MOSINEE, Wis., May 23 /PRNewswire/ -- WAUSAU, the industry leader in distributed payment and document processing, announced today that City National Bank, California's Premier Private and Business Bank(R), has selected WAUSAU's DigitalDeposit(TM) solution to enhance its business banking offerings.
With assets totaling nearly $15 billion, Los Angeles-based City National will use WAUSAU's DigitalDeposit(TM) solution as the basis of its City National E-Deposit corporate cash management offering. This new service is intended to enhance cash management options for City National's business clients, enabling them to scan (capture) checks at remote and non-bank locations and electronically transmit that information to City National for deposit.
As commerce moves toward complete electronification of payments, WAUSAU's solution will allow City National's business clients to achieve a new level of efficiency and effectiveness. By enabling money to be moved electronically, the WAUSAU solution speeds cash flow and eliminates many of the costly steps associated with traditional business banking, including transportation and related labor costs.
"Remote Corporate Capture represents a new way for City National Bank and other financial institutions to deliver cash management services to clients. City National has a rich history of providing excellent client service, including adopting cutting-edge technology to provide enhanced cash management services for its clients," said Nancy Langer, President - Payment Solutions for WAUSAU. "We are pleased to have the opportunity to work with City National to develop an innovative payments solution to enhance the bank's business growth."
About City National
City National Corporation is a financial services company with $14.7 billion in total assets. Its wholly owned subsidiary, City National Bank, provides banking, investment and trust services through 55 offices, including 12 full-service regional centers, in Southern California, the San Francisco Bay Area and New York City. The company and its affiliates manage or administer more than $40 billion in client trust and investment assets, including more than $19 billion under direct management. For more information about City National, visit the company's Website at http://www.cnb.com/ .
About WAUSAU
WAUSAU is a premier provider of payment and remittance processing solutions. WAUSAU serves businesses of all types to develop strategies that move money faster. With its products, services and consulting, WAUSAU works with customers to speed check processing, electronic presentment, ACH payments, transaction processing, distributed capture and enterprise content management. WAUSAU's innovative solutions provide results for a wide range of organizations including financial institutions, insurance companies, utilities, retail businesses and governmental agencies. Find more information about WAUSAU at http://www.wausaufs.com/ .
© 2006 PR Newswire
