COCC Introduces New Image-item Processing Solution

This new functionality was built on technology from Advanced Financial Solutions (AFS), and fully interfaced to the Endpoint Exchange Network, which are Metavante companies. COCC is deploying AFS ImageVision, the banking industry?s leading image item processing application suite, and AFS ImageVision Courier, the software interface between AFS ImageVision and the Endpoint Exchange Network, as the platform for its new Check 21-ready image-item processing technology infrastructure. The AFS ImageVision Suite provides COCC and its financial institution customers with the foundation for several future image-enabled service offerings, such as Branch Capture and ATM Deposit Capture. The AFS ImageVision suite allows us to offer new image-based products as well as improve our operational efficiencies, said Joseph Lockwood, COCCs chief technology officer. The scalability of AFS ImageVision allows us to handle increasing volumes of checks as we launch new marketing programs and expand our community bank and credit union base. The interface to the Endpoint Exchange Network is generating several transaction cost advantages in clearing and settlement for our member institutions, most importantly a significant reduction of the costs and inefficiencies associated with the transportation infrastructure needed to move paper checks. In 2003, AFS became the first check-imaging software vendor to complete an interface to the Endpoint Exchange Network. The Endpoint Exchange Network enables U.S. financial institutions to clear their check-based transactions by allowing for the exchange of check images between its more than 4,500 member institutions. The AFS ImageVision Courier interface to the Endpoint Exchange Network provides COCCs customers with access to the countrys fastest growing and most interoperable check image exchange network. The AFS ImageVision Courier interface is designed to take advantage of all the functionality of the Endpoint Exchange Network, including forward presentment, incoming and outgoing returns, incoming and outgoing adjustments, and automated image quality assurance for exchanged images.