International Business Machines Corp. has announced an agreement to market a low-speed cheek processing system from Compuquip Inc.
The system from Compuquip, based in Miami, Fla., is said to handle 240 items per minute. It is intended for financial institutions that process 10,000 checks in an average day.
Though the system is not designed to use the image technology in vogue at a number of cutting-edge institutions, IBM officials said they plan to have an imaging configuration available within 12 months.
With a price tag of about $65,000, the system is expected to be attractive to smaller institutions with basic needs.
It is being sold in prepackaged configurations consisting of a check sorter, application software, an IBM PS/2 personal computer, and a laser printer.
Installation and training will be included in the basic package.