Wachovia Deploys Advanced Financial Solutions xVision

Thursday 30 September 2004 15:33 CET | News

Wachovia has begun receiving check images from the Federal Reserve Bank using technology from Advanced Financial Solutions (AFS).

The xVision solution from AFS gives Wachovia the ability to move a critical mass of truncated check transactions from the Federal Reserve using electronic check presentment (ECP) with image-to-follow. AFS xVision provides the bridge between Wachovia’s image item processing platform and a Federal Reserve X9.37 data file format. The Federal Reserve selected the American National Standards Institute (ANSI) X9.37 black and white check image standard in May 2004. According to recently published statistics from the Federal Reserve, more than 1,300 financial institutions use the Federal Reserve’s FedImage Services. Each day the Federal Reserve Banks capture digital images of nearly 10 million checks on behalf of financial institutions. More than 5.2 billion images are stored in the Federal Reserve’s national archives.

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

Payments & Commerce