Advanced Financial Solutions Installs 1000th Branch Capture System

Tuesday 21 September 2004 16:31 CET | News

Advanced Financial Solutions (AFS), has in June achieved the milestone of installing its one thousandth branch for check image capture at a U.S. financial institution.

AFS installed the first Branch Image Capture solution in the United States at INTRUST Bank in Kansas in 1997. AFS has since implemented branch capture at all but one bank branch in the entire country of Singapore, and has successfully implemented the technology in several other countries. Today, AFS counts over 60 U.S. financial institutions as customers for its branch capture solution. AFS Branch Capture allows financial institutions to capture images of paper transactions in the branch, at the point of origination, and then transmit the images to a central processing location where they are merged into the advanced workflow of image-enabled proof-of-deposit (POD) for keying and balancing. Branch item capture technology positions financial institutions to reap the full benefits of truncation through check image exchange and the generation of substitute checks for clearing and settlement - new technologies brought to the forefront by the Check 21 legislation. Since the first of this year several prominent banks, savings institutions, and corporate credit unions have committed to AFS Branch Capture. With check images captured at the teller line, truncation of the paper check at the earliest point of the process becomes a reality, with the revenue from the paper check product being maintained and enhanced. A key driver in reaching this milestone is the success of Advanced Financial Solutions portfolio of Check 21 Ready imaging solutions and services that empower financial institutions to realize the full potential and benefits of the new Check 21 legislation. These applications work together to capture and clear check images as early in the payment cycle as possible, removing paper from the process, lowering the cost of payment processing, accelerating check clearing, and maximizing cash flow. AFS Check 21 solutions also include: - ImageVision Courier - connecting AFS ImageVision systems to the Endpoint Exchange check image exchange network - xVision - providing cross-platform check image exchange interoperability with CPCS-based check imaging platforms and the Federal Reserve - ATM Capture - providing image capture for truncation and image exchange all the way out to the ATM. - AFS - ICBA Fast Track Imaging Program – a special program to help non-image based community banks quickly and cost effectively adopt key imaging technologies in advance of Check 21 - Check 21 Consulting Services - helping financial institutions prepare for and streamline their back office / branch workflow to be ready for Check 21

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Categories: Payments & Commerce | Payments General
Countries: World
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