Banking Tools and Solutions

Walk into a traditional bank check processing center. You’ll be assaulted by loud noise, whirring machines and unmotivated employees with carpel tunnel syndrome. Then walk into a bank operations center where they’ve adopted check-imaging technologies. You’ll see employees working at normal PC workstations in a quiet, peaceful environment. There’s less key punching and more verifying done by computers. There’s less physical handling of checks and more satisfying, decision-making work using images on monitors.

Leading the way are better recognition technologies for courtesy and legal amounts. Some vendors claim automated read rates that exceed 80%. Imagine eliminating that much manual processing from your system. Another development is positive pay services over the Internet. Banks and their corporate customers both benefit if there’s no waiting for physical checks or faxed images. Remote check scanning offers yet another advance. Instead of the central processing center receiving huge bags of checks that have to be processed under deadline, these systems let the first pass take place at the branch and check balancing take place throughout the day. These and other advances are bringing efficiency and quality of life to bank operations.

Mitek Systems

CAR/LAR, MICR and More

CheckQuest is a series of back office modules for check processing offered by Mitek Systems (www.miteksys.com). The system performs MICR, courtesy and legal recognition (CAR/LAR), and ICR for electronic balancing. Supporting the Federal Reserve Bank’s Electronic Check Presentment, it allows electronic check movement and provides online check research capabilities, allowing employees or customers to research their check history by multiple criteria. A statement printing system automatically includes images of the checks and allows statements to be published on disk, CD-ROM or paper. The system runs on Unix, Digital Equipment VMS or Windows NT. Prices start at $95,000 including software, a PC, scanner and document transport mechanism. The solution can also be purchased without hardware.

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Aquracy.Com

Lockbox Automation

In partnership with Parascript, Aquracy. Com (www.aquracy.com) has released Aqurit, a check and remittance imaging technology targeted at companies processing 50 or more transactions daily. Using NCR 7731 Check Image Scanners and Parascript’s CheckScript ICR software, Aqurit recognizes the handwriting (cursive or print) on checks and cross-validates the numeric courtesy amount and spelled-out legal amount fields, assigning a confidence level to the processed check. Aqurit can handle up to 500 transactions per hour and a total of 3,000 transactions daily, and is scalable up to 25 seats. The product requires Windows NT 4.0, SQL Server 7.0 and VisualBasic 6.0 (for Active X event scripting). Pricing starts at $9,995, not including the NCR 7731 hardware.

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Unisys

CAR Loaded With Options

SoftCAR+ courtesy amount recognition software from Unisys (www.unisys.com) was introduced at last month’s TAWPI show. This third-generation, Windows NT-based software applies multiple CAR recognition engines and legal amount recognition engines to grayscale snippets and full bitonal check images. Recognizing the characters on both bitonal and grayscale versions of the image brings accuracy rates up to 80% for proof-of-deposit applications and 95% for remittance processing (where you know what the amount should be).

There are four optional features: A Check Information Reader lets remittance processors collect information from customer checks and deposit the information into a data warehouse for marketing purposes. Payee Line Recognition enables positive pay verification. A Scribble-detect reader identifies forms with change-of-address information. A Foreign Check Processor lets banks process international checks. Prices range from $1,000 to $150,000.

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Digital Check Corporation

Branch Office Scanning

Digital Check (www.digitalcheck.com) has introduced the space-saving TellerScan 400, intended for front-office, point-of-deposit use. The TellerScan 400 scans in bitonal and grayscale at speeds of up to 90 one-sided checks or 80 dual-sided checks per minute. It includes an automatic check feeder and an automatic MICR codeline reader. Options include a two-pocket sorter and inkjet endorser (for printing characters, logos or graphics on the reverse side). The SCSI scanner requires Windows 9X or NT 4.0. API toolkits and a batch scanning application are available. List price is $4,495.

The BUIC 1500 is Digital Check’s back-office scanner, designed for exception processing, signature verification and remittance processing. It scans in bitonal and grayscale at up to 60 checks per minute with automatic MICR reading. An infrared mechanism detects double feeds. Front and back endorsers are optional. The SCSI device operates on Windows 3.x/9X or NT and is list priced at $7,795.

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Financialware

Check Statement Software

Financialware (www.financialware.com) offers a complete check archive and retrieval system designed to replace microfilm. It accepts images from any sorter, including those from NCR and Unisys. Conversion and input software converts the checks to a special format and archives them in the Financialware system, storing on hard disk and MO jukeboxes. It posts check information to more than 40 different kinds of host computers.

Financialware’s Active Statements module produces imaged check statements. Active Statements takes the customer statement file from the bank’s DDA system, finds the listed checks in the check image database and matches the two together. It finds the image by using information such as the customer statement file, number of enclosures, account number, check number and other MICR line information.

The resulting statement can be viewed, sorted, printed or emailed, and customized for each customer (number of images per page, whether one or both sides of the checks are displayed and delivery options). The software also provides zip code sorting, barcode printing and clear-band technology for automated mailing machines. The next release will make the statements available over the Internet. Pricing ranges from $15,000 to $50,000 depending on number of users and the asset size of the bank.

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Advanced Financial Solutions

Branch Check Capture

ImageVision 2001 from AFS (www.afsimage.com) is a suite of check imaging, archival and processing software for large banks and data centers. The system captures work and it provides reject re-entry, balancing and posting of check transactions. It provides CAR and LAR as an option using the Orbograph Trinity. It produces image statements and provides image lockbox for banks that provide payment processing for their business customers.

A new branch support offering lets checks be scanned at each branch and sent over an ISDN line to the central processing site throughout the day for balancing. That reduces the bank’s courier costs and prevents evening bottlenecks. It also lets branch extend the deposit hours and same-day credit availability.

ImageVision 2001 is also a full remittance processing system used by large organizations like Diamond Shamrock and the State of North Carolina tax department. AFS’ pricing starts at $200,000. The branch distributed scanning system costs $10,000 to $15,000 per branch (including hardware).

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Orbograph

High-confidence CAR

Orbograph (www.orbograph.com) offers courtesy amount recognition (CAR) and legal amount recognition (LAR). The company says its latest OrboCAR Trinity release can achieve a 70% read rate. A high read rate, coupled with a low error rate, lets banks cut manual entry time while extending the balancing window for point-of-deposit work. The combination helps address late branch cut-offs for many regional institutions.

As in previous versions of the software, OrboCAR offers bitonal and grayscale image support and document definition tools. The system handles ANSI and non-ANSI checks with patterned backgrounds, remittance slips, credit documents and cash substitutes. It is capable of processing between 30 and 2,400 documents per minute. This product is OEM’d by vendors and VARs. Pricing is around $100,000.

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Unisys

Networked Check Scanning

Designed to handle 200 to 4,000 checks per day, the SourceNDP from Unisys (www.unisys.com) is a networked check processing station. The scanner works without a dedicated PC using the Windows CE “portable” operating system. It attaches to a network via an ethernet connection and can sustain 30 documents per minute, sorting up to 100 documents into two pockets. It scans in bitonal and 256-level grayscale. The unit includes a MICR reader and an endorser. It is priced under $5,000.

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Bell & Howell

Archival Options for Checks

The Ivory System from Bell & Howell (www.imagingexperts.com) includes a scanner, Windows-based network server, monitor, CD writer, printer, tape backup and fax modem. Once checks are scanned, the images are archived through the tape backup or CD writer and then shared on the network or transmitted to a remote location. Scanning takes place in uncompressed bitonal or grayscale at speeds up to 90 checks per minute. Intended as a replacement for microfilm archives, the system automatically indexes and allows you to search the archives using multiple quantifiers. A fee-based offering starts at $379 per month.

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IA Corp.

Positive Pay Online

Internet Positive Pay from IA Corp. (www.iacorporation.com) lets a bank give its business customers secure access to suspect check images over the Internet. The application runs on top of the supplier’s CheckVision check archive system.

Positive Pay is a cash management service that helps business customers reduce check fraud. Traditionally, corporate customers electronically send their bank a daily list of all checks issued. The bank compares this against checks received for payment and identifies those not listed, that exceed a specific dollar amount or that are issued on a date that’s long past due. Normally, suspect checks are copied and faxed or mailed to the customer for review and pay decisions. With Internet Positive Pay, banks streamline the process by letting customers view suspect items through a password-protected Web site and clicking “pay” or “no pay.”

Internet Positive Pay is priced at $95,000 for one million daily items of capture volume. IA Corp.’s CheckVision pricing is tiered based on capture volume and features, starting at $200,000.

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Unisys

High-volume Doc Transports

Unisys has introduced the NDP2000 and NDP1600, networked high-volume document processors capable of handling 2,000 and 1,600 documents per minute, respectively. Designed for processing checks, statements and remittances, the NDP2000 and NDP1600 feature ICR, OCR, courtesy amount recognition, multi-line inkjet endorsers and a secondary document feed. Following processing, documents are sorted into one of 48 pockets. Document capture takes place using Unisys’ Image Check Processing Software or a custom-designed application. Pricing was not available.

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Macrosoft

e.Statements Via IDM

The Synergy/2000 Integrated Document Management suite from Macrosoft (www.macrosoft.com) brings document imaging, check archive, COLD-ERM reporting and Web presentment options to banks and other financial institutions. The enterprise software manages all aspects of access, archive, management and retrieval of customer, transaction, account and loan information.

Synergy/2000’s Report Manager provides COLD functionality for managing reports created by core host processing systems, supporting specialty formats such as AFP, DJDE/Metacode and PCL. A Data Mining manager lets banks consolidate information from reports and other applications in a single system view, yielding insightful customer demographics, targeting information and account analysis. The Synergy/2000 Document Manager provides traditional imaging for loan documents, signature cards, applications, correspondence, etc. Management functionality includes check-in and check-out services and revision control for everything that can be stored in a customer file folder.

Macrosoft’s Check Manager module supports check image archive and statement production. Used in combination with the company’s Web manager and e-Commerce tools, the module can provide customers and remote bank employees alike with access to check images, statements and other data via secure Web access. A planned presentation module will add electronic delivery options, reducing the need to print and mail statements.

Synergy/2000 supports Windows 9X/NT, 5250, Unix, Unisys Clearpath and A & V clients and NT server platforms. Prices start at $20,000.

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Treev

Browser Boost for Banking

Internet banking is becoming increasingly important in the world of financial management. Treev (www.treev.com) has already been customizing its Treev 2000 integrated document management suite to handle online banking solutions, but the company is set to release a browser-based e-commerce tool that will provide instant access to lending, statement and report documents.

Treev 2000 consolidates imaging, report management, workflow and document management in one system. The DataTreev enterprise report management engine stores and retrieves monthly customer statements and reports. The DocuTreev imaging engine is used for deposit services, batch scanning, and storage and management of imaged signature cards, credit reports, lending files, employment verification and other documents.

OmniTreev tracks data objects designed for Internet and intranet applications and manages multiple servers. Enhancements can be custom designed for the Internet using ActiveX or CGI scripts.

The system offers handy features including search wizards, cross-application searches and a “bookmarking” feature for saving favorite search. Special security features have been integrated to eliminate unauthorized access to data and hacking attempts.

The Treev system runs on Windows 9X and NT platforms and supports Oracle and SQL database servers and is priced starting at $20,000 per engine or $45,000 for a complete, five-user imaging system. Pricing was not yet available for the new browser-based offering.

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ImageSoft

Forms Meet EDMS

A new product called Atlantis from ImageSoft (www.fiserv.com) adds forms processing and workflow to ImageSoft’s line of imaging solutions for banks. The product was formerly Alliance Data Systems’ IDS 2000 (FiServ recently bought Alliance Data). The price starts at $5,000 and varies according to volume and complexity. This was an object-oriented data capture product developed for banks. It handles time cards, signature cards, loan documents, checks, order-entry forms and resumes. It’s built on top of an Oracle or SQL server. Atlantis can accept faxed and scanned images through its FaxServer and ScanStation modules and electronic forms from the Internet or other applications through its ImportAgent module. As documents are processed through the Atlantis Workflow module, they are automatically identified and enhanced. Characters are recognized automatically using proprietary OCR, ICR and OMR engines as well as those from Parascript, Lucent and others.

Atlantis analyzes the results of all defined fields on the form, verifies them against databases and dictionaries and performs cross-totals and complex validations. Users are automatically presented with any exception documents. Errors are color-coded for image-enabled correction and export to the archive. It’s scalable and designed to handle 10,000 up to millions of documents a day.

Atlantis can stand on its own or act as a front end to ImageSoft’s back-end processing systems Titan and Nautilus, which are used by 200 banks. Titan, a UNIX-based suite with Windows workstations, provides image capture, MICR line recognition, proof-of-deposit processing, HSM storage of images, imaged check statements, electronic distribution, signature verification, image-enabled research and adjustments, image-enabled positive pay and COM replacement. The NT suite, Nautilus, includes COLD, document imaging, CD-ROM publishing, image statements, exception reporting and an Internet server.

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