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Huntsville, AL, March 22, 2010
- DeepTarget Inc. (www.deeptarget.com)
today announced a new hosted and completely turnkey solution that will support financial institutions
in achieving compliance with the new Regulation E overdraft amendment.
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The solution has been designed to follow the Federal Reserve Board’s
model form
for presenting this information to customers and members and can be implemented and functional in as few
as three business days. The Regulation E amendment limits the ability of a financial institution to
assess an overdraft fee for paying automated teller machine (ATM) and one-time debit card transactions
that overdraw a consumer’s account, unless the consumer affirmatively consents, or opts-in, to the
institution’s payment of overdraft for these transactions.
On the website the new DeepTarget turnkey solution works by displaying ready banners regarding the new
regulation. This is an example of such a banner:
When a person clicks on this banner online or within email, he or she is redirected to a page that
contains the complete overdraft information that is required to be presented. In addition, they will be
offered the ability to opt-in for coverage of overdrafts on ATM and debit card transactions, should they
choose to do so. These pages can be customized for the branding of the Financial Institution.
As customers opt-in, they are automatically sent an email confirmation (written confirmation is required
for compliance). In addition, regular reports will be delivered either daily or weekly to the financial
institution about who opted in, providing updates on new acceptances, as well as an audit trail.
In the case of Online Banking, the solution is more targeted and personalized by taking advantage of
additional information about the account holder who has logged in. With the Email solution, the
financial institution simply provides a contact list to which DeepTarget will send a customized and
personalized email regarding Regulation E, as well as a link that will take them to the information and
opt-in forms described earlier. The rest of the workflow for both of these options is the same as that
of the Website option.
This new turnkey solution has been designed for Regulation E compliance, with a view to making it
effortless, rapid and cost-effective for any financial institution to implement. Visit the website
here to learn more about it.
About DeepTarget Inc.
DeepTarget Inc. is an insight driven digital marketing company whose software is rapidly redefining
targeted marketing. Through the use of DeepTarget marketing technology for online and other digital
media, DeepTarget is able to provide comprehensive messaging solutions for businesses of varying
sizes and in diverse industries. With anticipated significant growth in the online advertising and
digital media industries, DeepTarget is uniquely positioned for sustained success. For more
information, visit www.DeepTarget.com.
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