Headlines:
M&I Offers Image Capturing
Marshall & Ilsley Bank of Milwaukee is offering commercial clients remote check-image capture using software from its Advanced Financial Solutions Inc. subsidiary.
The bank's parent, Marshall & Ilsley Corp., said Monday that the "merchant capture" package includes a desktop scanner that creates a digital image of the front and back of a check and reads data from the magnetic ink character recognition line.
The software compares deposit information with the total amount scanned and uses quality assessment to verify the usability of images.
M&I's technology subsidiary, Metavante Corp., acquired AFS, of Oklahoma City, in July.
Fiserv Purchases CheckAgain
Fiserv Inc. has acquired CheckAgain LLC, a Herndon, Va., provider of electronic check re-presentment services.
The Brookfield, Wis., technology firm announced the acquisition Monday. It did not say how much it paid, but it said the purchase would add about $15 million to annual revenue.
CheckAgain, which started up in 1998, uses automated clearing house transactions to electronically re-present returned checks, primarily for major retailers.
Fiserv, the nation's largest third-party check processor, said it plans to cross-sell CheckAgain's services to its financial institution clients and to expand its services into the retail market.
