Three imaging systems vendors announced major deals at the recent Bank Administration Institute Imaging Technology conference in Orlando:
* Systematics Information Services Inc. has installed a checkimaging system based on IA Corp.'s CheckVision software.
* Barclays Bank has selected an image-based remittance system from Earnings Performance Group Inc.
* Banctec Inc. received orders totaling about $7.8 million from three major U.S. banks.
These announcements signify the growing acceptance of imaging technology in the banking industry.
Systematics has installed a client/server check imaging system based on IA Corp.'s CheckVision software platform in its West Coast processing center.
Neither party would comment on the dollar size of the deal.
The outsourcer will be using the system in its document management services center located in the San Francisco Bay Area.
The system, processing check images and image-based statements, is now in production and was installed in less than 10 weeks for Systematics' leading check-imaging customer, Bank of the West, a major $4 billionasset retail bank.
"We wanted the closest thing to an off-the-shelf solution without having to compromise on flexibility," said Jerry Dupas, vice president of the payment services group of Systematics.
"CheckVision's open, clientserver architecture will let us tailor and add check-imaging services as our customers request them, and scale the system up incrementally to meet future volume requirements."
Mr. Dupas added that one reason IA won the contract was that CheckVision was the only system that offered a variety of image formats, allowing the outsourcer's clients to target various market segments.
For example, he said, a bank could offer its senior customers large-print image statements.
Or, using CheckVision's premier image statement, banks could provide commercial Customers with statements in check register format -- with images of specific check fields sorted by check number, date, or expense code.
Barclays Bank PLC agreed to develop and install Earnings Performance Group's new, imagebased remittance system, which will be fully integrated with Barclays' current image POD system from International Business Machines Corp.
Late last year, Barclays became the first bank in the world to process live work through IBM's system.
The British banking giant now plans to implement imaging in its credit and debit card processing area.
Barclays hopes to have the system fully implemented by the middle of next year.
Neither Short Hills, N.J.-based EPG nor Barclays would comment on the price of the contract. EPG's remittance product will initially support the processing of credit card payments for the bank.
Using courtesy amount read software and image technology, the new remittance system will eliminate data keying of as much as 75% of the items, eliminate many paper-based processing functions, allow acceptance of electronic payments, provide online access to all items and images, and eliminate the need for paper copies.
"In our search for a leadingedge, lockbox system and a supplier that had the necessary expertise to help us expand our image-based capabilities into remittance processing, EPG clearly lead the pack," said Sue Biggins, head of clearing services for the British banking giant.
Key Services Corp., Seattle First National Bank, and Citicorp Credit Services Inc. have each announced plans to install Dallas-based Banctec's ImageFirst financial document processing system at their respective operations centers.
Cleveland-based Key Services, the operations division of Keycorp, will use the system to process several million bank card and retail lockbox payments each month.
The system will feature an intelligent character recognition feature, which uses neural network technology to electronically read the hand-printed amounts on checks and other financial documents.
Seattle First, a subsidiary of BankAmerica Corp., will use the system for reject repair and other remittance-processing operations.
Citicorp Credit Services Inc. will use the system, with character recognition, to process credit card payments at its Hagerstown, Md.-based processing center.