Tranax focusing on the unbanked with latest self-service apps

Caroline Cooper
Self Service & Kiosk Association
October 27, 2009

Summary:

The unbanked consumer has gotten a lot of play lately. Self-service and retail partnerships involving Coinstar Inc., TIO Networks, Wal-Mart and Fiserv, to name a few, have made news in recent weeks as the companies go after the growing cash-preferred consumer segment, estimated to number 40 million U.S. households.

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ATM, kiosk functions merge to enhance deployer revenue streams

Travis K. Kircher
SelfServiceWorld.com
July 14, 2008

Summary:

An ATM's ability to scan a check, verify a person's identity and instantly dispense the check's amount is complicated, but it's a transaction that ATM deployers are taking interest in. And one company, Fort Worth, Texas-based VALID Systems, is making some headway with a solution it has developed for either the financial-institution or retail environment.

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Check-Cashing ATMs Target The Unbanked, Underbanked

ATM & Debit News
June 19, 2008

Summary:

Diebold Inc. announced last week that its Opteva line of intelligent-deposit ATMs cash payroll, benefits and IRS checks. Diebold’s announcement comes five months after Tranax Technologies Inc., a Newark, California based off-premise ATM maker, introduced the Tranax 500CS, a desktop check-processing-approval terminal.

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Diebold, VALID Systems streamline check-cashing

ATM Marketplace.com
June 10, 2008

Summary:

NORTH CANTON, Ohio – Diebold Inc. had added VALID Systems’ check-cashing solution to it’s portfolio of managed services, offering financial institutions with a low-risk, low-cost-of-entry solution for broadening check-cashing services for non-bank customers.

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Advanced functions and the future

ATM Marketplace/Reprinted in The Green Sheet

Tracy Kitten - ATMmarketplace.com
The Greensheet
April 14, 2008

Summary:

Coverage of ATMIA Conference 2008, including coverage of the unveiling of the Tranax 500CS. Tranax’s Wes Dunn is quoted: “"The check cashing solution we have with Valid Systems is getting a lot of attention. Valid Systems knows this business, and what we're doing with them is not in beta - it's being used in the field right now. We're in selling mode.

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Tranax Technologies, VALID Systems to premier all-in-one cashing terminal at ATMIA

ATM Marketplace
February 2, 2008

Summary:

Tranax Technologies and VALID Systems have announced plans to introduce their all-in-one checking cashing terminal at the ATM Industry Association Conference in New Orleans, Feb. 20-22, 2008.

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Eye On The Competition: Key Expands Check Cashing

Credit Union Journal
November 5, 2007

Summary:

Coverage of VALID’s announcement that KeyBank is expanding its check cashing program (using the TLR100) to additional markets across the country.

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VALID SYSTEMS PROVIDES TRANAX ATM RETAIL LOCATIONS WITH CHECK-CASHING SERVICE

Cardline
October 5, 2007

Summary:

Valid Systems, a Fort Worth, Texas-based check verification company, today announced it has formed a partnership with ATM manufacturer Tranax Technologies Inc. that calls for Valid to cash payroll, government and tax-refund checks presented to retailers with Tranax off-premise ATMs.

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Valid, Tranax Team To Provide Check Cashing

ATM & Debit News
October 4, 2007

Summary:

Coverage of VALID’s partnership announcement with Tranax Technologies to develop an all-in-one check cashing terminal for retailers.

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Tranax, Valid Systems partner for check-cashing offering with tie to ATM

ATM Marketplace
October 1, 2007

Summary:

Valid Systems has partnered with Tranax Technologies Inc. to provide a check-cashing solution at retail locations that incorporates the ATM.

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U.S. expands check-cashing program

Wayne Heilman
Colorado Springs Gazette
September 21, 2007

Summary:

Coverage of US Bank’s expansion of its check cashing program to the Denver market, which uses the TLR100.

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KeyBank: Just Give People What They Want

ABA Banking Journal
September 1, 2007

Summary:

A total of 120 branches offer check cashing, now, and, roughly 10,000 people are being served that previously didn’t have any relationship with Key. Griffin says the program has cashed over $20 million in checks with minimal losses.

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Underbanked Segment Welcomes Banking Relationships

Ability to use segmentation can help banks in underbanked market.

Marian Bruno-Blitz
Bank Systems & Technology
July 11, 2007

Summary:

Coverage of joint KeyBank-CFSI study of Key’s check cashing customers includes discussion of Keybank’s use of VALID Systems: “Technology plays a large roll in KeyBank's efforts to service the underbanked. According to the bank's Griffin, it has used technology from Valid Systems (Fort Worth, Texas) for the past two years to help register and authenticate customers for the bank's check-cashing service

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Giving Banks Tools to Reach New Markets

Robert Francis
Fort Worth Business Press
June 25, 2007

Summary:

VALID Systems’ check-cashing and verification products allow banks, retailers and other financial institutions to safely cash checks for customers without bank accounts – the underbanked.

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BRANCHING OUT Banks Court a New Client: The Low-Income Earner

KeyBank Experiment with Check Cashing; The Fingerprint Ritual

Ann Carrns
The Wall Street Journal
March 16, 2007

Summary:

To overcome those problems, the bank in 2005 invested in new technology from VALID Systems Inc. that electronically verifies a customer's identity using a check of multiple databases. Upon enrollment -- required to cash even one check -- clients present identification, such as a driver's license, and thumbprint for imaging for future identification.

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Check Cashing Technologies: Market Overview and Vendor Comparison

Aite Group revels that consumers and small businesses continue to cash about US $300 billion checks per year. The check cashing business generates approximately US $2.6 billion, annually.

Aite Group
March 7, 2007

Summary:

VALID Systems offers a very compelling solution for the banks that are looking to expand their check cashing capabilities. Its ability to weave together the teller window, the ATM devices, and its operational excellence are particularly noteworthy

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KeyBank Brings the Unbanked Into the Bank

KeyBank expands affordable check-cashing service to six suburban Cleveland branches.

Nancy Feig
Bank Systems & Technology
January 1, 2007

Summary:

More than 10 million American households do not have accounts at banks and other mainstream financial institutions, according to the Federal Deposit Insurance Corp., Cleveland-based KeyBank ($91.8 billion in assets) has been successfully serving these "unbanked" customers with its own check-cashing service at several of its branches.

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