RDM Corporation
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| RDM Corporation | |
| Type | Public [1] |
|---|---|
| Founded | 1987 |
| Headquarters | Waterloo, Ontario, Canada (incorporated in Ontario) |
| Key people | Douglas Newman, CEO Thomas A. Di Giacomo, Chairman |
| Industry | Software and Hardware |
| Revenue |  $25 million USD |
| Operating income | $1.27 million USD |
| Net income | $2.07 million USD |
| Slogan | "Revolutionize the Way you Process Check Payments" |
| Website | RDM Corporation |
RDM Corporation[2] is a Canadian software and hardware company focused on the payment processing industry headquartered in Waterloo, Ontario, Canada, which was founded in 1987. The company has been very successful in developing software and hardware applications for the check processing industry, most importantly the digital check.
Waterloo is a growing technology hub, most notable for high-tech companies and organizations like Research In Motion and the University of Waterloo.
[edit] History
RDM Corporation started operations in 1987 as a start-up by students of University of Waterloo. They developed proprietary technology for document and image processing managagement, with a focus on check electronification solutions. The company has developed cost-effective methods for check processing.
[edit] Check 21
Check 21 is the law that allows the recipient of a paper check to create a digital version, thereby eliminating the need for further handling of the physical document.
The company has developed hardware and software that allows a financial organization to perform a scan of check and upload it to a secure server. This check becomes the legal equivalent of a real check.
[edit] 2005-Present
In 2001, the passage of Check 21 legislature meant that banks did not have to send checks across the country to be processed. This law allowed RDM Corporation to sell its proprietary technology that scans the checks and uploads them to secure server.
