Bremer Financial Corp. has agreed to settle checks through the image archive operated by Viewpointe LLC.
The New York check archiving and settlement company said Tuesday that Bremer, a St. Paul company, would use the Pointe2Pointe image exchange service to deliver check images to other Viewpointe users.
Viewpointe members store images within the archive and settle transactions by granting each other permission to view the data within the system. This model, known as image sharing, is different from the standard image exchange model that is used by several other networks, in which banks deliver check images electronically to each other.
Eleven major banks store their images in Viewpointe, including Bank of America Corp., JPMorgan Chase & Co., and Wells Fargo & Co., and the archive company estimates that it receives about 70% of checks written in the United States.
"The large number of exchange partners available through the Viewpointe network will help us fulfill our corporate objectives relating to check electronification and exchange," Jeff Gleason, a vice president and manager in Bremer's payments office, said in a Viewpointe press release.
