Fiserv Says Emprise Bank Automates Lockbox Process by Deploying ITI's Paydata.NET System; Increased Profits, Productivity and Efficiency the Result of Concurrent Processing on One Platform
Fiserv Says Emprise Bank Automates Lockbox Process by Deploying ITI's Paydata.NET System; Increased Profits, Productivity and Efficiency the Result of Concurrent Processing on One Platform
January 10, 2006
Fiserv Says Emprise Bank Automates Lockbox Process by Deploying ITI's Paydata.NET System; Increased Profits, Productivity and Efficiency the Result of Concurrent Processing on One PlatformLINCOLN, Neb.--Jan. 10, 2006--By completely automating its lockbox processing, $806 million Emprise Bank in Wichita, Kan., is not only bringing in new business, but also increasing staff productivity and efficiency. To achieve those results, the bank implemented Paydata.NET, a comprehensive remittance and lockbox processing solution from the Information Technology, Inc. (ITI) unit of Fiserv, Inc. (Nasdaq:FISV)
Paydata.NET (based on Microsoft's® .NET platform) has the unique ability to concurrently process all types of lockbox payments, including retail, wholesale and wholetail, automatically on one platform. There is no need for separate software applications. This flexibility and efficiency also contribute to increased staff productivity.
"Concurrent processing has enabled us to reduce staff oversight of individual lockboxes and take advantage of the time savings in high-volume processing," said Carolyn Morton, Emprise Bank vice president and information system services manager. "We're confident staff productivity will continue to increase as new customers are added."
Used in conjunction with ITI's Director Check Image application, Paydata.NET provides a single-pass solution that simultaneously feeds the lockbox system and image archive while creating a transaction posting file.
"We're able to offer our clients a significant competitive advantage by eliminating the time-consuming process of handling items multiple times," said Brian Schwanebeck, ITI senior vice president and general manager of the Digital Solutions document management operating unit. "Streamlining the remittance and lockbox process is just another way we can help bankers better serve their customers."
"This solution helps us compete against larger banks by offering features like high-quality images and accessibility through our business Internet banking product - all at competitive prices," added Morton. "Not only are we gaining new customers, but we're also looking forward to converting our existing customer base to this service."
Serving more U.S. banks and savings institutions than any other software and services vendor, ITI offers several core solutions, including the Premier and PCS Vision suites, as well as a broad range of supporting products and services. Founded in 1976, ITI works closely with some of the best-known technology companies in the world and has grown to incorporate businesses and offices nationwide, including its Premier, Precision Computer Systems (PCS), Branch Automation, eSolutions, Digital Solutions, Decision Metrics and Professional Services operating units. A subsidiary of Fiserv, Inc., ITI can be found on the Internet at www.itiwnet.com.
Fiserv, Inc. (Nasdaq:FISV) is a provider of information management systems and services to the financial and health benefits industries, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 16,000 clients worldwide, including banks, credit unions, financial planners/investment advisers, insurance companies and agents, self-insured employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $3.4 billion in processing and services revenues for 2004. Fiserv was ranked the largest provider of information technology services to the U.S. financial services industry in the 2004 and 2005 FinTech 100 surveys by the American Banker newspaper and the Financial Insights research firm. Fiserv can be found on the Internet at www.fiserv.com.
Paydata.NET (based on Microsoft's® .NET platform) has the unique ability to concurrently process all types of lockbox payments, including retail, wholesale and wholetail, automatically on one platform. There is no need for separate software applications. This flexibility and efficiency also contribute to increased staff productivity.
"Concurrent processing has enabled us to reduce staff oversight of individual lockboxes and take advantage of the time savings in high-volume processing," said Carolyn Morton, Emprise Bank vice president and information system services manager. "We're confident staff productivity will continue to increase as new customers are added."
Used in conjunction with ITI's Director Check Image application, Paydata.NET provides a single-pass solution that simultaneously feeds the lockbox system and image archive while creating a transaction posting file.
"We're able to offer our clients a significant competitive advantage by eliminating the time-consuming process of handling items multiple times," said Brian Schwanebeck, ITI senior vice president and general manager of the Digital Solutions document management operating unit. "Streamlining the remittance and lockbox process is just another way we can help bankers better serve their customers."
"This solution helps us compete against larger banks by offering features like high-quality images and accessibility through our business Internet banking product - all at competitive prices," added Morton. "Not only are we gaining new customers, but we're also looking forward to converting our existing customer base to this service."
Serving more U.S. banks and savings institutions than any other software and services vendor, ITI offers several core solutions, including the Premier and PCS Vision suites, as well as a broad range of supporting products and services. Founded in 1976, ITI works closely with some of the best-known technology companies in the world and has grown to incorporate businesses and offices nationwide, including its Premier, Precision Computer Systems (PCS), Branch Automation, eSolutions, Digital Solutions, Decision Metrics and Professional Services operating units. A subsidiary of Fiserv, Inc., ITI can be found on the Internet at www.itiwnet.com.
Fiserv, Inc. (Nasdaq:FISV) is a provider of information management systems and services to the financial and health benefits industries, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 16,000 clients worldwide, including banks, credit unions, financial planners/investment advisers, insurance companies and agents, self-insured employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $3.4 billion in processing and services revenues for 2004. Fiserv was ranked the largest provider of information technology services to the U.S. financial services industry in the 2004 and 2005 FinTech 100 surveys by the American Banker newspaper and the Financial Insights research firm. Fiserv can be found on the Internet at www.fiserv.com.