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Ensenta Receives Patent For Risk Mitigation Software Used In Co Op My Deposit Check Imaging Suite

ENSENTA RECEIVES PATENT FOR RISK MITIGATION SOFTWARE USED IN CO-OP MY DEPOSIT CHECK IMAGING SUITE


USED IN CO-OP MY DEPOSIT CHECK IMAGING SUITE
4/17/2013
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REDWOOD SHORES, Calif. (April 17, 2013) - Ensenta Corporation (www.ensenta.com), a remote deposit capture software provider, announced that it has been issued a patent for risk mitigation software, widely employed by credit unions via the CO-OP My Deposit check imaging suite.

The Ensenta software helps protect credit unions from accepting fraudulent check images in remote deposit applications. The software evaluates the images based on 150 different qualities - too dark, too light, check number location, etc. - to ensure authenticity. The credit union member benefits by the fact that the checks they are depositing can be cleared in real-time. 

Ensenta sought the patent to protect its intellectual property, provide additional client confidence in the technology and enable Ensenta to more vigorously promote product features and benefits.

"Ensenta specializes in remote deposit capture and cloud-based risk mitigation applications, with over 300 financial institutions subscribing to our services," said Ed Viera, CEO for Ensenta. "The software allows financial institutions to use the web to decision and manage funds availability on checks by creating and enforcing policies, which associate risk factors with severities. Financial institutions can target specific risk management policies for the ATM, Web and mobile channels.  Each channel carries its own set of risks and challenges, and our patented solution uniquely addresses these."

The official designation of the patent is U.S. Patent No. 8,352,359, "System and Method for Performing Financial Transactions on a Network," issued by the U.S. Patent and Trademark Office. With the addition of this patent, Ensenta now has two U.S. patents issued and two patent applications pending in the U.S.

"CO-OP Financial Services congratulates Ensenta on the Patent Office's decision to grant this patent," said Stan Hollen, President/CEO of CO-OP Financial Services, and a member of Ensenta Corporation's Board of Directors. "It affirms our business partner's significant research and development efforts over the last 10 years, and the high quality of base technology available to credit unions through product providers such as CO-OP."

The Ensenta software is used in the CO-OP My Deposit remote deposit check imaging suite, which includes CO-OP My Deposit for individuals and small businesses; CO-OP My Deposit Mobile for mobile device usage and CO-OP My Deposit Branch for back office processing. 

For more information on the Ensenta risk mitigation software, visit www.ensenta.com.

About CO-OP Financial Services

Based in Rancho Cucamonga, Calif., and founded in 1981, CO-OP Financial Services is the nation's largest credit union service organization in terms of number of credit unions, assets and members. The company specializes in helping credit unions thrive by providing products and services that make it more convenient for members to do business with them. With a motto of "Be There. Be More," CO-OP's products fall into three business lines, including "Locations," (ATM, shared branching and call center services); "Card Payments" (debit and credit processing) and "Mobile/ Virtual" (mobile, online, check imaging, bill pay services). To learn more visit www.co-opfs.org.

About Ensenta Corporation

Ensenta Corporation is an award-winning Silicon Valley software developer creating innovative Cloud-based imaging and self-service technologies for the financial services industry. Ensenta's products and services are distributed by leading mobile banking providers, core banking processors, and ATM networks and manufacturers. For more information on Ensenta, visit www.ensenta.com.