Atlanta, Georgia Chexar Networks, Inc. (“CHEXAR®”), a leading provider of financial risk management solutions, is helping its client, Regions Bank, expand their customers’ options for accessing their money 24/7. Customers carrying select Regions Cards – including any Regions Visa® CheckCard (or ATM card) or any Regions Now Card, a reloadable Visa® prepaid card- can now deposit funds from an approved check using their smartphones and get access to the funds in minutes. Chexar’s solutions have been helping to enable check cashing functionality through Regions’ extensive branch network for more than a year now and at more than 700 Regions DepositSmart ATMs for a few weeks.
“Customers want more convenience and more tools to manage their money. Through our partnership with Chexar, we are able to help make funds available to our customers from any type of check, at any time of the day” said Scott Peters, head of Regions Consumer Services. “Expanding the ability to deposit a check using their mobile smartphones allows Regions to extend banking hours for customers, as well as giving them quick and easy access to their funds.”
Chexar is the national leader for technology and solutions for converting paper checks into Good Funds defined as irreversible value. Chexar is currently deploying Ingo – The Good Funds Network, as the market’s leading solution to enable any consumer to convert any type of check into Good Funds from mobile and other remote capture devices.
The company’s one-of-a-kind solutions combine multiple national databases, rules engines, and proprietary technology with redundant 24/7 risk management centers to achieve the industry’s highest automated and overall approval rates without limiting check type and size. Today, thousands of large financial institutions and non-bank financial services locations utilize Chexar’s technology and solutions to generate fee income and manage risk nationally. Chexar’s solutions lead the market in providing Good Funds across all channels including retail check cashing outlets, bank teller lines, self-service kiosks, bank ATMs, and on mobile smartphones.