FOR IMMEDIATE RELEASE
Abound Resources Launches RightTech™ Select
For Remote Deposit Capture
Credit unions get affordable option to evaluate Remote Deposit Capture
AUSTIN, Texas (July 2, 2007) – Abound Resources, Inc. of Austin has launched RightTech™
Select, an online solution that guides credit union 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 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 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 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
Page 2 – Abound Resources Launches RightTech™ Select
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.” she said.
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 credit union’s unique needs.”
Abound Resources is not simply a traditional technology consulting firm to community financial
institutions, she contends.
“We want to help 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
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
community financial institutions and is a former board member of NACHA, the electronic
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
“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 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.
Page 3 – Abound Resources Launches RightTech™ Select
“Small and mid-tier business customers are actively seeking remote deposit capture capabilities,”
he said. “Credit unions 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
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:
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 MORE INFORMATION OR INTERVIEWS:
Amanda Covington, Marketing, Abound Resources, Inc., 13740 Research Blvd., Ste. 3, Bldg. S,
Austin, TX 78750, 512-351-3703, firstname.lastname@example.org
Preston F. Kirk, APR, Kirk Public Relations, Austin TX, 830-693-4447; email@example.com