Global Processing Alliance, the check-processing alliance formed by First Fidelity Bancorp and Bankers Trust Co., has signed an agreement with Earnings Performance Group to implement EPG's return item processing system.
Based in Totowa, N.J., Global Processing provides check and return-item processing, electronic check presentment, and related deposit and payment services.
The EPG system, called RIPS, is part of Global Processing's plan to consolidate First Fidelity's and Bankers Trust's check-processing operations.
Burton Mackintosh, chief technology officer at Global Processing, said RIPS will enable the firm to consolidate redundant hardware and software, establish standardized processing systems, and develop a more easily maintained technology base.
He added that RIPS, which is available as a PC-based or mainframe system, is also built to handle imaging technology.
Risk Analysis Feature
The automated system is designed to reduce key-in time and improve customer productivity.
Joseph Hadin, a principal at Short Hills, N.J.-based Earnings Performance Group, said RIPS also comes with enhanced management reporting features designed to facilitate risk analysis.
He said the system can also generate fee income resulting from processing returned items.
The first phase of the RIPS rollout will take place at the end of August, when First Fidelity's New York and Connecticut offices are converted.
Ms. Sullivan is a freelance writer based in New -York.