Source: Clearing House Payments Company
Electronic Clearing Services, the electronic check and check image exchange business of The Clearing House Payments Company L.L.C., today announced the availability of SVPCO Gateway DTA, a new, low-cost option for gaining access to the SVPCO Image Payments Network.
SVPCO Gateway DTA allows institutions to send and receive bulk files of images through the Image Payments Network. SVPCO Gateway DTA enables financial institutions to connect directly to the network through a dedicated phone line and requires no installed software. Early in the third quarter, institutions will also be able to access the Image Payments Network through an existing Internet connection using File Transfer Protocol (FTP). Both options are designed for institutions that process less than 100,000 images per day or are interested in gradually ramping up their image processing capabilities.
Huntington National Bank of Columbus, Ohio, a subsidiary of Huntington Banchares, Inc., a $36 billion bank holding company with more than 380 branches in the Midwest, is the first institution to use the SVPCO Gateway DTA to gain access to the Image Payments Network.
"SVPCO Gateway DTA is enabling Huntington Bank to realize the strategic objective of cost effectively exchanging and settling check images," said Jim Posani, Vice President and Item Processing Manager of Huntington Bank. "SVPCO worked closely with us to create a solution that works for our institution's image volume needs and leverages the Image Payments Network."
SVPCO Gateway DTA is one of three ways to connect with the nation's leading image exchange network. SVPCO's Distributed Traffic Agent (DTA), a solution developed by SVPCO with technology partner VECTORsgi, enables institutions with larger volumes to transmit check images directly to each other. The SVPCO Image Payments Network can also be accessed through an institution's correspondent banking relationship or through a third-party processor acting as its agent.
"SVPCO Gateway DTA is the perfect choice for financial institutions such as Huntington Bank that want a low-cost, easy-to-implement solution for leveraging the SVPCO Image Payments Network to process check images," said Susan Long, Senior Vice President of The Clearing House, responsible for SVPCO-Electronic Clearing Services: "The SVPCO Gateway DTA is part of SVPCO's commitment to providing an image exchange solution that best fits each institution's specific needs."