TEL AVIV, Israel and PLANO, Texas and BROOKFIELD, Wis., April 18, 2016 (GLOBE NEWSWIRE) -- Top Image Systems Ltd. (NASDAQ: TISA ) a global innovator of intelligent content processing solutions and iStream Financial Services , a Wisconsin-based best-in-class payment processing and solutions provider, announced today that the two companies have reached a partnership agreement based on an upfront purchase of TIS mobiCHECK transactions to provide mobile field capture (RDC) solutions to iStream’s “on-the-go” customers. Sharing a deep commitment to optimal customer experience, quality assurance, data security and regulatory compliance, the partners will work together to bring superior mobile image processing solutions to clients across the U.S.
iStream Financial Services delivers a wide range of payment options to allow its customers to select the most appropriate payment channel for each and every transaction. Looking for an easy and intuitive mobile check deposit solution that would suit the needs of a diverse portfolio of customers to speed deposits and minimize their Days Sales Outstanding (DSO), iStream decided on mobiCHECK . mobiCHECK effectively enables clients to process checks immediately upon getting them in hand, regardless of the time or location, increasing efficiency and accelerating payments. Additionally, iStream selected mobiCHECK due to its capabilities to also facilitate ACH and Credit Card transactions in a mobile environment, both of which are in the iStream “field” roadmap.
mobiCHECK is integrated with iStream Deposit®, iStream’s bank-agnostic RDC solution that enables cross-institutional deposits, freeing customers from the tedious tasks of either having to change their banking relationships in order to use the application, or alternatively having to work simultaneously with different bank applications to process payments into accounts at multiple financial institutions.
“iStream is committed to providing the most innovative and technologically advanced mobile banking applications to our customers,” stated Fred Joachim, president, iStream Financial Services. “Our customers require accuracy and high image quality assurance on one hand, and flexibility and scalability to seamlessly integrate between different applications and with their mobile and other back office systems on the other. Thanks to Top Image Systems’ mobiFLOW SDK, we bring our customers high return on investment and more opportunities to generate new revenue streams through the introduction of our mobile app. We believe that this partnership will deliver strong business value for both organizations.”
“We are very enthusiastic to have this opportunity to work with such a respected and professional U.S. payments provider as iStream. Commercial customers across the U.S. are demanding not only convenient, secure and reliable mobile capture from their financial providers, but an integrated mobile experience. iStream Financial Services together with Top Image Systems can meet this demand,” commented Bob Fresneda, President, TIS Americas. “Starting with our joint message to the audience at PAYMENTS 2016, TIS and iStream have teamed up to deliver the best mobile RDC services on the market and we welcome clients, prospects and financial institutions to see what we have to offer.”
About iStream Financial Services
iStream Financial Services delivers treasury management solutions that encompass all aspects of a payment transaction. iStream’s end-to-end payment solutions for all payment types, deliver efficiencies and increase cash flow. Founded in 2004, iStream was one of the pioneers in the Remote Deposit Capture (RDC) market. Since then, iStream has focused its efforts on expanding and enhancing its payments platform. Today this includes capabilities and integrations that facilitate remote deposit capture, ACH, credit card processing, robust sub-accounting capabilities and remittance processing, all while being bank agnostic. Utilization of iStream for payment processing requires no changes to existing banking relationships and results in decreased costs and increased revenue. For more information, visit http://www.istreamfs.com .
About Top Image Systems
Top Image Systems™ (TIS™) Ltd. is a leading innovator of enterprise solutions for capturing and validating structured and unstructured content entering organizations from various sources and managing content-driven business processes. Whether originating from mobile , electronic, paper or other sources, TIS solutions automatically capture, process and deliver content across enterprise applications. TIS’ flagship eFLOW platform and diverse business process and mobile image processing solutions are marketed in more than 40 countries through a multi-tier network of distributors, system integrators, value-added resellers and strategic partners. Visit the company's website at http://www.TopImageSystems.com for more information.
Caution Concerning Forward-Looking Statements
Certain matters discussed in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results expressed or implied in those forward looking statements. Words such as "will," "expects,", "anticipates," "estimates," and words and terms of similar substance in connection with any discussion of future operating or financial performance identify forward-looking statements. These statements are based on management's current expectations or beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially including, but not limited to, risks in product development, approval and introduction plans and schedules, rapid technological change, customer acceptance of new products, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of TIS and its competitors, risk of operations in Israel, government regulation, litigation, general economic conditions and other risk factors detailed in the Company's most recent annual report on Form 20-F and other subsequent filings with the United States Securities and Exchange Commission. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
For Top Image Systems – Company Contacts: Shelli Zargary Director of Corporate Marketing and Investor Relations Top Image Systems shelli.zargary@topimagesystems.com +972 3 767 9114 Investors: James Carbonara Regional Vice President, Hayden IR james@haydenir.com + 1 646 755 7412 For iStream – Tom Cunningham Director, Marketing and Strategic Partnerships iStream Financial Services, Inc Tcunningham@istreamfs.com +1 262 432 1525
