Carreker and Symcor strike multi-million dollar cheque processing deal
24 August 2001 | 3108 views | 0
Carreker Corporation's Check Solutions Group has entered into a multi-million dollar contract with Ontario-based financial transactions processor Symcor to integrate new back office software, image technology and archive into the Canadian company's item processing operation.
As a result of the agreement, Symcor will be able to offer its large financial and corporate clients conventional cheque processing as well as image capture and automated reject re-entry on the front end of the item processing operation. The enhanced platform will provide new services such as image statements, CD/ROM statements, archive storage and retrieval.
Symcor also gains access to Carreker's electronic cheque presentment (ECP) technology. ECP allows banks to process incoming paper cheque information into their deposit posting systems before the arrival of the physical paper items.
"Denny" Carreker, chairman and chief executive officer of Carreker Corporation, says: "This kind of customer win is precisely the reason we acquired Check Solutions. Check Solutions' customer base and value proposition have dovetailed perfectly with Carreker's clients and solutions, greatly adding to our ability to expand our presence in the marketplace."