Demand for check imaging systems at bank branches is up sharply this year for the service bureau COCC.
The Avon, Conn., service bureau has 152 bank and credit union clients, 110 of which are using the Metavante Technologies Inc. Branch Capture imaging technology.
It began offering the technology to its core processing customers in 2004, and 20% of those users have installed the systems in the past year.
Metavante, of Milwaukee, announced the COCC milestone Tuesday. It said its Branch Capture technology enables financial company users to settle check deposits faster and save money by reducing their need for courier services. (Metavante was spun off from Milwaukee banking company Marshall & Ilsley Corp. in November.)
"Captured images are presented earlier, improving funds availability," Betsy Didan, COCC's assistant vice president for document processing, said in a Metavante press release. "Financial institutions can extend the end-of-day cutoff time for their customers and extend the same-day processing window because less time is required to prepare outgoing cash letters."
