Transys, the check processing division of CoreStates Financial Corp., is expanding its market with the opening of a second operations facility.
The company, which already runs a principal processing site in Philadelphia to serve customers in Pennsylvania and southern New Jersey, is opening a second site in Carlstadt, N.J., to serve customers in New York, Connecticut, and northern New Jersey.
The 88,000-square-foot facility is scheduled to open this summer.
Robert Gilmore, chief technology and processing services officer of CoreStates, said the northern New Jersey and metropolitan New York areas make up an important market for Transys.
With the large number of financial institutions in those areas, Transys expects to add new clients when the Carlstadt site is operational, he said.
Jack Britt, chief operating officer of Transys, agreed that the new site is in a good location, given Transys' push to increase business in the second Federal Reserve district.
"The location provides good access to the clearinghouses, the Federal Reserve processing center in East Rutherford, N.J., Teterboro Airport, and many major highways," he said.
The facility will have the capacity to process more than four million checks daily. As a complete check processing shop, it will have a three- shift staff providing a full array of services, including proof-of-deposit, cash letter processing, and statement services.
Both processing centers will be upgraded with image proof-of-deposit systems in 1996.
The Philadelphia site already uses imaging systems from International Business Machines Corp. for statements, exception item processing, and signature verification.
The new facility will also be equipped with imaging, and will make these services immediately available.
For the proof-of-deposit function, Mr. Britt estimates the company will spend $7 million to $12 million to upgrade both facilities. The vendor for the systems has not yet been determined, he said.
Focused solely on check, image, and electronic payment systems, Transys processes nearly 1.5 billion transit checks a year for 300 financial institutions.
In addition to Transys, CoreStates has other third party processing affiliates, including CashFlex, a remittance processor, and Synapsys, a credit card processor.