Marshall & Ilsley Corp. of Milwaukee has agreed to use the Pointe2Pointe check image exchange service operated by Viewpointe Archive Services LLC of New York.
Viewpointe, which announced its deal with M&I on Tuesday, operates an image archive for 11 of the country's largest banking companies, some of which also use the archive to settle payments between themselves by sharing access to the images.
The Pointe2Pointe service enables other financial companies to clear checks by sending image files through Viewpointe's system to paying banks.
M&I was an early mover in check imaging. Metavante Technologies Inc., the banking technology unit it spun off in November, operates Endpoint Exchange LLC, which it acquired in 2004. M&I began using that network that year, and in August of last year it said it had begun using the SVPCO Image Payments Network operated by The Clearing House Payments Co. LLC.
Russ Soderberg, M&I's vice president for payment strategies, said in a Viewpointe press release that using Viewpointe's service will help his company "reach our goal of sending and receiving 100% of our check volume electronically."
