The National Bank of Canada has awarded a ten-year $368 million outsourcing contract for the supply of cheque, lockbox and currency processing to Intria items, a joint venture between Fiserv and the Canadian Imperial bank of Commerce.
Currency services include automated teller machine envelope processing, deposit processing, and cash supply to National Bank's ATM machines. The deal includes the transfer of several National Bank of Canada processing sites as well as over 600 employees.
Intria Items, which currently handles more than a billion item processing tasks each year, offers a suite of services that includes cheque clearing, document imaging, file management, lockbox processing, account and deposit processing, print and mail, and currency services through a Canadian network of 17 centres.
The joint venture says it is constructing an advanced processing centre in LaSalle, Quebec, in which it will integrate all of its Montreal-area operations, including some of the new National Bank of Canada business.