Wachovia Selects Advanced Financial Solutions to Enhance Check Image Exchange Strategy

Friday 13 February 2004 21:59 CET | News

Wachovia has reached a major milestone in its check image exchange program with the selection of the xVision solution from Advanced Financial Solutions (AFS), a leading provider of image-enabled payment processing solutions to the financial services industry.

The AFS xVision software is designed to isolate Wachovias check capture and posting system from the check image exchange network and allow the bank to receive electronic cash letters with minimal modifications to its current systems. AFS xVision receives electronic data, with or without check images, and imports the data into the xVision warehouse. From here the data is perfected using state-of-the-art image-based quality assurance applications. Once the data is perfected it is exported to the appropriate banking system for posting or forwarded to a check image exchange network. AFS xVision is designed to send and receive from multiple check image exchange networks using multiple workflows. This unique design advantage will allow banks to utilize the optimum check clearing method without software changes. Wachovia Corp. uses CPCS for its check capture platform. The implementation of AFS xVision provides the gateway for Wachovia to both support and accommodate image exchanges with other SVPCo Exchange Network members. This strategy removes any constraints regarding interoperability, exchange standards, and record formats, while leveraging the existing investment in CPCS technology.

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

Payments & Commerce