run the day-to-day operations of the business
Source: company press release
