WAUSAU, the industry leader in distributed payment and document processing, announced that Sandy Spring Bank with assets of $3 billion and headquartered in Olney, Maryland has successfully replaced an acquired bank's incumbent solution with WAUSAU's web-based Remote Corporate Capture (RCC) platform.
"Sandy Spring Bank believes in a growth strategy which includes growth through strategic acquisition," states Tina Mathes, Senior Vice President - Payment Services Division, Sandy Spring Bank. "WAUSAU's web-based platform delivers ease of deployment and leading-edge technology which easily replaces an acquired bank's incumbent solution. The conversion process of moving from an existing remote capture product to WAUSAU's platform was achieved with little to no impact on our clients. WAUSAU's professional services team coupled with our internal staff efforts provided expert support as we transitioned from the previous product to WAUSAU's. Two one hour web-based training sessions were provided and we hit the ground running."
Mathes stated, "With the implementation of WAUSAU's remote corporate capture solution, our acquired banks' corporate customers have seen an increase in system stability, improved connectivity, and enhanced validation checking - no more worrying if the deposit was received or not, now they know based on the confirmation."
This platform of choice provides Sandy Spring Bank's customers numerous benefits, including robust web-based training, ease of use, faster funds availability, the ability to streamline multiple offices into one account, extended 6:00 pm cut-off time for same day deposits, and savings associated with preparing and transporting their deposits to the bank.
"As more banks deploy a Remote Corporate Capture solution, we are going to see acquiring banks take over RCC solutions with many seats deployed. Banks will face the choice of maintaining multiple platforms or converting to a single platform. WAUSAU worked with Sandy Spring Bank to create a go-forward strategy to efficiently convert and train customers on a standardized platform," said Steve Buchberger, Senior Vice President - Payment Solutions for WAUSAU.
WAUSAU's Remote Corporate Capture suite is designed for the remote capture of deposits and remittance payments. WAUSAU offers both in-house and ASP options with an architecture that is easy to mass distribute to meet market demands. WAUSAU's holistic RCC offering is based upon an enterprise platform which provides the ability to serve a wide breadth of vertical markets with industry leading transaction processing applications for deposits, and retail and wholesale payments.
About Sandy Spring Bank
Sandy Spring Bancorp, Inc. (NASDAQ: SASR) is the second largest publicly traded bank holding company headquartered in Maryland. Its primary subsidiary Sandy Spring Bank was founded in 1868 making it among the oldest banking institutions in the region.
Sandy Spring Bank operates a full line of financial services through a network of 42 community offices in the greater Washington-Baltimore metro region. The acquisition of Potomac Bank of Virginia (February 2007) included five offices in Fairfax and Loudon Counties in Northern Virginia expanding Sandy Spring's franchise into this highly desirable market. The acquisition of CN Bancorp, Inc., holding company for County National Bank (May 2007), broadens Sandy Spring's presence into northern Anne Arundel County with the addition of four offices and one under construction. Sandy Spring Bank is a community banking organization with a long-standing reputation for outstanding client service. The Company is committed to superior financial performance to enhance long-term shareholder value as the means to remain independent and thus serve the local community most beneficially. Increases in assets and revenues have been from both organic sources and acquisition following a strategy of re-energized growth. Opportunities for expansion of core banking business and related activities are routinely explored. Visit www.sandyspringbank.com for more information.
About WAUSAU
WAUSAU is a premier provider of payment and remittance processing solutions, serving businesses of all types to develop strategies that move money faster. With its products, services and consulting, WAUSAU works with customers to speed check processing, electronic presentment, ACH payments, transaction processing, distributed capture and enterprise content management. WAUSAU's innovative solutions provide results for a wide range of organizations, including financial institutions, insurance companies, utilities, retail businesses and governmental agencies. Find more information about WAUSAU at www.wausaufs.com.