21 Oct Brookfield's iStream Imaging reaches $750 million per month in remote deposits
Brookfield, Wis. – iStream Imaging, a technology company in the business of managing payments, reached a major milestone of $750 million payments in September for its Remote Deposit Capture solution.
The company is on target to reach $1 billion payments per month by January 2009. Since inception in 2005, iStream has grown over 3,000 percent and is in 48 states.
iStream developed the first integrated Application Service Provider (ASP) RDC solution that enabled the company to go direct to customers, and offer Financial Institutions a superior solution. The essential ingredient for iStream’s success is simplicity: the iStream ASP model takes minutes to set-up; the deposit process is three easy steps; and the user-friendly system moves beyond the deposit to incorporate online reporting, returns management, and is easily integrated to back office applications such as accounts receivable systems.
“Our RDC business is growing tremendously. Our new expanded line of products aims to provide a single payment solution for all business types,” said Fred Joachim, President of iStream Imaging. “We’ve leveraged our prior processing experiences and developed a scalable, flexible, and extensible platform that can meet all the needs of our users, software providers and financial institutions.”
iStream believes it has the most secure solution on the market. Its RDC process is secure from start to end, beginning with encrypting the images at the point of capture. On deposit, all data moves via SSL encryption to iStream’s secure redundant data center. No images reside on the user’s computer. iStream complies with FDIC security standards and is audited annually.
The company has also completed a SAS 70 including the process controls involving remote deposit to ensure the integrity, reliability, and security of our application and systems.