Trustmark National Bank has purchased a web-based check capture and processing product from Fiserv (FISV).
Central source capture will allow the $9.8 billion-asset Trustmark to replace its current paper-based check processing system, Fiserv said Thursday. The new system will automate all aspects of the item-processing operation, including capture, data perfection, electronic cash lettering, clearing settlements and outputs to posting and image archive.
The long-term agreement expands the existing partnership between Fiserv and Trustmark, a unit of Trustmark Corp. (TRMK) in Jackson, Miss.
The system will be implemented in phases. The first phase included deploying a centralized database for branch capture and placing image-enabled automated teller machines throughout Trustmark's branch system. The second phase will include replacing legacy check processing and cash lettering systems.
During the third phase, the legacy image exchange and external duplicate detection systems will be replaced.
Trustmark has also implemented ATM source capture to provide envelope-free check deposits at image ATMs.