Infonox and Source Technologies Form Technology Alliance

Thursday 13 November 2003 10:43 CET | News

Infonox and Source Technologies have formed a strategic technology alliance and collaborated on their first joint solution, a system named Concourse that targets the retail banking and check cashing industries.

The two companies are pioneering a new concept that significantly increases in-branch teller productivity called teller assisted self-service. With the Concourse system, up to four kiosks with one or more check printers, recyclers or other peripherals are organized in separate windows in front of a single teller. Consumers set-up their banking transactions on a self- service terminal and then the teller assists by completing the transaction. Teller assisted self-service increases teller productivity because a single teller can manage several customer lines simultaneously. Under the agreement, Infonox is providing a comprehensive, off-the-shelf software architecture for the Concourse system. The Infonox software enables all of the devices and the peripherals to work together to perform a range of transactions including deposits and withdrawals utilizing cash recycling technology, check reading/imaging for Check-21 readiness, MICR counter document preparation and others. It enables Web-based transactions, simplifies integration with existing legacy systems and includes hooks to interface with vendors such as Webtone/Fidelity, Argo, Alogent and others. Concourse is being offered by Source Technologies as an end-to-end solution. IBM has been selected as the fulfillment partner for large deployments, maintenance and consulting services.

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

Payments & Commerce