Endpoint Exchange LLC, the image network owned by Marshall & Ilsley Corp. that primarily serves small financial companies, and the SVPCO Image Payments Network, which serves the large banking companies that are members of The Clearing House Payments Co. LLC, have linked their systems.
One SVPCO user, Wachovia Corp., has started exchanging images with Endpoint users.
The two networks announced Wednesday that members could exchange check images with each other.
The major image exchange networks are becoming increasingline interconnected. SVPCO is also connected to the Federal Reserve banks' imaging network, and Endpoint is linked to the massive shared archive operated by Viewpointe Archive Services LLC, which stores images for some of the biggest U.S. banking companies.
Bob Meara, a senior analyst at the research and consulting firm Celent LLC of Boston, said in an e-mail that the connection between Endpoint and SVPCO "puts to bed any doubt that image exchange has arrived. The arrangement efficiently connects large, net collecting banks with a large and growing number of smaller institutions — just what the doctor ordered to move the industry to the next level."
Susan Long, a senior vice president at the Clearing House and the head of SVPCO Electronic Clearing Services, said that linking the two networks "is a real game changer for image."
