CheckAlt Makes Big Move In Payments Industry

Check 21 payment firm CheckAlt announced this week that it had acquired the ERAS subsidiary from Diebold, Incorporated. According to a company press release, CheckAlt will now have a stronger foothold not only in the Check 21 industry, but also in item and payment processing solutions for regional banks, community banks and credit unions.

CheckAlt Co-Chairman and CEO Shai Stern said in the release that the move is an important step forward for his company.

"Regional and community financial institutions are wrestling with processing paper, electronic, mobile and e-commerce payments, especially with shifting volumes and tight resources," Stern said. "With the acquisition of ERAS, CheckAlt is able to meet the needs of the bank's internal operations unit as well the bank's merchant customers, all from a single vendor."

Earlier this week, Stephen Bohanon of Alkami Technology, Inc. wrote a contribution piece about the importance of banks keeping pace in an increasingly digital world. According to Bohanon, bankers must eliminate disparate channels and move towards an omnichannel banking approach.

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