DTS Connex Announces Expanded Deposit Service Launched with T-Mobile
DTS Connex has furthered its partnership with T-Mobile to provide pioneering technology that will transform the way this leading phone carrier handles its deposits nationwide.
DTS Connex has created a process that allows SunTrust Bank to provide provisional credit to T-Mobile, for in-store cash receipts prior to scheduled pickup of those funds. In contrast to traditional credit for cash deposits, which requires a retailer to wait until its bank receives and counts the funds before making them available, this new product allows for provisional credit and customer use of funds for cash receipts recorded in the DTS Connex system.
Unlike smart safes, the current industry alternative for achieving provisional credit, this solution requires no capital investment and no on-going fixed cost.
“This new product provides T-Mobile with fast access to funds, even for cash still in their stores and for cash in transit to a bank or armored carrier’s cash vault,” states Lou Salafia, President of DTS Connex‚ “T-Mobile benefits from faster funds availability and the need to schedule fewer armored carrier pickups.”
International Financial Services (IFS) was founded in 1996 and launched DTS Connex in 2003. DTS Connex has provided T-Mobile with innovative financial data services for more than five years. “We believe this new product not only expands our partnership but bolsters our ability to efficiently serve their treasury needs,” says Salafia.
For more information about the Provisional Credit product and all other DTS Connex services, contact us.