Financial Technology

Financial Technology

February 20, 2013

FTNI Boosts Online Payment Processing for Mutual of Omaha Bank

Mutual of Omaha Bank is using Financial Transmission Network Inc.’s (FTNI) ETran platform to boost the online payment processing experience for its home owner’s association (HOA) clients across the globe.

FTNI’s ETran solution will help the bank in its Web-based credit card processing and reporting for these HOA clients. Mutual of Omaha Bank is an established name in the home owners association (HOA) banking space, and provides banking solutions to more than 21,000 HOAs nationwide.

“We’re very pleased to use FTNI’s ETran platform to enhance the online payment processing experience for our valued HOA clients nationwide,” said Matt Minchow, executive vice president at Mutual of Omaha Bank. “FTNI was able to quickly complete the certification process and meet our specific processing needs.”

The bank has rolled out of its enhanced credit card processing by deploying First Data Corporation’s Dynamic Descriptor processing. FTNI is certified with First Data’s Dynamic Descriptor and this feature enables merchants to pass on additional information that can be included in the credit card statement.

Consumers can also leverage this feature to gain useful insight into each charge on their statement. FTNI claims this feature will enable bank will be able to cut down the number of customer service calls requesting additional information.

FTNI can adapt ETran system to address the changing needs of its partners and clients. The solution can be used in several fields including check scanning, Web payments, ACH and credit card initiation or invoice presentment.

“By continuing to add new functionality and connection points via banks, credit card gateways or back-end accounting and CRM applications, we allow our clients to focus on growing their business and not having to manage the technology,” added Chris Thompson (News - Alert), EVP and COO of FTNI.

FTNI previously partnered with global payments processing technology provider Panini to enable the insurance industry to realize the substantial benefits of remote deposit capture (RDC).

Edited by Rachel Ramsey

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