FirstMerit Bank Selects Captiva for Streamlined Payment Processing

Thursday 24 February 2005 02:03 CET | News

FirstMerit Bank, has selected Captivas Digital Mailroom, InputAccel and FormWare software to create a comprehensive solution to capture and process payment documents. The value of the contract to Captiva exceeds $300,000.

FirstMerit will initially implement the solution in its wholesale lockbox operation to automatically capture, classify and route documents such as checks, remittance coupons and invoices that enter the operation for payment processing. 20,000 structured, semi-structured and unstructured documents arrive daily at the operation, where FirstMerit collects and processes payment transactions for its corporate banking customers. Utilizing advanced optical character recognition (OCR) technologies, Captivas input management solution identifies the type of document and then extracts, perfects and exports the critical information to line-of-business databases and an enterprise content management (ECM) system, where FirstMerit customers have secure, on-line access to the information. By converting the lockbox operations from cumbersome paper-based processes to a highly automated digital process, FirstMerit will efficiently and accurately process more payment transactions without increasing staff size. The Digital Mailroom is automated classification and routing software for digitized images of inbound mail and electronic communications. InputAccel is Captivas award-winning document capture software and FormWare is Captivas flagship forms processing software. By delivering accurate, timely and usable data to enterprise applications, Captivas input management solutions offer users reduced operational costs, improved information quality and accelerated business processes.

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Keywords: ,
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce


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