Sterling National Bank of New York has begun clearing checks electronically through The Clearing House Payments Co. LLC's SVPCO Image Payments Network.
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The Clearing House said Wednesday that Sterling, the principal unit of the $1.9 billion-asset Sterling Bancorp, is the 15th bank to use the network and the first to send image files over the Internet to other banks by using file transfer protocol to connect to SVPCO's hosted service, Gateway DTA.
Bank of America Corp. is Sterling's first SVPCO image-trading partner.
