SVPCo and Unisys to Help Financial Institutions Leverage Check 21 Legislation

Tuesday 4 May 2004 17:53 CET | News

SVPCo and Unisys Corporation have signed an agreement to help banks transform their operations and benefit from the Check Clearing for the 21st Century Act (Check 21) and the opportunities offered by digital check image exchange.

Under the agreement with SVPCo - the leading bank-owned, private sector provider of payment services to financial institutions in the United States - Unisys will offer consulting services to help financial institutions meet the business and technical requirements of Check 21. Unisys consulting services help banks realize the industry goal of exchanging check images for faster, more secure and cost-effective payment operations. Unisys will use its 3D Visible Enterprise (3D-VE) as the preferred methodology to support the Check 21 and image exchange consulting services. Unisys 3D-VE is an innovative approach to understanding the cause and effect relationships between business vision, business operations and the information technology systems that support them, helping to reduce the risks associated with implementing new technologies. Unisys has conducted Check 21 and image exchange assessments at several top 10 banks. Through these assessments, Unisys maps out the current state of a banks check processing and related procedures and the future plan of what check image exchange will involve. By using sophisticated modeling tools and its deep expertise in payments, which includes processing more than half the worlds checks, Unisys helps banks understand the gaps that exist in their current image exchange plans and allows management to better formulate a transformation strategy. These assessments allowed the company to identify more than 100 business processes potentially affected by Check 21 and image exchange.

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Categories: Payments & Commerce | Payments General
Countries: World
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