Peerless Systems Inc. of Dallas has completed a software integration project that will enable its over 300 banking software clients to print check-image statements.
The integration project is aimed at giving banks that run Peerless core accounting software the ability to send customers miniaturized laser-printed pictures of canceled checks in their monthly account statements.
Peerless programmers wrote software interface to exchange information with check-processing hardware from Lundy Financial Systems, Charlotte, N.C., and imaging software from Document Solutions Inc., Birmingham, Ala.
Check-image statement systems are already in use at over a dozen large financial institutions, including Fleet Financial Group and First National Bank of Chicago.
However, the systems used by these banks require mainframe computers and cost millions of dollars to install and operate.
Runs on Midrange Computers
The Peerless system is designed for smaller institutions that use midrange computers - such as the AS/400 from International Business Machines Corp. - as their host computer. The Peerless image statement system costs around $300,000.
NCR Corp., Dayton, Ohio, and Banctec Inc., Dallas, recently announced availability of check-image statement systems in the same price range.
Though no customers have purchased the system, Peerless executives said they have received a number of commitments and expect a half-dozen community banking customers to be sending out image statements by the first quarter of 1993.