After a successful pilot program, another Enterprise Partner extends
Good Funds choices to its consumers for all checks of all sizes
ATLANTA--(BUSINESS WIRE)--
Ingo
Money (“INGO®”) announced today that it is deepening its
relationship with First
Tennessee Bank, a part of First Horizon National Corp. First
Tennessee initially launched a beta program for 47 of its branch
locations with the Ingo Enterprise Good Funds solution in January 2013
and is now adding more than 120 additional branch locations to the Ingo
Enterprise Solutions platform.
“We have always been committed to offering innovative products and
services that provide value and convenience for our customers,” said
David W. Miller, EVP of Consumer Banking, First Tennessee Bank. “The
relationship with Ingo Money has allowed us to continue this mission by
offering our consumers choices about when and how they get their funds.”
Ingo Money is a leading provider of financial risk management solutions,
having successfully managed funding risk for some of the largest
financial institutions in the industry over the past 12 years. Its
automated approval technology and 24/7 risk assessment teams lead the
market, allowing Ingo to guarantee irreversible funds in minutes on all
check types and sizes and across multiple channels including: teller,
ATM and mobile. In doing so, Ingo Money enables its Enterprise clients
to offer their consumers the choice of getting their funds without
recourse in minutes in whatever channel is most convenient to them.
“I am very pleased with the results of the beta with First Tennessee
Bank – and with the partnership overall,” said Drew Edwards, founder and
CEO, Ingo Money. “We developed the early versions of our technology
while operating bank branches in Atlanta where we cashed any type and
size of check. Today, we are proud to have thousands of bank and
alternative financial locations across the country offering their
consumers more deposit and cash choices at their tellers, and on their
kiosks, ATMs, and smartphones.”
Today more and more banks utilize Ingo not only to offer check cashing
in their branches but also to offer fee-based irreversible deposits in
minutes at their teller lines, ATMs, kiosks and on mobile devices. Ingo
was the first company in the market to successfully offer Mobile Remote
Deposit Capture (“mRDC”) of any check type onto prepaid cards with full
funds availability within minutes, and more recently, has moved into
full commercialization of another industry first, the market’s only open
mRDC network for prepaid leveraging the existing payments infrastructure
to speed market adoption.
About First Horizon
The 4,300 employees of First Horizon National Corp. (NYSE:FHN) provide
financial services through more than 170 bank locations in and around
Tennessee and 21 FTN Financial Group offices in the U.S. and
abroad. First Tennessee Bank has the leading market share
in Tennessee and one of the highest customer retention rates of any bank
in the country. FTN Financial is a capital markets industry leader in
fixed income sales, trading and strategies for institutional clients in
the U.S. and abroad. First Horizon has been recognized as one of the
nation's best employers by AARP and Working Mother
magazines. More information is available at www.firsthorizon.com.
About Ingo Money
Ingo Money, Inc® (formerly Chexar Networks, Inc.) has provided financial
services to hard working individuals in the U.S. for 12 years. Ingo
Money’s solutions enable consumers to convert any check into Good Funds”
defined as money that is safe to spend because it doesn’t carry the risk
of reversal. We believe that the population needs Good Funds solutions
that give them easy and affordable control over their money.
The company’s solutions include a consumer direct remote deposit capture
network Branded Ingo® delivered on smartphones and a white label
commercial solution branded Ingo Enterprise® that powers banks and AFS
companies to offer Good Funds across all of their channels including
branch, ATM and smartphones. Today consumers access Good Funds from
thousands of bank and AFS locations, ATMs, Kiosks, and mobile devices
around the nation.
Ingo Money is located in Georgia where it operates a data center, and
two risk management centers employing almost 150 professionals. Ingo
Money’s clients include some of the largest banks, AFS providers and
payment networks in the world.
Learn more at ingomoney.com
or contact Chez Echeverri at chez@ingomoney.com.
For Ingo Money
Michael Touchton, 678-781-7215
Source: Ingo Money, Inc