Answers, etc. Chooses VALID Systems: Industry's Leading Check Cashing Solution Continues Its Expansion into New Markets; Partnership Promises Improved Product Suite for Banks, Better Fraud Reduction for Non-Depository Providers

November 13, 2007
Source: Yahoo.com

VALID Systems announced this morning that Answers, etc., a leading provider of point-of-sale transaction software for the banking and non-depository financial services industries, has begun offering VALID ' s groundbreaking decisioning system to its full range of customers. “ By offering the VALID Systems automated decisioning engine, Answers ' merchants, bankers and alternative providers will be better equipped to service their underbanked customers, ” said Scott Merritt , president of Answers, etc. “ VALID provides greatly reduced risk, faster transaction times, and enhanced customer service. It is a great complement to Answers ' premier financial services software solution, PowerCheck32 which is currently offered at over 6,000 teller stations worldwide. ”

Answers ' PowerCheck32 system is a proven, comprehensive software solution designed specifically for the management of financial services centers. Its flexible architecture and SQL backend provide scalability and real-time data sharing that are unparalleled. Designed, tested, and implemented by industry professionals, PowerCheck32 is the result of years of collaborative, real-world experience.

VALID Systems ' application is being utilized by financial institutions and financial services providers -- including Key Bank, US Bank, and Tranax Technologies -- in locations from coast to coast. It boasts the highest approval rate, lowest loss rate and most competitive pricing structure of any check cashing product available in the market today.

VALID achieves this feat with a powerful, Internet-driven decisioning and biometric identification system that virtually eliminates fraud while requiring minimal hardware and training. Enrollment using VALID ' s application averages 70 seconds; repeat transactions average 27 seconds. Answers will be incorporating VALID ' s decisioning engine into PowerCheck32. VALID ' s assessment database enables companies of all sizes to gain insight into prospective customers, including a negative file which incorporates transaction attempts from across VALID ' s entire customer network across the country.

John Templer, VALID ' s CEO, commented, “ We look forward to working with the Answers team to assist banks, credit unions and financial services providers in expanding their services to underbanked customers. We believe our track record of providing the best product with the best price, essentially eliminating fraud while delivering speed, low cost and ease of use, can ' t be beat. ”

Both VALID Systems and Answers, etc. are exhibiting at this week ' s BAI Retail Delivery Conference and Expo in Las Vegas . Visit VALID in booth 451 or Answers, etc. in booth 868 to learn more, or visit http://www.validsystems.net/ and www.answersetc.com .

About VALID Systems:

VALID Systems is the industry ' s leading check cashing and verification solutions provider. Customers including two of the top ten banks in the United States, as well as a variety of companies of all types and sizes, have found VALID ' s ground-breaking, patent-pending system unparalleled in its speed, ease of use, and cost effective ability to attract and serve promising new customers. For more on how VALID can help you improve your retail program, visit http://www.validsystems.net/

About Answers, etc. :

Answers, etc. is dedicated to the demands of the financial services industry. Since 1989, Answers has developed check cashing and payday advance software tailored to the needs of various financial service providers including check-cashing stores, payday lenders, banks, grocery stores, and convenience stores. Today, with over 6,000 teller stations currently in place across the U.S. , Canada , and Europe , Answers has become a leader in this competitive market. Answers ' PowerCheck32 software serves as a point-of-sale for processing check cashing, payday advances, lottery tickets, phone cards, stamps, etc. while our hardware provides the robust multi-user network environment needed to run financial service centers seamlessly. With a well-trained and dedicated staff of technicians and programmers, Answers is geared toward total customer support to allow business owners to focus on growth of their operations: www.answersetc.com .