Barclays Bank PLC will install an image-based remittance system for its check clearing services. The system was developed by Earnings Performance Group Inc., Short Hills, N.J.
Using components of a transaction system platform by International Business Machines Corp., the remittance system will be integrated with Barclay's current check image deposit system. It will consolidate the clearing services into one central utility function.
It will initially process card payments. Using Courtesy Amount Read software and image technology, the remittance system will eliminate the need to key in data on as many as three-quarters of the items, allow acceptance of electronic payments, and provide on- line access to all items.
Barclays Bank, based in London, has assets of $240 billion.
