Top Industry Executive to Advance NetDeposit's Next Growth Phase
SALT LAKE CITY, Feb. 4 /PRNewswire/ -- NetDeposit, Inc., a leading
innovator of software products and services for end-to-end electronic check
processing and optimized clearing and settlement, today announced that
industry executive Royce D. Brown has been named President and COO. Joining
NetDeposit's executive management team, Mr. Brown will play a key role in the
company's next phase of expansion as a major provider of Check21-enabling
software products and services for the financial services industry.
"Royce brings the ideal combination of payment expertise and industry-wide
reputation to NetDeposit with his over 25 years of management experience at
fast growth technology companies and consulting with major financial
institutions," said Danne L. Buchanan, CEO of NetDeposit, Inc. "His proven
track record in operations, payment products development, marketing and
strategic planning will play a critical role in expanding NetDeposit's ability
to bring universal electronic check processing to the financial services
industry."
"NetDeposit offers a product suite that can be applied to both sides of
the business equation: we deliver electronic cash management products that
increase revenue, reduce float, and streamline operations to reduce processing
costs. NetDeposit offers a clear migration path for organizations to take
full advantage of Check21 passage, including image exchange," said Royce D.
Brown. "I'm very excited to be part of this rapidly expanding organization
during such a significant period of change in the payments industry."
Mr. Brown has more than 25 years experience in executive management with
technology companies and as a strategy consultant to major financial services
institutions. He has deep expertise in payments and integrated software and
consulting solutions that increase profits, reduce operating costs and enhance
customer services. As a co-founder of Carreker Corporation in 1979, Mr. Brown
served in positions such as Executive Vice President, Payment Services
Division, Vice Chairman of the Office of the President and CAO through 2002,
helping to expand the company to a publicly traded, global technology
solutions firm. Recently, Mr. Brown was a Managing General Partner of
Praxxim, a management consulting group focusing on bank operations and payment
services for large nationwide bank clients.
Mr. Brown, who holds a B.A. from the University of Texas and an MBA from
the Graduate School of Management at the University of Dallas, began his
professional career at the Federal Reserve Bank in Dallas.
About NetDeposit, Inc.
Established in 2001, NetDeposit, Inc. is a leading innovator of payment
products and services for end-to-end electronic check processing and optimized
clearing and settlement. Headquartered in Salt Lake City, NetDeposit has
teamed with industry leaders such as EDS, Western Payment Alliance (WesPay),
Wausau, Thomson Financial Services and US Dataworks to provide a gateway to
all major check clearing channels now, and in the future. Through its patent
pending technology, products and services, NetDeposit helps financial
institutions, commercial businesses and payment processors greatly enhance
their funds availability, reduce costs and risk and eliminate the
inefficiencies of manual check processing. Net Deposit is a wholly owned
subsidiary of Zions Bancorporation (Nasdaq: ZION). More information on
NetDeposit, Inc. can be found at www.net-deposit.com .
SOURCE NetDeposit, Inc.
-0- 02/04/2004
/CONTACT: Dianne Douglas of Douglas Communications, +1-415-584-4906,
Dianne@Douglaspr.com , for NetDeposit, Inc./
/Web site: http://www.net-deposit.com /
(ZION)
CO: NetDeposit, Inc.; Zions Bancorporation
ST: Utah
IN: FIN CPR STW
SU: PER
JN
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4390 02/04/200408:01 ESThttp://www.prnewswire.com