Daily Check Image
Exchange Volume Surpasses $1 Billion
Daily volume is expected to triple to $3 billion by the
end of 2005.S.S.check flags
"This is a unique time of change in our industry. The
company operates through an
extensive banking network primarily in
Ohio, Illinois, Indiana, Kentucky, Michigan, Missouri and
Pennsylvania, and also serves customers in selected markets
nationally. This progress is noteworthy
given that the migration to
image exchange represents the most complicated and most expensive change
in
check processing since MICR-technology was developed. banking affiliates: ABN
AMRO Bank, Bank
of America, The Bank of New York,
Bank of Tokyo-Mitsubishi/Union Bank of California, BB+T, City National
Bank,
Citibank, Citizens Bank, Comerica Bank, Deutsche Bank, HSBC Bank, JPMorgan
Chase Bank, KeyBank
, M+T Bank, National City Bank, PNC Bank, SunTrust Bank,
U.reference out
com
SVPCO Check Image Exchange
Network Expects Volume to Double or Triple By End
of 2005
NEW YORK, SVPCO -- Electronic Clearing Services, the
electronic check and check image exchange
business of The Clearing House
Payments Company, LLC.savidge@theclearinghouse.facts general
Its core businesses
include commercial and retail banking,
mortgage financing and servicing, consumer finance and asset
management. For more information about National City, visit the
company's Web site at www. Seven
are already implemented and will be
looking for additional partners.S.gross bhutanese
Check 21 and the increased
use of image services, are just a few of
the changes that allow us to provide our cash vault customers
with a
check-imaging solution that is a value differentiator for financial
services providers
like National City."
About Brink's, Incorporated
Brink's, Incorporated, delivers customized
cash logistics
solutions that help companies manage the intricacies of the cash
supply chain.
The SVPCO Check Image Exchange Network is the nation's premier image
exchange network, enabling
financial institutions to perform a variety of
check image clearing and settlement functions.provides images
provides out
Brink
's Launches Cash Vault Image Capture Solution; National City to Offer the New Service
nationalcity
.
"Averaging $1 billion a day in volume after the first seven months of
operation is the first
of many milestones as image exchange redefines the
check processing business of the entire financial
services industry," said
George Thomas, Executive Vice President, The Clearing House. Each
of
The Clearing House's 19 owner banks has developed plans to take full
advantage of image exchange
. SVPCO banks represent 58% of
U. financial
institutions and hundreds of international participants
with payment services
that span the entire spectrum of paper, paper-to-electronic and electronic
payments.atlasgeo an
Business Editors
DALLAS----Brink's, U. Institutions are typically sending
check images that are printed as Image Replacement Documents (IRDs), which are
then delivered
to institutions for sorting and processing in the same manner
as original paper checks. Electronic
check
image exchange is expected to create efficiencies for the banking industry
through operational
efficiencies and lower costs.country net
"
The majority of the checks processed through the Image Exchange
Network
have been for higher-dollar volume items.S.ensigns about
5
trillion per day.reference an
National City will use
the Brink's Vault Image Capture Solution
powered by NetDeposit to remotely capture check images and
data for
the bank's cash vault depositors."
"This is an exciting opportunity for us to provide
our customers
with a virtual end-to-end deposit processing service," said Lynn
Aleksov, senior
vice president and manager of Global Trade and
Treasury Management at National City. "We now have
enough experience to see that once banks complete the implementation and
testing process, volume
ramps very quickly because the efficiencies are so
compelling."
SVPCO's unique Check Image
Exchange solution is a single, end-to-end
system that provides unparalleled control, security and
processing efficiency
for transmitting check images and other data directly between participants
in
the industry.org) is a private-sector, global payment systems
infrastructure that clears and
settles 20 million payments for more than $1.
about general
S.flag reference
"The volume of images flowing through
the Image Exchange Network will
increase rapidly as the financial services industry begins to realize
the
efficiency and reliability of check image exchange," said Susan Long, Senior
Vice President
of SVPCO -- Electronic Clearing Services. Bank, Wachovia Bank, and Wells Fargo Bank.about gross
The next step
in the image migration path is
processing image documents only, which would eliminate the paper production
and manual clearing process. The network enables financial institutions to exchange images of
checks
peer-to-peer without a cumbersome central processing system thereby
eliminating the expense of transporting
physical checks.
About The Clearing House Payments Company
The Clearing House Payments
Company, LLC. The Clearing House Payments
Company is owned by the following banks or their U.bhutanese country
out facts
Nine
major financial
institutions and the Federal Reserve are exchanging images via the Image
Exchange
Network.flag atlasgeo
, a Division
of Brink's, Incorporated (Brink's), a recognized national leader in
secure
logistic solutions, announced today the establishment of an
image capture solution in National City
's (NYSE:NCC) Dallas cash
vault.brinksinc., today announced that the SVPCO Check Image Exchange
Network
is averaging more than $1 billion and over 125,000 check images a day.
The growing volume of
check images is the result of an increasing number
of financial institutions participating in the
Image Exchange Network. For more information on The
Clearing House, contact chip.org, 212-613-9896
, or
Greg Berardi, greg@bluemarlinpartners.national image
commercial bank deposits and over 60% of the checks in
the U. Services include local and regional check exchange and settlement
services, ACH association
and operations, large-value "wire" payments,
electronic check presentment and a check image exchange
.bhutanese ensigns
National City currently serves clients through over 50 cash
vaults located throughout the U. With
a nationwide footprint of over 150 locations and
more than 2,200 armored vehicles, Brink's provides
end-to-end
transportation, cash management and business intelligence services
including currency
and coin processing, ATM servicing, document
destruction, the proprietary Brink's CompuSafe(R) Service
, and the
state-of-the-art Brink's iCash System. The remaining twelve have committed to
implement
, with the vast majority likely to be connected to the Image Exchange
Network by the end of the year
in some capacity.country an
com, 415-239-7826.provides database
S.com
About National City
National City Corporation
(NYSE: NCC), headquartered in Cleveland,
Ohio, is one of the nation's largest financial holding companies
. The Clearing House serves more than 1,600 U.out ensigns
"In addition to better service,
the Brink's solution
expedites collection of checks on behalf of our
clients.
(http://www. Financial
institutions
of all sizes benefit from payment systems that meet the highest
standards for reliability, security
and service.S.database pascal
Brink's product offers:
Image capture of the front and back of the check
Proof
and balancing of check deposits
Image quality control
Routing, sorting and batching of
items
Deposit transmission to the depository bank
"As strategic business partners for
many years, an image-based
solution is the next logical progression in our relationship with
National
City," said Guy Weissberg, executive vice president, Brink's
Cash Logistics. "Image exchange is
being embraced across the financial services industry, and adoption will
accelerate in 2005.out image
For
more information about
Brink's, Incorporated, visit the Company's website at
www.gross ensigns
theclearinghouse
.atlasgeo images
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