| RDM Corporation | |
|---|---|
| Type | Public [1] |
| Founded | 1987 |
| Headquarters | Waterloo, Ontario, Canada(incorporated in Ontario) |
| Key people | Douglas Newman, CEO Thomas A. A public company usually refers to a company that is permitted to offer its registered securities ( Stock, bonds, etc Ontario (ɒnˈtɛrioʊ is a province located in the central part of Canada, the largest by population and second largest after Quebec Di Giacomo, Chairman |
| Industry | Software and Hardware |
| Revenue | ▲ $25 million USD |
| Operating income | ▲ $1. For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" In business revenue or revenues is Income that a company receives from its normal business activities usually from the sale of goods and services The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been In financial and business Accounting, earnings before interest and taxes (EBIT is a measure of a firm's profitability that excludes interest and income tax expenses 27 million USD |
| Net income | ▲ $2. The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been Net income is equal to the Income that a firm has after subtracting costs and Expenses from the total Revenue. 07 million USD |
| Website | RDM Corporation |
RDM Corporation[2] (TSX: RC) is a Canadian software and hardware company focused on the payment processing industry headquartered in Waterloo, Ontario, Canada, which was founded in 1987. The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been A website (alternatively web site or Web site, a back-construction from the Proper noun World Wide Web) is a collection of Web pages Country to "Dominion of Canada" or "Canadian Federation" or anything else please read the Talk Page Waterloo is a City in Ontario, Canada. It is the smallest of the three cities in the Regional Municipality Country to "Dominion of Canada" or "Canadian Federation" or anything else please read the Talk Page 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. Research In Motion Limited ( RIM) () is a Wireless device company best known as the developer of the BlackBerry handheld Communication The University of Waterloo (also referred to as UW and Waterloo) is a comprehensive Public university in the city of Waterloo, Ontario
History
RDM Corporation started operations in 1987 as a start-up by students of University of Waterloo. The University of Waterloo (also referred to as UW and Waterloo) is a comprehensive Public university in the city of Waterloo, Ontario 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.
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 Check Clearing for the 21st Century Act (or Check 21 Act) is a United States federal law,, enacted into law October 28, 2003 by the
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.
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.
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