Signet Bank has purchased a $2.5 million Unisys system for its check area.
Richmond, Va.-based Signet, one of the first banks in the country to go live with Unisys' proof-of-deposit imaging system over three years ago, is expanding its check image system to offer what it claims is the most comprehensive portfolio of check image business services for commercial customers of any U.S. bank.
"This acquisition demonstrates Signet's long-term commitment to evolve our service business with new offerings for customers," said Robert Bryant, senior executive vice president of the $11 billion-asset bank.
Once the system is fully implemented. Signet will be able to provide its customers exception item and daily image check transmission. end-of-business-cycle reporting with images stored on a CD-ROM. and advanced customer inquiry capabilities.
A Signet spokeswoman said these new services will help the bank's customers significantly reduce operational costs, streamline record keeping, and work to eliminate check fraud.
While Blue Bell, Pa.-based Unisys Corp. will act as the prime contractor in delivering the new image solution, other vendors are also involved in the Signet project.
The total system comprises the Unisys InfoImage Item Processing System servers. Intel processor-based U6000 Series Unix servers. archive software, specialized CD-ROM authoring software and production equipment, and CheckVision software from IA Corp., Emeryville, Pa.
This new equipment will be installed and integrated with Signet's existing check image processing system. the Unisys High Speed Item Processing System, which the bank started using to process all of its incoming checks in April 1991.
"Unisys' expertise in providing critical integration services for image-based solutions has played a significant role in advancing Signet's strategy over the past several years," said Mr. Bryant.
"We fully expect this alliance to yield further benefits to Signet Bank and to our customers in the future."