NEW YORK, NY – January 18, 2011 – ActivePath™, developer of unique, 2Way Email Banking Systems that enable banking customers to securely communicate and conduct alert-driven financial transactions from within email has introduced an enhanced version of its ActiveMail™ for Retail Banking, to enable banks and other depository institutions to achieve compliance with the FDIC’s Overdraft Payment Supervisory Guidance (FIL 81-2010) issued on November 24, 2010.
The FDIC’s Overdraft Payment Supervisory Guidance reaffirms its expectation that financial institutions are to:
- Promptly honor customer’s requests to opt-out of overdraft protection resulting from non-electronic transactions
- Give consumers the opportunity to affirmatively choose the overdraft payment product that overall best meets their needs
- Monitor accounts and take meaningful and effective action to limit overdraft protection use by consumers as a form of short-term, high-cost credit, including for example, giving customers who overdraw their accounts on more than six occasions in a rolling twelve months, a reasonable opportunity to choose a less costly alternative and decide whether to continue with fee-based overdraft coverage
Built on a secure, proven technology platform, ActivePath’s enhanced ActiveMail for Retail Banking solution enables banks to send secure, personalized, event-triggered, actionable alerts to customers whose accounts are in overdraft or close to being overdrawn, empowering them to accept or decline overdraft protection resulting from non-electronic transactions as required by the FDIC Overdraft Guidance. In addition, ActiveMail enables banks to integrate offers of overdraft protection products directly into account e-statements and alerts, allowing customers to affirmatively choose the product that best meets their needs directly from within the e-mail, message or alert.
“ActivePath is excited to introduce a pioneering solution that simplifies how banks can meet the FDIC’s stringent guidance, while providing a simple, user-friendly interaction for banking customers,” said Renan Levy, ActivePath’s Chief Executive Officer. “We believe that ActiveMail provides banks with a versatile solution to enhance consumer protection. It also enables the creation and delivery of personalized, event-triggered communications between the bank and its customers that build and strengthen a trusted relationship and improve the overall customer experience.”
ActiveMail for Retail Banking is built on ActivePath’s award-winning, patent-pending 2Way Email Banking technology that has revolutionized the online banking channel by enabling banks to securely send event-triggered messages and alerts embedded with transactional capabilities.
In 2010, Netbanker’s “Online Banking Report” recognized ActivePath’s Email Banking System with the “OBR Best of the Web” award for its system that “raises the bar in online/mobile delivery”.
ActiveMail for Retail Banking is available now. Pricing is based on implementation size and number of users. For more information, visit: http://www.activepath.com.
About ActivePath:
ActivePath’s unique, patent-pending and secure ActiveMail™ 2Way Email Banking System enables organizations to communicate and interact with customers in real-time, enabling customers to transact banking and other services from within email. ActivePath’s technology empowers banks to redefine and innovate the scope and caliber of their banking services and enhance overall customer experience by adding event-triggered marketing and alerts that enable customers to perform specific transactions, such as transfers, debits and payments, credit extensions and payments, directly within an email. Using ActivePath’s secure email communications and transactions reduces costly paper, mailing and call-center expenses while adding a whole new level of banking convenience, freeing customers to interact and transact through their email or mobile device anytime and anywhere. Founded in 2007, ActivePath sells to banks and financial institutions, card services and government organizations in the United States, Europe, and Asia. Learn more at: [www.activepath.com].
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