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Bank of West Picks Carreker
Bank of the West, a San Francisco unit of BNP Paribas SA, has agreed to use automated document tracking software from Carreker Corp. of Dallas.
Carreker said last week that the $55 billion-asset bank would use its TrackPoint software, which can trace the movement of documents throughout an organization. Bank of the West plans to implement the software in its receiving and proof departments to follow check and automated teller machine deposits, tax files, payroll envelopes, internal mail, and bulk file shipments among its various sites.
TrackPoint can follow any object with a bar code, as well as electronic files, which makes it easier for users to find them. The banking company has used another Carreker product, Receive Sentry, since 1998.
Carreker said regulatory requirements are driving demand for such technology, because they require financial companies to retain historical data and trace the movement of some information in and out of the company.
Open Solutions, Ceto In Deal
The Glastonbury, Conn., banking technology software vendor Open Solutions Inc. will offer its clients deposit analysis software and services from Ceto and Associates of Atlanta.
Open Solutions announced the partnership last week. Ceto's deposit reclassification services analyze financial companies' transaction accounts to convert reserve funds into interest-earning assets. Its Cash Calculator software is designed to help branches manage their cash and increase revenue by maintaining an optimal amount of vault cash.
The products and services have helped financial companies increase their pretax profits by an average of $1 million a year, Ceto said. It has 4,500 North American customers.
