() is a Canadian
software and hardware company focused on the payment processing industry headquartered in Waterloo, Ontario
, which was founded in 1987. The company has been very successful in developing software and hardware applications for the check processing industry, most importantly the digital check.
Waterloo is a growing technology hub, most notable for high-tech companies and organizations like Research In Motion
and the University of Waterloo
RDM Corporation started operations in 1987 as a start-up by students of University of Waterloo
. They developed proprietary technology for document and image processing managagement, with a focus on check electronification solutions. The company has developed cost-effective methods for check processing.
is the law that allows the recipient of a paper check to create a digital version, thereby eliminating the need for further handling of the physical document.
The company has developed hardware and software that allows a financial organization to perform a scan of check and upload it to a secure server. This check becomes the legal equivalent of a real check.
In 2001, the passage of Check 21 legislature meant that banks did not have to send checks across the country to be processed. This law allowed RDM Corporation to sell its proprietary technology that scans the checks and uploads them to secure server.
According to a p, Mr. Douglas Newman... Read More