Citigroup Inc. and Regions Financial Corp. have started routing check images across the SVPCO network.
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The Clearing House Payments Co. LLC, which operates the network, said Thursday that Citi and Regions began using it last month and helped its April volume climb 129% from a year earlier, to 443.7 million images worth $715.5 billion.
The daily average volume for the month jumped 118.4%, to 20.1 million images. On April 7, SVPCO handled a record 31.2 million images.
With the addition of Citi and Regions, 26 banking companies and credit unions are sending one another images for settlement through SVPCO.
