ASD Licenses Patents Portfolio to PaymentsNation
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,”
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.
See the original story at: http://eon.businesswire.com/releases/advanced_software/software_design/prweb1457804.htm
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