Denver-based REMITCO, a wholly-owned subsidiary of First Data Corp., has entered into a long-term agreement with WAUSAU Financial Systems that expands WAUSAU's proprietary software solutions into a full service offering.
Under the agreement, WAUSAU will provide multiple levels of service that allow organizations to choose end-to-end remittance processing or a more limited solution that can grow over time. The expanded solution can be used by a number of industries, including financial services, utilities and insurance companies.
First Data will host the software environment, manage the service facilities, and provide the labor necessary to process the transactions. First Data will also beta test new WFS product development and new releases and upgrades to the software.