Licensing Promotes Interoperability

RICHMOND HILL, Ontario & DALLAS (Business Wire EON/PRWEB ) October 10, 2008 -- Advanced Software Design Corporation (ASD), a leader in innovative fraud prevention solutions for banks and credit unions, announced it has agreed to license its interoperability and validation of check security features patents portfolio on a limited basis to PaymentsNation, a premier payments solutions provider. The limited license facilitates PaymentsNation and other fraud solution providers’ participation in multi-vendor interoperability product demonstrations.

Interoperable image survivable check security features are necessary in a Check 21 image-exchange world

We are pleased to support PaymentsNation, an organization that has taken a leadership position in the effort to educate the industry about interoperability and implementation of the X9 standard for ICSFs.

Working with ASD makes it possible for our members and other financial institutions to more easily experience the value that interoperable validation plays in fraud detection for the bank of first deposit

Through this arrangement ASD continues to tangibly demonstrate its commitment to the industry with technology, products and knowledge for the detection and prevention of payments fraud.

“Interoperable image survivable check security features are necessary in a Check 21 image-exchange world,” said Calin Sandru, president of ASD. “We are pleased to support PaymentsNation, an organization that has taken a leadership position in the effort to educate the industry about interoperability and implementation of the X9 standard for ICSFs.”

Demonstrations of the interoperability of ICSFs are vital for educating the industry and for encouraging the adoption of both ICSFs and the necessary element of interoperability. ASD and PaymentsNation are part of a collaborative effort working together to help banks stop fraud by creating a framework that allows multiple vendors’ sophisticated ICSFs to be easily validated from any check image through a common set of messages and using a single process.

“Working with ASD makes it possible for our members and other financial institutions to more easily experience the value that interoperable validation plays in fraud detection for the bank of first deposit,” said Karroll Searcy, chief operating officer of PaymentsNation. “Through this arrangement ASD continues to tangibly demonstrate its commitment to the industry with technology, products and knowledge for the detection and prevention of payments fraud.”

About Advanced Software Design Corporation

Advanced Software Design Corporation (ASD) is a software company specializing in end-to-end fraud detection and prevention solutions for image-based and electronic transactions. A pioneer and market leader in image-survivable check security features and interoperability, ASD’s patented SAND® and ValidateCheck™ provide added value to our financial institution customers and partners. ASD solutions comprise integrated positive pay products, ARP, ACH fraud prevention; OASIS™ - multi-channel fraud detection - transactions analysis, image-analytics and Anti-Money Laundering. For more information, please visit www.asdc.com.

About PaymentsNation:

PaymentsNation is a premier payments solution provider. The organization serves as both clearing house and information provider, offering educational events, forums, seminars, tools and resources for every type of payments professional. PaymentsNation offers a wide range of products and services, including payment system education, auditing, check settlement, collection item exchange, transportation contract management, risk management, training, clearing house rules, association administration services and advocacy. The PaymentsNation membership consists of approximately 800 financial institutions and holding companies that represent large, medium, and small banks, savings banks, credit unions, corporate credit unions, and banker’s banks. Affiliate memberships are held by non-financial institutions. Visit PaymentsNation online at www.paymentsnation.com.

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