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Commercial Banks Using Remote Deposit Capture Prepare for the New Amendments to Regulation CC

May 11, 2018  |   Print Version

Santa Fe Springs, Calif. - May 11, 2018 – In a News Conference during NACHA Payments 2018 in San Diego, Superior Press announced upcoming amendments to Regulation CC (Availability of Funds and Collection of Checks). Attendees learned how to plan for changes under the final rule taking effect July 1, 2018.

Banks receiving a duplicate deposit from a paper check previously deposited using remote deposit capture will now be indemnified for that deposit plus any interest compensation and expenses related to the check. However, there will be an exception preventing banks from making indemnity claims if they accept the original check containing “a restrictive indorsement inconsistent with the means of deposit, such as ‘for mobile deposit only.’ “[1]

According to the board, the indorsements may reduce accidental double deposits. They may also encourage banks receiving funds by remote capture to implement measures minimizing fraudulent deposits. [1]

According to the guidelines, bankers should take steps to use restrictive indorsement to help reduce double presentment of such items to minimize accidental and/or fraudulent deposits.

“Keep the regulators and auditors happy by implementing a fast and easy solution to satisfy the FFIEC Reg CC amendment changes,” says Steve Traut, Senior Vice President of Sales at Superior Press. “Whether for mobile deposit or traditional RDC deposits, we have the right solution with the fastest path to implementation.”

As a single source provider of cash management fulfillment solutions with more than 85 years of experience, Superior Press supports banks as they enact new commercial customer processes or internal bank procedures to meet the new requirements:

  • Superior Press can facilitate identification of the originating bank, reducing duplicate deposit occurrences making it easier for end users to identify the originating bank.
  • Superior Press offers streamlined ordering of indorsement stamps together with the RDC check scanners saving time and reducing data entry and order tracking and billing.

Financial institutions wishing to avoid penalties attended this important announcement to ensure that they’re fully prepared for the imminent changes.

ABOUT NACHA PAYMENTS 2018
Payments 2018 brings together thousands of payments system stakeholders to explore and debate current issues and opportunities. This year’s event will focus on faster payment experiences and how they impact the industry. Topics explored include increasing efficiency, reducing risk, and how new regulations will affect companies.

ABOUT SUPERIOR PRESS
Trusted by financial institutions since 1931, Superior Press combines financial industry expertise with state-of-the-art financial printing capabilities to service the valuable commercial clients of the nation's top banks. Superior Press specializes in providing complete, personalized treasury management solutions including check printing, financial forms, cash vault supplies, treasury supply call centers, and check cash hardware and asset fulfillment including Remote Deposit and Remote Cash Capture. -- www.SuperiorPress.com

Media Contact: Naja Hayward
Phone: 562-695-71270 ext. 2051
Email: nhayward@superiorpress.com

Sales Contact: Steve Traut
Phone: 888-590-7998
Email: straut@superiorpress.com

[1] www.gpo.gov/fdsys/pkg/FR-2017-06-15/pdf/2017-11379.pdf


Do not Write Off The Paper Check

Don’t Write Off The Paper Check Just Yet

January 23, 2018  |   Print Version

In the path of FinTech innovation, many expect the inevitable demise of the paper check. But the data doesn’t lie: Paper checks are alive and well, despite efforts to kill it.

The latest in PYMNTS’ Kill the Check series, a collaboration with Ingo Money, highlighted the persistence of paper checks. Twenty-two billion are issued in the U.S., the data shows, and most are written by corporates, lenders and other enterprises via supplier payments, payroll, expenses and other types of transactions. According to Ingo Money CEO Drew Edwards, paper checks are simply an easier way for an organization to make a one-time payment to another organization with which it has no relationship.

So, while the FinTech industry remains fixed on killing the paper check, fewer players are concerned with how to address ongoing points of friction for financial institutions that are still flooded with paper.

Superior Press, a treasury management solution provider for commercial banks, is acting on that need. Earlier this month, the company announced a buyback program to help financial institutions (FIs) trade in their broken Remote Deposit Capture (RDC) tools for an upgrade.

Steve Traut, co-owner and SVP of Sales at Superior Press, recently spoke with PYMNTS about why the company is helping banks stay up to date with technologies to help manage paper check volume, despite ongoing talk of its eventual demise.

“Specifically, in certain categories like B2B check payments, the decline is slowing at a much more gradual pace than [in] the past,” he said, citing recent data from the Federal Reserve, whose payments study, released in December 2016, found a slowdown in the reduction of check use in the U.S. Separate data from the Association for Financial Professionals (AFP) found use of the paper check increased in 2016.

It’s true that checks have faded out in many respects, like in business-to-consumer and consumer-to-business transactions at the point of sale (POS), with direct deposit payroll and the like. It’s also true that B2B payments players anticipate the paper check to eventually fall to second place, with corporates instead turning to ACH to pay suppliers. NACHA analysis found accounts receivables professionals predict ACH will surpass checks in the next few years.

But that still leaves about half, give or take, of transactions coming in via paper check, and a huge need for FIs to manage those transactions, including through Remote Deposit Capture technologies.

“With Remote Deposit Capture now in its fourteenth year, we’re beginning to hear from many bankers who have never addressed the nagging problem of what to do with outdated or non-working check scanners,” said Traut. “The result is a neglected stack of scanners in a corner of a storage room or rucked away in an operations area, with no way to assess the value of that inventory and what can be repurposed.”

The executive went on to note that banks have developed an efficient way to get these check scanners to their corporate customers, but struggle to manage the influx of broken tools that get returned. Check scanners have also significantly improved throughout the years, leading banks and corporates with a desire to upgrade to tools that provide faster scanning speeds, better image quality and streamlined integration with updated software platforms.

Superior Press’ buyback program not only highlights banks’ and corporates’ need for better RDC tools, but also emphasizes the endurance of paper checks at a time when most FinTechs are focusing on other payment rails.

“While check clearing is still a more expensive-per-transaction rail than ACH,” said Traut, “it still appeals to the end user’s need to provide important companion and remittance information, which ACH does not support. This continues the need for checks to persist in the near term until a payment vehicle can provide that level of detail with easy implementation and cost savings.”

The expansion of ACH across the U.S., especially with the recent rollout of Same Day ACH, includes a gradual focus on the transmission of payment data along with an ACH payment. NACHA recently published a survey that found 82 percent of FIs expect Same Day ACH debit volume to grow this year, but businesses continue to struggle with onboarding their suppliers to the payment rail and securing the necessary transaction data to reconcile payments. The result is that ACH is most often used for consumer payments, with less than a tenth of Same Day ACH volume attributed to B2B transactions.

“There is still a place for paper checks to be useful to different user groups for larger-value transactions and payment environments,” stated Traut. “It’s not that checks are disappearing completely. It’s where it does not serve the best purpose for those that have moved to ACH and card, which is narrowing the function for checks that still represents 17 billion transactions a year.”

“In no other region or part of the world does the paper check flourish in the volumes it still does today, and that is true for the U.S. banking system, too,” the executive continued, adding that the U.S. market is unique, in that it demands “diversity of choice [and] freedom of variety of options that I think both the U.S. financial system and the paper check oddly share.”

Traut noted that it’s undeniable the payments ecosystem — including in the U.S. — is progressing, but said there may always be a place for the paper check.

“The future of payments is a faster, intraday payment method, and the influx of cryptocurrencies and blockchain efficiencies bring much excitement to near-future possibilities,” he said. “However, some users will still seek the comfort in a slow and non-technological invasive process of printing and mailing a check.”

For more information about our Remote Deposit Capture program
Contact Brenda Spencer
bspencer@superiorpress.com
Or Click Here To Learn More


Steve Traut

Superior Press Launches New Remote Deposit Capture Buyback Program

January 10, 2018  |   Print Version

Commercial Banks Will Cash in on Outdated Equipment in Program to Be Discussed at the 2018 RDC Forum in San Jose.

Santa Fe Springs, Calif. - January 10, 2018 – Superior Press, a Treasury Management Solutions provider to commercial banks, has announced a new program to buy back defunct Remote Deposit Capture (RDC) check scanner devices in 2018. Commercial banks will be able to cash in on their old check scanners - even if they're not working - and reestablish their RDC programs with upgraded devices.

The award winning, family-run company will attend the RDC Forum in San Jose, California on January 30th to meet with local banks and discuss the new incentives. Steve Traut, SVP of Sales for Superior Press, will be a featured speaker at the one-day event.

The RDC Forum, hosted by RemoteDepositCapture.com, offers education, insights, and networking opportunities for financial institutions using any form of remote deposit capture. Traut and other leading industry experts will share insights on best practices, trends, and risk management to help companies increase profits, reduce risk, and enhance customer value.

Almost fourteen years after the passage of Check 21, Remote Deposit Capture continues to hold a significant role reshaping the retail and treasury divisions of banks nationwide. The 2003 act paved the way for RDC by giving scanned check images the same legal standing as the original paper documents.

"A surprisingly large opportunity remains for boring old commercial desktop RDC after all these years. Most banks have roughly 10% annual revenue growth in their sights over the short term," according to Bob Meara, a Senior Analyst at Celent. "A more interesting opportunity is with small business, but banks won't realize the opportunity unless they up their product game."

Superior Press offers professional and personalized solutions for commercial banks in partnership with forward thinking leaders in the Remote Deposit Capture scanner market such as Digital Check, Epson and Panini.

Digital Check sets its company apart by sending their engineers to visit supply chain partners and perform QA checks on parts. Their primary Remote Deposit Capture customers are the small and mid-sized businesses who handle between 10 and 50 checks or money orders per day.

Epson is a global technology leader with check-capture solutions ranging from integrated printers for teller capture, branch & RDC applications, small business & commercial lockbox services.

Panini offers affordable, scalable and reliable check scanners that meet the specific and unique requirements of remote deposit capture users.

About the Superior Press Buyback Program:

  • Superior Press will accept check scanners regardless of current working condition. Now you can offload broken equipment and start the year with a secure, fully-supported scanner. (Exceptions apply).
  • Participants will receive a Cash Redemption Value for each unit base model for up to 30 scanners. You save twice with instant savings and improved operations.
  • Enjoy the freedom to choose the best model for your business. You won't have to buy a model that's similar or limit yourself to the exact manufacturer and model you shipped to us.

Attend the RDC Forum in San Jose to meet and speak with the Superior Press team and receive a $50 discount off of your attendance to the event by using the code SP50.

About Superior Press
Trusted by financial institutions since 1931, Superior Press combines financial industry expertise with state-of-the-art financial printing capabilities to service the valuable commercial clients of the nation's top banks. Superior Press specializes in providing complete, personalized treasury management solutions including check printing, financial forms, cash vault supplies, treasury supply call centers, and check cash hardware and asset fulfillment including Remote Deposit and Remote Cash Capture. -- www.superiorpress.com

SALES CONTACT
Contact: Steve Traut
Phone: 888-590-7998
Email: straut@superiorpress.com

MEDIA CONTACT
Contact: Naja Hayward
Phone: 562-695-71270 ext. 2051
Email: nhayward@superiorpress.com


Colin Holden

Superior Press Announces Appointment of Colin Holden to Director of Technology Solutions for its Remote Cash Capture – Smart Safe Product Solution

August 1, 2017  |   Print Version

Santa Fe Springs, Calif. – August 1, 2017 - Bolstering its Remote Cash Capture product line and continuing its drive as a market leader in this emerging category, Superior Press is announcing the appointment of Colin Holden as Director of Technology Solutions. Holden’s extensive background includes 13 years of experience in the Cash in Transit (CIT) industry at Brinks, managing national retail accounts and top 50 asset size financial institutions. Holden is responsible for aligning Superior Press’s Remote Cash Capture-Smart Safe product strategy and technology partnerships.

The enlistment of Holden furthers Superior Press’s product offering of Remote Cash Capture to commercial banks as an alternative to the legacy CIT models. With Superior Press’s offering, banks can now deploy a full service smart safe product that aligns with its market strategy of growing treasury revenue and controlling the customer experience through the bank instead of the old legacy CIT model.

Senior Vice President of Sales, Steve Traut, says, “The addition of Colin enables Superior Press to accelerate its Remote Cash Capture market vision not just for today, but five and ten years down the road. Colin will be a key contributor to our company’s and our clients’ success as cash and check products continue to converge with network device management and monitoring.”

“Superior Press can now provide a Remote Cash Capture solution that represents a truly unique offering to banks with greater and faster revenue potential, more client-centric focus, and the flexibility to pick and choose components of a solution that each bank can make uniquely its own to best fit its’ client expectations and needs.” Traut continued.

“What attracted me to Superior Press is the commitment to developing a solution that enables banks to deploy a smart safe network that fills the gaps that have existed in the carrier deployed systems. This innovative approach provides the bank and its customers with best in class hardware options, active network health monitoring and reporting, and product and project resources that complement and support the Bank’s customer service strategy. This coupled with the flexibility to choose the components of the solution that enable each bank to make their offering unique and best fit their clients service and information needs is what bank product managers have asked for and what we now deliver”, said Holden.

About Superior Press
Trusted by financial institutions since 1931, Superior Press specializes in providing complete, personalized treasury management solutions including check printing, cash vault supplies, client onboarding support, treasury supply call centers, smart safe management and deployment, and remote deposit capture check scanner hardware and asset fulfillment services. www.superiorpress.com

Contact:
MARICEL NILACHATI
SUPERIOR PRESS
562.368.1700 x 1063
mnilachati@superiorpress.com


American Business Bank

American Business Bank Partners with Superior Press

May 26, 2017  |   Print Version

A new agreement between the mid-market business banking leader, American Business Bank and Superior Press has been announced.

Check Printing, Cash Management Supply Fulfillment and Remote Deposit Capture Scanner Fulfillment Services Featured in Contract.

Santa Fe Springs, CA - May 26, 2017 — A new agreement between the mid-market business banking leader, American Business Bank, www.americanbusinessbank.com and cash management fulfillment provider, Superior Press, was announced today. The contract will include Check Printing, Cash Management Supply fulfillment and Remote Deposit Capture Scanner fulfillment services. The partnership aligns a company known for its expertise in cash management supply on-boarding to businesses with a bank known to provide first class service across the banking spectrum.

“Our corporate value standards are very similar to Superior Press’s,” said Jesse Martin, American Business Bank FVP Treasury Management Director. He continued, “In addition to that, Superior Press’s outstanding service and executive accessibility were key reasons for the partnership”.

Suzanne Dondanville, American Business Bank EVP Chief Operations Officer, said “We are pleased to be partnering with Superior Press. The company’s ability to meet our customers’ needs both promptly and accurately are very important to our business. In addition, Superior Press’s family owned and operated structure and values are very similar to American Business Bank’s,” Dondanville continued.

“It is great to align Superior Press with a bank that values the client relationship above all else,” said Steve Traut, Senior Vice President of Sales at Superior Press. “American Business Bank’s foundation of integrity and strong values make it an ideal partner for Superior Press,” Traut continued.

American Business Bank’s Los Angeles headquarters were founded in 1997 by a group of highly experienced and influential bankers. They were frustrated by the practices of mega-corporate banking and envisioned a high-touch, first-class business bank. With nearly $2 billion in assets, American Business Bank is now considered one of the premier middle market business banks in the entire country. The bank’s sole focus is middle market companies. It offers first-class service by aligning clients directly with the right person, with access to the highest levels of the bank, with a full range of financial services. American Business Bank’s core values are found in old-fashioned banking values:

  • We build our bank one client relationship at a time.
  • We select only the best companies to work with.
  • We hire and develop only the best bankers.

About American Business Bank
American Business Bank headquartered in downtown Los Angeles offers a wide range of financial services to the business marketplace. Clients include wholesalers, manufacturers, service businesses, professionals and non-profits. The Bank has opened four Loan Production Offices in strategic areas including an Orange County Office in Irvine, a South Bay Office in Torrance, a San Fernando Valley Office in the Warner Center and an Inland Empire Office in Ontario. www.americanbusinessbank.com

About Superior Press
Trusted by financial institutions since 1931, Superior Press combines commercial client onboarding expertise with flexible and secure cash management supply solutions to service the most valuable commercial clients of the nation’s top banks. Specializing in treasury and cash management solutions for check printing, cash vault supply fulfillment, bank branded treasury supply call center support, remote deposit capture check scanner fulfilment and remote cash capture, smart safe managed services solution. www.superiorpress.com

Contact:
MARICEL NILACHATI
SUPERIOR PRESS
562.368.1700 x 1063
mnilachati@superiorpress.com


Patrick Smith

Superior Press Announces Appointment of Patrick Smith to Treasury Solution Team for its Remote Cash Capture Offering

July 28, 2016  |   Print Version

Patrick Smith appointed to Superior Press Treasury Solution Team for Remote Cash Capture.

SANTA FE SPRINGS, Calif. - July 28, 2016 - PRLog -- Superior Press announced today the appointment of Patrick Smith to its national sales team as its new Treasury Sales Executive for the Remote Cash Capture Managed Services Product. Smith arrives with a wealth of experience in the “Smart Safe” product arena coming directly from Fifth Third Bank as a treasury sales professional offering the solution to middle market and large corporate clients across the country. Before his time at Fifth Third Bank, Smith worked three years with smart safe manufacturer FireKing Security Group supporting the smart safe programs of two of the largest armored car companies in the U.S.

Steve Traut, SVP of National Sales, states, “Patrick’s approach will be very consultative to our contracted bank partners who will need to stand up a bank facing program or have its treasury sales team trained and supported in the field.”

Ryan Stidfole, Director of Sales Remote Cash Capture, shares “Bringing Patrick aboard was a natural fit. He is passionate about Superior Press’s vision for Remote Cash Capture and brings a unique skillset having both product and solution sales expertise.”

“I am very excited to be part of the Superior Press family,” shares Smith. “Our Remote Cash Capture offering solves the gaps inherent in the legacy armored courier Smart Safe programs. We are proudly challenging the status quo, helping banks to offer a more flexible and client-centric Smart Safe offering.”

ABOUT SUPERIOR PRESS
Trusted by financial institutions since 1931, Superior Press combines financial industry expertise with state-of-the-art financial printing capabilities to service the valuable commercial clients of the nation’s top banks. Superior Press specializes in providing complete, personalized treasury management solutions including check printing, financial forms, cash vault supplies, treasury supply call centers, and check & cash hardware and asset fulfillment. www.superiorpress.com

Contact:
MARICEL NILACHATI
SUPERIOR PRESS
562.368.1700 x 1063
mnilachati@superiorpress.com


Contract Extension

Superior Press Announces Five Year Contract Extension with a Top 5 Banking Institution

June 20, 2016  |   Print Version

Superior Press has announced its continued relationship with a top five asset-size bank by signing a five year contract extension across three treasury product lines of support.

Santa Fe Springs, Calif. – June 20, 2016 – Superior Press has announced its continued relationship with a top five asset-size bank by signing a five year contract extension across three treasury product lines of support: DDA check and deposit slip printing, cash vault supplies, and RDC check scanner fulfillment and hardware repair.

SVP of Sales, Steve Traut commented from a recent banking event in Indian Wells, California, “We are aggressively adding more sales coverage in the Midwest and Southeast to support our long term commitment to this relationship with the hiring of industry veterans, Patrick Smith and Ryan Stidfole, who will be responsible for expanding our business from Fargo, North Dakota to Miami Florida.

“Superior Press is grateful for its long 15+ year history with this top banking institution as its treasury supply fulfillment partner supporting hundreds of thousands of its clients across the country. We are thrilled for the continued opportunity to successfully support the relationship for the next five years,” states Kevin Traut, President of Superior Press.

“The stringent information security, risk compliance and due diligence needed to service an institution of this size is a testament to the internal info security policies and practices we have had in place over the years,” continued Traut. “We focus on these standards each day to make ourselves an outstanding partner across the country to all commercial and community banks of any asset size.”

ABOUT SUPERIOR PRESS
Trusted by financial institutions since 1931, Superior Press combines financial industry expertise with state-of-the-art financial printing capabilities to service the valuable commercial clients of the nation’s top banks. Superior Press specializes in providing complete, personalized treasury management solutions including check printing, financial forms, cash vault supplies, treasury supply call centers, and check & cash hardware and asset fulfillment. www.superiorpress.com

Contact:
MARICEL NILACHATI
SUPERIOR PRESS
562.368.1700 x 1063
mnilachati@superiorpress.com


FFIEC

Superior Press Announces the Launch of Remote Deposit Capture Scanner Risk Assessment Services

July 28, 2016  |   Print Version

Superior Press announces the launch of it’s new Remote Deposit Capture Scanner Risk Assessment Service that can be either bundled or as a standalone service with its existing platform of scanner fulfilment, inventory management, asset and warranty tracking, scanner repair and technical support.

Santa Fe Springs, Calif. – May 31, 2016 – Superior Press has announced the launch of its Remote Deposit Capture Scanner Risk Assessment Services. Servicing commercial and community banks for more than 11 years with Remote Deposit Capture Scanner fulfillment offered services, Superior Press has fulfilled more than 120,000 same day scanner shipment. Its new Risk Assessment Service can be either bundled or as a standalone service with its existing platform of scanner fulfilment, inventory management, asset and warranty tracking, scanner repair and technical support.

In line with the Federal Financial Institution Examination Council (FFEIC) guidelines for banks to continually evaluate, assess and review the risk potential of each RDC client, Superior Press now offers both self-certification support as well as client onsite assessments on behalf of their contracted banks. “Superior Press has developed a customizable assessment program that will fit the demands and varying needs of each bank’s risk tolerance and guidelines keeping compliant to the FFEIC standards,” says Steve Traut, SVP of National Sales.

“This new service offering is how Superior Press was first introduced to the RDC scanner fulfillment opportunity; through listening to our clients and asking where else could we offer value in the treasury supply workflow with banks’ commercial clients,” states Kevin Traut, President/COO of Superior Press. “In this ever increasing regulatory environment, we help support banks with a focused and dedicated response to assessing risk with the RDC product.”

Superior Press is pleased to have recently signed two California headquartered banks and will provide on-site assessments to their commercial high risk clients and self-evaluations support to clients at medium risk. For more information, please contact Ty Bishop via email at tbishop@superiorpress.com or by phone 562-368-1700.

ABOUT SUPERIOR PRESS
Trusted by financial institutions since 1931, Superior Press combines financial industry expertise with state-of-the-art financial printing capabilities to service the valuable commercial clients of the nation’s top banks. Superior Press specializes in providing complete, personalized treasury management solutions including check printing, financial forms, cash vault supplies, treasury supply call centers, and check & cash hardware and asset fulfillment. www.superiorpress.com

Contact:
MARICEL NILACHATI
SUPERIOR PRESS
562.368.1700 x 1063
mnilachati@superiorpress.com


Greg Kunath

Superior Press’ Greg Kunath Elected to Escrow Institute of California 2016 Board of Directors

December 9, 2015  |   Print Version

Superior Press supports Escrow Institute of California.

Santa Fe Springs, CA –December 9, 2015 - Superior Press announced today the election of Senior Account Executive Greg Kunath to the Escrow Institute of California’s (EIC) 2016 Board of Directors. In this role Kunath, will serve a two year term as affiliate, co-chair and affiliate chair growing affiliate memberships along with co-chairing the EIC Annual Charity Golf Tournament. Since joining Superior Press in 2013, Kunath has worked closely with the company’s escrow and real estate clients to provide customized banking supply solutions to meet the escrow industry’s unique security requirements, specific escrow software formats, and its professional design and branding needs. Kunath’s election follows a successful term as co-chair of the First Annual EIC Charity Golf Tournament this past year. The event, which netted more than $6,000 for the American Brain Tumor Association, will be held again on June 9, 2016 as part of the EIC Annual Conference June 10-12, 2016 in Carlsbad, California.

Citizens Business Bank and the Specialty Bank Team, say, “Greg’s level of integrity and passion for the escrow/title industry along with his desire to ‘give back’ will be a great help to the EIC board.”

“What a privilege and an honor to be part of such a superior team of individuals at the Escrow Institute of California,” said Kunath. He continued, “I look forward to working closely with this board, contributing to the growth and success of the EIC.”

Steve Traut, Senior Vice President of Superior Press said, “Greg’s commitment to his clients is evident in this election to the EIC Board of Directors. We are looking forward to supporting his efforts in this new role, and are thrilled that it came by the support and affirmation of his peers and clients.”

About The Escrow Institute of California

The Escrow Institute of California promotes its members’ interests at every level of the industry, in every part of the state, as well as to represent and advocate the positions of the industry before the key political and policy leaders in Sacramento and Washington, D.C. The EIC continually works to help guide and educate the public about the escrow process; to promote with consumers the benefits of using licensed escrow companies; and, to increase business opportunities for its members. EIC members are licensed by the California Department of Business Oversight (DBO), undergo criminal background examinations by the California Department of Justice and Federal Bureau of Investigation (FBI) and are members of the Escrow Agents’ Fidelity Corporation. For more information about the EIC, please go to www.escrowinstitute.org

About Superior Press

Trusted by financial institutions since 1931, Superior Press specializes in providing complete, personalized treasury management solutions to commercial banks, including check printing, financial forms, cash vault supplies, call center support, and hardware and asset fulfillment. For more information, visit www.superiorpress.com

Contact:
MARICEL NILACHATI
SUPERIOR PRESS
562.368.1700 x 1063
mnilachati@superiorpress.com


RDC Scanner Fulfillment Solution

Superior Press Celebrates Ten Years of Supporting Commercial and Community Banks with Remote Deposit Capture Scanner Fulfillment Solution

November 4, 2015  |   Print Version

Family-Run Business Ships More than 140,000 Individual Scanner Orders with 100% Same-Day SLA Performance Since Division Launch in 2005.

Santa Fe Springs, Calif. – November 3, 2015 – In business since 1931, Superior Press, a Southern California-based family business that specializes in providing complete, personalized treasury management solutions to banks and their valued commercial clients, today commemorated its ten-year anniversary of fulfilling Remote Deposit Capture (RDC) scanner orders for the nation’s premier commercial and community banking institutions. Trusted by financial institutions to deliver an easy and seamless hardware fulfillment solution, Superior Press began its RDC division offering a comprehensive 18-point fulfillment solution in November 2005.

The Superior Press 18-point solution empowers banks to select each of the features that align best to its internal support model and its client offering. Highlights of the fulfillment solution include the flexibility to offer both a bank-facing order portal and an ecommerce client-facing portal while giving the bank visibility to activity on either portal. Additional highlights include a flexible discount billing structure, full sales tax remittance and collection nationwide, dedicated inventory for each bank, testing of hardware, customizable welcome kit materials, and robust reporting. Superior Press offers a dedicated implementation support team, for those converting banks, with simple transition tools to help a bank’s cash management operations team move from in-house fulfillment models or competing support products over to Superior Press’ fulfillment solution. This allows full visibility of all past deployments prior to Superior Press’ involvement in addition to the hardware deployed through the Superior Press solution.

Steve Traut, SVP of Sales at Superior Press said, “We took all the logistical elements that are needed to support hardware fulfillment that the banks did not want to touch or had pain around and made that a part of our standard offering. In a lot of ways our solution is a bank-built solution and it was important to keep it software and scanner agnostic, giving the bank full flexibility to set their go to market strategy. It has served us and our bank clients well, as each bank we have contracted with since the early years of Remote Deposit Capture as a treasury product are still current clients today. We have had a 100% retention rate of client banks in those ten years and continue to add 2-3 new banks each year.”

The announcement comes at the start of this year’s 8th Annual RDC Summit, www.rdcsummit.com, the industry’s biggest showcase on Payments and Remote Deposit Capture current events and most important discussions. “Superior Press has been dedicated to serving the RDC industry since its infancy and we’re thrilled to have Superior Press’ support as we continue to serve the RDC industry through the RDC Summit and RemoteDepositCapture.com,” shared John Leekley, Founder and CEO of RemoteDepositCapture.com. “The Traut boys have been there from the beginning, back in the original Las Vegas Hofbrauhaus pretzel and beer events. Steve could always be relied on to talk all things RDC whether it was at the craps tables in the early morning with other RDC industry big thinkers, on the convention floor, or out on the golf links in Orlando where the RDC Summit series really got launched!”

This year at the RDC Summit conference the Superior Press team will be sharing two new exciting additions to its fulfillment offering. First, the RDC risk compliance self-certification and onsite audit services have been very well-received in the marketplace; and secondly, the company’s extension of their RMA support model to full-fledged Tier 1 and Tier 2 technical help desk services. Ty Bishop, Vice President of Implementations and New Product Development at Superior Press, stated, “The Tier 1 and 2 technical support desk and the enhancement of RDC compliance audits are an extension of listening to our clients and continually adding features and support pieces our clients no longer wish to support internally.”

“I am extremely proud of our team and what we have accomplished together over the past 10 years. Always hitting our same-day shipping commitment and continually selecting the right scanner make and model from the right designated inventory is a huge compliment to the dedication of this team and our processes. We are excited to provide another 10 years and 140,000 perfectly fulfilled scanner orders at 100% SLA support to our valued clients,” said Kevin Traut, President of Superior Press.

ABOUT SUPERIOR PRESS
Trusted by financial institutions since 1931, Superior Press specializes in providing complete, personalized treasury management solutions to commercial banks including check printing, financial forms, cash vault supplies, call center support, and hardware and asset fulfillment. For more information, visit www.superiorpress.com.

Contact:
MARICEL NILACHATI
SUPERIOR PRESS
562.368.1700 x 1063
mnilachati@superiorpress.com


Charities

Superior Press Gives More than $70,000 to Charities

October 22, 2015  |   Print Version

Family-Run Business Is on Track to Reach 2015 Goal of Donating $95,000 in Charitable Contributions in Support of a Core Company Tenet.

Santa Fe Springs, Calif. –October 22, 2015 – In business since 1931, Superior Press – a Southern California-based family business that specializes in providing complete, personalized treasury management solutions to banks and their valued commercial clients– today announced its corporate financial commitment initiative to support non-profit and educational agencies. The program aligns with one of company’s top Five Core values of being Community-focused on “sharing talents and charity throughout the community and causes that touch our lives.”

To date, this year Superior Press has given in excess of $70,000 dollars to children’s charities, veteran organizations, educational institutions and conservative causes that the family-driven business feels make a difference in the world. Some of these include the YMCA of Orange County, Operation Gratitude, American Cancer Society, Bennett Clayton Foundation for Children with OI, Vail Place a clubhouse for mental health recovery in Minneapolis, Chapman University, and Servite High School’s financial aid program. Superior Press consistently donates and serves as a Silver Sponsor to the California State University, Fullerton’s Concert Under the Stars “Fund a Titan” scholarship program, which provides a path to upward mobility for a diverse group of students whose lives and family legacies will be forever transformed.

“Giving back to the community and being of service is in our nature – our family and company’s fabric,” said Kevin Traut, President and COO of Superior Press. “My brothers and I were raised to never take anything for granted and that you share your gifts, your talents, and your blessings. I can recall my Father telling us throughout our childhood and early adulthood, give what you can and trust in the Lord, he will always provide.”

In addition to charitable contributions, the company places a high value on community service. Bob Traut, CEO of Superior Press, sits on the Steering Committee for Cal State Fullerton’s Concert Under the Stars event and plays an active role in all aspects of promoting and sponsoring the program. Bob also serves on the board of volunteers for the Orange County YMCA Child Welfare and Support Service, while Kevin has been actively engaged in raising money for a high school friend, Bunk Wurth, who suffered a spinal cord injury by running an annual St Patrick’s Day Golf Tournament which in its 9th year has raised over $300,000.00 dollars for Bunk’s medical expenses. Kevin adds, “We don’t just give because of our success, we believe it is our giving and sharing that helps spur our success and desire to grow and give more.”

“Superior Press is a great company that gives back to the community in so many ways. They continually support the YMCA, as well as other community nonprofits, by sponsoring charity events, assisting in community service projects, and donating to our Annual Campaign for low income families. In addition, Bob Traut, the CEO of Superior Press, joined the YMCA of Orange County’s Board of Directors in 2009 and since that time has provided volunteer service and support to the YMCA in many ways. He has served on multiple committees and served as the Board Chair from 2012 to 2014. I am grateful to have the support of the leadership and employees at Superior Press behind the YMCA; they truly work in partnership with us on a regular basis to strengthen our communities through service, giving and volunteerism.” Jeff McBride, President & CEO, YMCA OF ORANGE COUNTY/RIVERSIDE COUNTY.

ABOUT SUPERIOR PRESS
Trusted by financial institutions since 1931, Superior Press combines financial industry expertise with state-of-the-art financial printing capabilities to service the valuable commercial clients of the nation’s top banks. Superior Press specializes in providing complete, personalized treasury management solutions including check printing, financial forms, cash vault supplies, call centers, and hardware and asset fulfillment. www.superiorpress.com

Contact:
MARICEL NILACHATI
SUPERIOR PRESS
562.368.1700 x 1063
mnilachati@superiorpress.com


Banking on Paper

Banking on Paper

December 23, 2013  |   Print Version

PRINTING: Superior Press changes checks when lenders merge or are acquired.

At Superior Press in Santa Fe Springs, they’re used to jokes about buggy-whip manufacturers. After all, their business seems almost as anachronistic: printing paper checks.

But even amid the rise of online banking, Superior has managed to boost its sales by more than 40 percent in five years thanks to the growing number of bank mergers and acquisitions.

The company works with the commercial clients of banks that are being acquired, making sure those clients have checks and other supplies adapted to the new bank’s systems. It’s not a sexy business, but it is one that helps companies make a smooth transition from their old bank to the new one, said Kevin Traut, Superior’s senior vice president of sales and marketing.

“Banks don’t want the client’s first impression to be that there’s an extra fee, or the bank going to the client and saying their supplies are wrong,” Traut said. “We make that transition a little cleaner and easier.”

Superior first offered what it calls conversion services during the financial crisis, when many struggling or failed banks were acquired by other institutions. But this year was the company’s biggest yet, as the bank acquisition market heated up in the recovery. In California alone, 15 bank mergers or acquisitions closed this year, up from 13 the previous year. Several more deals are set to close early next year.

Superior works on projects nationwide and has handled seven conversion projects in the last year and a half. The company can’t disclose the names of most of its clients, but it has worked on several acquisitions by longtime customer Union Bank of San Francisco.

Through such deals, Superior not only makes money by selling more checks and other supplies, but also earns fees by providing service to bank clients.

For its fiscal year ended in July, privately held Superior said that it had revenue of $25 million, the 82-year-old company’s best year ever and an increase of about 44 percent compared with 2008.

So far, Superior has worked on acquisitions by existing clients, but Traut said that he hopes to do more deals and expand the company’s roster of bank clients next year.

There should be plenty of opportunities as banks continue to look for acquisitions and potential sellers see healthy offers, said John Ahn, president of Westwood brokerage and investment bank B. Riley & Co.

“I think 2014 will be a good time to be a seller,” he said.

Old and new

Superior, founded in 1931, was on the verge of bankruptcy in 1997 when it was purchased by Bob Traut, Kevin Traut’s father and the company’s chief executive. At the time, Superior had sales of about $1 million annually.

The elder Traut, who had worked in the printing business making billboard signs and graphics for trucks, said the company had been badly run and that business improved as he made amends with dissatisfied clients.

Superior eventually grew out of its original Santa Fe Springs location and into two neighboring buildings. This year, it moved out of three buildings with a combined 45,000 square feet and now occupies a 63,000-square-foot factory and office building on Norwalk Boulevard. The company has grown from about 75 employees in 2008 to about 90 today.

Half of those workers are on the factory floor, where checks and deposit slips are printed, cut, bound and packaged for delivery. (Superior prints only business checks not consumer checks.)

The other half of Superior’s employees are in cubicles, calling customers or answering calls from them. Some customers are simply reordering checks, deposit bags and other supplies; others are customers of a bank that has been acquired and have more specialized orders, such as new scanners used to deposit checks remotely and new software that allows scanners to communicate with the bank. They might even need training on how to process checks and other payments with the new bank. Also, checks often have to be redesigned. If businesses print checks in their office, their templates might have to change.

It can add up to a lot of hassle for bank clients, said Steve Dellasega, a senior product manager and the Dallas office of Union Bank who works on mergers and acquisitions.

“From the client’s perspective, the change is potentially extra work,” he said. “This is their first interaction with your bank, so you want to make it a positive experience.”

Banks used to handle this kind of customer service in-house, Dellasega said, but, like many other functions, they’re increasingly deciding it makes more sense to outsource the ordering and conversion of customers’ supplies.

“Banks have taken a different view of what their core competencies are,” he said. “Sometimes it just makes sense to move some of these things out.”

Most of the conversion deals Superior has worked on have been for larger banks, but Kevin Traut said he wants to develop more business with smaller ones. Those institutions, even more than big banks, should be interested in outsourcing customer service work to Superior.

“As mergers ramp up, banks are looking for all the help they can get,” he said. “Now we want to go downstream to smaller banks. They have even less resources.”

Superior services

When Superior handles a bank conversion, it starts by getting in touch with the acquired bank’s clients, letting them know how to order new supplies and in some cases walking them through any changes that need to be made to their own processes or software.

Smaller, lower-priority customers might get a letter or an email, while the highest-priority clients could get an in-person visit from Superior. Early next year, Kevin Traut said, the company will send sales representatives to the 500 biggest clients of an acquired bank.

In the case of recent Union Bank acquisitions, the bank asked Superior to produce and mail letters to affected customers and later to send customers a “welcome kit” of basic supplies, such as deposit bags and check endorsement stamps, Dellasega said.

Though Superior has grown, it’s tiny compared with its competitors, which include Harland Clarke Holdings Corp., a San Antonio conglomerate that reported sales last year of $1.1 billion in its check-printing unit, and Deluxe Corp., a Shoreview, Minn., company that sold about $900 million in checks last year.

Both firms print checks and offer customer service and conversion services similar to Superior’s. But Union Bank’s Dellasega said he plans to stick with Superior.

“I’ve known them for quite a while,” he said. “I think they’re one of the best vendors around. They’re unusually responsive and unusually high quality"

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